Alliance Resources Ltd.

Published : November 25th, 2014

25-Nov-2014 Four Mile - Update to Announcement dated 20 November 2014

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25-Nov-2014 Four Mile - Update to Announcement dated 20 November 2014

ASX ANNOUNCEMENT


25 November 2014 ASX Code: AGS

FOUR MILE URANIUM PROJECT

UPDATE TO ANNOUNCEMENT DATED 20 NOVEMBER 2014


Alliance Resources Limited (Alliance) has received a number of enquiries from shareholders seeking clarification on the impact of Alliance Craton Explorer Pty Ltd's (ACE) decision to elect not to contribute to the Four Mile Uranium Project 2015 Program and Budget for the period 1 December
2014 to 31 December 2015 (2015 Program and Budget).
The election to not contribute to the 2015 Program and Budget does not mean that ACE will cease to have an interest in the Four Mile Project. On the contrary, ACE is required to contribute to future programs and budgets unless it elects not to do so.
By way of example, if ACE elects to not contribute to any future programs and budgets then, based on the assumptions set out below, ACE estimates that:
- its interest in the Four Mile Uranium Project will be diluted from its current 25% interest at
30 November 2014, to approximately 15% by 31 December 2015, to approximately 11% by
31 December 2016, etc., to a 0% interest by October 2026 (Period). This is on the basis that its interest will decrease logarithmically to below 3% by the end of the Period (that is, its interest will decrease each year at a decreasing rate), at which point ACE is deemed to have
withdrawn from the Joint Venture Mine Development Area; and
- it will receive approximately $110 million for its share of the uranium oxide concentrate production (approximately 2.5 million lbs) over the Period, excluding royalties, converter fees (if any), transportation costs and tax.
These estimates are based on the following assumptions:
1. a constant uranium oxide price of US$40.00 over the Period;
2. a constant US$:AU$ exchange rate of US$0.90:AU$1.00 over the Period;
3. its interest will dilute in accordance with a "standard" formula for dilution as set out in the joint venture agreement which takes into account the total joint venture costs contributed by both parties;
4. the Four Mile mine is in production until 31 October 2026 (including production from Four
Mile West for which regulatory approval is yet to be granted);
5. the Four Mile rate of production is 2.5 million lbs per annum consistent with the projected production rate for 2015;
6. expenditure for each calendar year over the Period is at the same rate as projected by the
2015 Program and Budget; and
7. ACE does not make any further contributions to joint venture costs.

ASX ANNOUNCEMENT


Alliance considers the above information is based on reasonable grounds and the assumptions underpinning it are objectively reasonable. Notwithstanding this, nothing in the above information is a promise or representation as to the future. Statements or assumptions in this announcement as to future matters may prove to be incorrect and differences may be material. Alliance does not make any representation or warranty as to the accuracy of such statements or assumptions. Further, no audit or review has been undertaken by an independent third party of the assumptions, data, results, calculations and forward-looking statements contained in or referred to in this announcement.
The mineral resources underpinning the example dilution calculation have been prepared by competent persons in accordance with the JORC Code. There has been no material change to the mineral resource estimate since the ASX announcement dated 20 December 2013 except for depletion of the mineral resource due to mining during 2014. The mineral resource statement at 30
June 2014 was reported in the Company's Annual Report 2014.
The relevant proportions of inferred mineral resources and indicated mineral resources underpinning the example dilution calculation are 44% and 56% respectively.
There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production assumptions used in the calculation will be realised. The stated production assumptions are based on the Company's current expectations of future results or events and should not be relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidence that these estimates will be accurate.
ACE's 25% interest in the area outside the Mine Development Area is not affected by its decision not to contribute to the 2015 Program and Budget and ACE will continue to be free carried with respect to that area until a decision to mine.
For and on behalf of the Board.

Steve Johnston

Managing Director

Read the rest of the article at www.noodls.com

Alliance Resources Ltd.

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CODE : AGS.AX
ISIN : AU000000AGS2
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Alliance Res. is a gold development stage company based in Australia.

Alliance Res. develops gold and uranium in Australia, and holds various exploration projects in Australia.

Its main asset in development is FOUR MILE in Australia and its main exploration properties are WARRINA, EAST FROME and MALDON in Australia.

Alliance Res. is listed in Australia. Its market capitalisation is AU$ 18.3 millions as of today (US$ 13.2 millions, € 12.9 millions).

Its stock quote reached its highest recent level on February 24, 2012 at AU$ 0.62, and its lowest recent point on October 21, 2016 at AU$ 0.01.

Alliance Res. has 104 290 000 shares outstanding.

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Corporate Presentations of Alliance Resources Ltd.
5/18/2011Company Presentation
Annual reports of Alliance Resources Ltd.
2010 Annual Report
Financings of Alliance Resources Ltd.
9/16/2016Return of Capital
Financials of Alliance Resources Ltd.
10/27/2011First Quarter Activity and Cashflow Report - 30 Sept 2011
8/1/2011Fourth Quarter Activity and Cashflow Report _ 30 June 2011
7/30/2010Fourth Quarter Activity & Cashflow Report - 30 June 2010
Project news of Alliance Resources Ltd.
9/23/2016Tyranna and Alliance Resources form Strategic Joint Venture
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12/5/2011(Four Mile)Four Mile Project NTMA Litigation Adjourned
11/16/2011(Warrina)WarrinaCopper-Gold Project - MT Survey Commences
5/31/2011(Four Mile)FOUR MILE – NATIVE TITLE LITIGATION
4/18/2011(Four Mile)FOUR MILE URANIUM PROJECT OPTIMISATION STUDY
11/8/2010(Maldon)Maldon Gold Project
9/22/2010(Maldon)Maldon Gold Project
7/28/2010(Four Mile)Four Mile Uranium Project - Final Scoping Study
7/12/2010(Four Mile)Four Mile Uranium Project Scoping Study Results
5/19/2008(Four Mile) South Australian Premier Puts Weight Behind Four Mile Proje...
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5/26/201626-May-2016 Unmarketable Parcel Share Sale Facility
11/27/201527-Nov-2015 Results of AGM 2015
11/24/201525-Nov-2015 Alliance Applies for New Nickel Tenements, WA
10/26/201527-Oct-2015 Option to Purchase Mantos Tenements
10/14/201515-Oct-2015 Change of Director's Interest Notice
10/9/20159-Oct-2015 Update - Return of Capital - AGS
9/18/201518-Sep-2015 Four Mile Project - Completion of Sale to Quasar
9/11/201511-Sep-2015 Results of Meeting
9/11/201511-Sep-2015 Company Presentation - EGM
8/11/201511-Aug-2015 Notice of General Meeting/Proxy Form
7/14/201514-Jul-2015 Four Mile Project - Sale to Quasar Resources
4/27/201527-Apr-2015 3rd Quarter Activity and Cashflow Report - 31 Ma...
4/22/201522-Apr-2015 Four Mile Project Drilling Update
3/31/201531-Mar-2015 Trial Date Change
3/20/201520-Mar-2015 Amended Announcement Exploration Target Four Mil...
3/16/201516-Mar-2015 Half Yearly Report and Accounts
3/3/20154-Mar-2015 Final Placement Of Shortfall and Appendix 3B
2/23/201524-Feb-2015 Four Mile Northeast Exploration Target Update
12/29/201429-Dec-2014 ITOCHU Does Not Convert Deferred Share Rights
12/16/201416-Dec-2014 Lodgement of Supplementary Prospectus
12/10/201410-Dec-2014 Four Mile - Production Status
12/8/20148-Dec-2014 Loan Facility and Cash Call Payment
12/2/20143-Dec-2014 Letter to Overseas Shareholders regarding Rights ...
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11/28/201428-Nov-2014 Change in Substantial Holding for ORS
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11/18/201418-Nov-2014 Suspension Of Four Mile Sale Process
6/17/201417-Jun-2014 Four Mile Project Proposed Sale
3/27/201428-Mar-2014 Four Mile Project Commissioning
11/30/2011Appendix 3Y and Appendix 3B-Issue of Unlisted Options to MD
11/10/2011AGM 2011 - Results of Meeting - 10 November 2011
11/10/2011AGM 2011 - Chairman's Address to Shareholders
11/10/20112011 AGM Presentation by the MD Mr Steve Johnston
10/28/2011Company Presentation - Mining 2011 Brisbane
10/7/2011Notice of Annual General Meeting/Proxy Form
7/25/2011Sth Aus Government Announcement of Arkaroola Protection Area
6/22/2011Jordan
6/15/2011Arabs Today Article
5/18/2011Legal Proceedings Update
12/22/2010Maldon Sale Completion
11/25/2010AGM 2010 Results of Meeting 25 November 2010
11/25/2010AGM 2010 Chairman's Address to Shareholders
11/24/20102010 AGM Presentation by Mr Steve Johnston
8/19/2010Resignation of Non Executive Director
7/12/2010Federal Court Action
10/22/2009Notice of Annual General Meeting/Proxy form
10/9/2009Bell Potter - Company Update
4/29/2008Delivers Uranium Exploration Success
4/28/2008Boosted as Four Mile JV Gears Up for Mining Lease Applicatio...
2/26/2008BMO Capital Markets Metals and Mining Conf Presentation
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