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Shareholders consider $74m offer for uranium mine

Shareholders consider $74m offer for uranium mine

Gail.Owen

Australian natural resources company Alliance Resources received an offer for its interest in the Four Mile Uranium Project.

Firms: HWL Ebsworth (Alliance Resources); Allens Linklaters (Quasar)

Deal: Quasar seeks to buy out Alliance Resources' interest in the Four Mile Uranium Project.

Value: $73.98 million

Area: M&A

Key players: The deal was led by HWL Ebsworth partner Gail Owen (pictured). Thomas Kim (partner) and David Woodford (senior associate) advised on the commercial aspects of the transaction. Michael Durrant (partner, Adelaide) conducted the Supreme Court proceedings with Kate Brandon (senior associate). Emma Carnell (solicitor) and Jake Cole (solicitor) assisted.

Deal significance:
Four Mile is a large uranium mine in far north South Australia, operated as a joint venture by Quasar Resources and Alliance Resources.

Alliance Resources has now obtained an offer for the purchase of its interest in the Four Mile Uranium Project from Quasar.

According to HWL, a South Australian Supreme Court proceeding between Alliance and Quasar has been stayed to allow the $73.98 million offer to be considered by Alliance shareholders and is also subject to government approval. The board of Alliance unanimously recommends the offer.

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Shareholders consider $74m offer for uranium mine
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