Alliance Resources Ltd. said Oct. 16 that wholly owned subsidiary Alliance Craton Explorer Pty. Ltd. increased its interest in the Wilcherry gold joint venture in South Australia to 79.01% as of Sept. 30, while Tyranna Resources Ltd. subsidiary Trafford Resources Pty. Ltd. diluted its interest to 20.99%.
Alliance increased its interest from 75.01% as of June 30 by sole funding expenditure for the quarter ended Sept. 30. Trafford has elected not to contribute to Wilcherry's budget for the period of July 1 to June 30, 2019, of A$3.2 million.
The company said its interest in the joint venture may further increase to 83.64%, if actual expenditures reached the approved budget.