Alliance Resources Limited (ASX Code: AGS) is an Australian gold and base metals exploration company with projects in South Australia and Western Australia.
Alliance listed on the Australian Stock Exchange 1994 after raising the funds to acquire the Victorian gold assets of Triad Minerals N.L. Alliance’s main asset at that time was the Maldon gold project, which it intermittently operated and explored from 1994 until its divestment in 2010.
Between 2002 and 2015, Alliance was involved in a joint venture, the Four Mile uranium project, in South Australia. Alliance sold its interest in Four Mile in 2015 for $73.975 million and returned approximately $57 million to shareholders as capital returns.
In 2016, Alliance entered into an agreement with Tyranna Resources Limited to acquire 51% equity in the Wilcherry Project in the mineral rich Gawler Craton, South Australia for $2 million. The Wilcherry project is the Company’s flagship asset. Alliance is increasing its interest in the project (currently 67.35% as at 31 December 2017) through sole funding exploration expenditure in FY2018.
Alliance also has 100% owned projects which are prospective for nickel and gold at Nepean South and Gundockerta South in Western Australia.