Allegiance Mining NL (ASX:AGM) is an Australian

mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the econom ...

company listed on the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...

on 29 October 1993. Allegiance operated the Avebury

nickel Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow t ...

mine project on the west coast of

Tasmania ) , nickname = , image_map = Tasmania in Australia.svg , map_caption = Location of Tasmania in AustraliaCoordinates: , subdivision_type = Country , subdi ...

, Australia. Allegiance had an ongoing exploration effort targeting nickel sulphide deposits around the Avebury nickel project area and production was scheduled to start in 2008. Avebury was a significant nickel sulphide discovery located 8 km west of

Zeehan Zeehan is a town on the west coast of Tasmania, Australia south-west of Burnie. It is part of the West Coast Council, along with the seaport Strahan, and neighbouring mining towns of Dundas, Rosebery and Queenstown. History The greater ...

. The mineralisation is essentially remobilised nickel sulphide (

pentlandite Pentlandite is an iron–nickel sulfide with the chemical formula . Pentlandite has a narrow variation range in Ni:Fe but it is usually described as having a Ni:Fe of 1:1. It also contains minor cobalt, usually at low levels as a fraction of wei ...

mineral) and is of simple metallurgy, producing some of the world's highest-grade nickel sulphide concentrate. On February 21, 2023, Allegiance Mining's U.S. division filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

protection.

Takeover Offer by Zinflex

On 17 December 2008, Allegiance received a bid from Ziniflex Australia Limited ("Ziniflex") at $0.90 cents per share (increased to $1.00 per share if the bid was successful). The Board initially rejected this bid, but on 22 February 2008, the Board recommended shareholders accept the increased offer of $1.10 per share, and accepted for all shares owned or controlled by Board members. In March 2008 the board of directors recommended to shareholders the sale of Allegiance Mining to

Zinifex Zinifex was an Australian company that operated lead and zinc mines, refineries and a lead smelter. It was established in April 2004, when the assets of Pasminco were spun-off. In 2008 it merged with Oxiana to form OZ Minerals. History In ...

Limited for $1.10 per share. Avebury was then later owned by QCG Resources.

References

Mining companies of Australia Companies formerly listed on the Australian Securities Exchange Companies that filed for Chapter 11 bankruptcy in 2023 {{Australia-company-stub