TOUTED AS THE best uranium discovery in Australia during the last 20 years, the Beverley Four Mile prospect in South Australia shot Alliance Resources Ltd onto the radar screen of many investors last year when its share price recorded an eight-fold increase. The prospect, in which Alliance holds a 25 percent interest, forms part of the Arkaroola Uranium joint venture in which Quasar Resources Pty Ltd (an affiliate of Heath gate Resources Pty Ltd - owners of the nearby Beverley uranium mine) holds the balance. Alliance has a free carried interest in the JV until such time as a decision to mine is made. In formulating the deal with Quasar, not only did Alliance secure the services of a company with operating experience in uranium, but one with obvious synergies, particularly in terms of the nearby infrastructure at the Beverley mine.
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