the last paragraph says it all..., page-3

Agree - very impressive. Must remember though that it's still just provisional - contingent on (satisfactory ?) finalisation of litigation. .. I was struck by the fact that the deferred shares right deed (14.9%) applies to AGS OR ACE and the options (25.1%) to ACE .. suggesting, it seems to me, a spin off ..?

"As part of the alliance ITOCHU Corporation, through its wholly owned subsidiary NURA 3 Pty Ltd ("ITOCHU") will have the right to subscribe for an equity interest of 14.9% in Alliance or Alliance Craton Explorer Pty Ltd (“ACE”) (a wholly owned subsidiary of Alliance) and an option to acquire a further 25.1% in ACE ("Transaction")"