GULLEWA LIMITED

GUL - Quarterly Activities and Cashflow Reports

GUL - Gullewa Announces Widespread Alteration at Dandaloo

Gullewa advised that the company completed a five-hole drilling program for 1,030m at its Dandaloo project in Central NSW at the end of January 2013. The drilling did not intersect any zones of non-pyritic sulfides or thick zones of pyrite, however the drilling did intersect widespread chlorite and epidote alteration. A preliminary review of the analytical data has revealed possible widespread depletion of many elements, possibly associated with the alteration. A detailed analysis of the drill hole analytical data is underway but will not be completed until the results of petrological studies of drill core samples have been completed.

Members, apecsos has just placed a close trade request on GUL.

The original trade was long and a quantity of 100000 shares placed on 2013-02-19.

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Members, apecsos has placed a new open trade request on GUL.

apecsos has decided to go long with 100000 shares.

These are the comments placed a few moments ago by apecsos with the trade request :

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GUL - Quarterly Activities and Cashflow Report

GUL - Drilling Commences At Dandaloo, Central NSW


Gullewa Limited is pleased to announce that its wholly‐owned subsidiary, Claymor Resources Pty Ltd (“Claymor”), has commenced drilling at the Company’s Dandaloo project south of Nyngan in central New South Wales.

GUL - Gullewa Announces Central Iron Ore Drills 7m @ 27.1g/t Au


Gullewa provided an announcement by its 36.1%-owned company, Central Iron Ore (CIO), which advises that the following significant gold results have been received by CIO at its South Darlot gold project in WA: 4m @ 50.3g/t Au, including 1m @ 158g/t Au; and 7m @ 27.1g/t Au, including 1m @ 159g/t Au. The recent drilling program focused on the first 2 of the 31 gold targets identified within the South Darlot gold project area (being 24 targets located on tenements that are the subject of the Barrick JV and 7 targets on 100% CIO owned tenements).

The following significant gold results have been announced by CIO at its South

Darlot Gold Project in Western Australia :

 4m at 50.3 g/t Au including 1m at 158 g/t Au from 43m.
 7m at 27.1g/t Au including 1m at 159 g/t Au from 46m.
 4m at 23.2 g/t Au including 1m at 81.8 g/t Au from 28m.
The full announcement by CIO follows. Gullewa Limited owns 36.1% of CIO.

Tony Howland‐Rose commented : “These results are most encouraging. The
location is only 3km from CIO’s British King Mine Site and 7km from Barrick’s
Centenary Mine”.

Regent Pacific Group emerges as a substantial holderof AHQ with 6.6%
Colin Randal 14.2%
GUL 57.75%

AHQ LISTS 29 MAY 2012
Yesterday Allegiance Coal Limited listed on the ASX with the majority volume being in the range
of 12.0 cents to 12.5 cents. As a large shareholder, I was disappointed on our first day! However,
as we are in a time where some 40 potential IPOs have been withdrawn, it is perhaps
understandable.

As you are all aware, Allegiance Coal has what, we believe, is a first class portfolio of prospects
and, subject to the currently planned drilling programmes at Back Creek and Kilmain, with
excellent prospects over the coming medium term. Of great importance is that under Managing
Director, Colin Randall, we have assembled an experienced group of professionals capable of
materialising and implementing our plans. When 3 billion people in the developing world strive
to acquire the standard of living that the top billion now have, future demand for energy – and
that means coal will continue to accelerate.

Allegiance plans to be ready to meet that certain
demand!



ALLEGIANCE COAL LIMITED (ASX : AHQ)
DRILLING TO COMMENCE AT BACK CEEEK
ON 7 JUNE 2012

Allegiance Coal Limited (the Company) is pleased to announce that
drilling will recommence at its Back Creek (EPC 1297) project in the Surat
Basin on Wednesday 7 June 2012. This follows the successful IPO raising
of $7 million and listing of the Company on the ASX on Tuesday 29 May.

The latest drilling program at Back Creek will entail the drilling of 32
holes, including 5 cored holes. The program is expected to be
completed by mid August 2012 (weather permitting) and has been
designed to provide sufficient information to allow the reporting of JORC
Resources in Q3 2012 .

The Company completed its earlier drilling in the northern section of EPC
1297 in Q2 2011. To enable drilling in the southern part of the
tenement, negotiation of site access agreements and the clearing of drill
sites has been required within the Barakula and Quandong State Forests
which have been completed over the last few months. See plan over
page.

The company has a target of 60 to 80 million tonnes of shallow, open cut
low ash thermal coal for the Back Creek Project.

....and currently only 3 sellers with 128,945 shares

Allegiance Coal focused on coking and thermal coal in Queensland, admitted to ASX
Thursday, May 24, 2012 by Angela Kean


Allegiance Coal (ASX: AHQ) is expected to hit the boards of the ASX on Tuesday May 29, with a focus on coal exploration in Queensland.

The impending listing follows a successful IPO offering 35 million shares at A$0.20 each to raise $7 million.

Name: Allegiance Coal
Proposed listing date: Tuesday May 29
Proposed code: AHQ
Principal activities: Coal exploration
Issue price: $0.20

Allegiance has accumulated 14 tenements covering 2,361 square kilometres within seven Queensland coal basins, including the Bowen and Surat Basins.

Extensive exploration has been carried out on two of the company’s projects – Back Creek and
Kilmain – which has confirmed their prospectivity.

The Back Creek thermal coal project, with an initial exploration target of 60 to 80 million tonnes, is located in the Surat Basin.

The Kilmain coking and thermal coal project is situated in the Bowen Basin and has an initial exploration target of 100 to 200 million tonnes.

With the money raised from the IPO, Allegiance plans to undertake an aggressive resource definition drilling program over the next two years at both projects.

The company is targeting a JORC Resource at Back Creek by November 2012 and at Kilmain by the June quarter of 2013.

Yes, Helly,it was only a matter of time. The thing about these kind of shares is that they are tightly held - you want, you pay the asking price

Just goes to show, some dude in The Eureka report does a write up and bingo. No-one listens to MP

Certainly a standout performer on my watchlist today.

Bloody Nora!

Also out today, Colin Randall's presentation "The Back Creek Project"........

5th Surat Basin Coal and Energy Conference
Colin Randall
Managing Director

Could be the Eureka Report .......

Something is happening here this morning - up 35%, no news - buyers suddenly come out of nowhere

25 buyers for 2,699,643 shares
6 sellers with 315,209 shares

article appearing in yesterday's Australian....

makes AQC vwey cheap at $19 mill mkt cap & a very exciting company maker Jv with RIO..dyor good luck

Full AFR article....

GUL/Allegiance 3/4 page article in AFR - p33 - Experience comes with the price.

Main points - comparison to Cuesta Coal which recently raised $34 mil. Allegiance $7 mil.

Cuesta has inferred resource of 56.3 mt thermal, Allegiance has target of 160-280 mt (no JORC)

Cuesta's most promosing project is E.Galilee (outside official boundary), Allegiance deliberately has no Galilee projects as it has doubts about proposed rail infrastructure. several of Allegiance projects are near coast/rail.

Market cap Cuesta $67m, Allegiance $35.5m indicative - Allegiance has earlier stage projects but its 2 key projects are less speculative than Cuestas

Cuesta run by 30 yo, Allegiance run by Randall with more than 40 yrs in the coal biz (his Comet Coal was sold to SMR, chaired Independent Coal which was sold to COK, etc)plus the former Allegiance Mining team of Tony Howland Rose & David Dietz (sold Avebury to Zinifex)

GUL's stake in Allegiance is worth around $20 m - higher than its market cap.

Investors might baulk at the high % of shares kept by seed investors, and should also consider related party transactions

Avebury team now on coal hunt
Wednesday, April 04, 2012 » 06:18pm

LIVE: Breaking News

Allegiance Coal is the latest venture from the Allegiance Mining team that co-created the OZ Minerals merger

Wealth Generation The company that offloaded the troubled Avebury nickel mine in Tasmania for a pretty penny has re-emerged as a Queensland-focused coal explorer that seeks to list next month.

Allegiance Coal is the latest venture from the same Allegiance Mining team that in early 2008 backed an $852 million, top-of-the-market takeover by Zinifex, which later that year merged with Oxiana to create OZ Minerals.

Allegiance Coal chairman Tony Howland-Rose, who held the same role with Allegiance Mining, on Wednesday said in an email that the 'old Avebury team' had been busy for the past four years amassing 14 coal tenements covering 2,361 square kilometres in Queensland.

Its initial public offer of 35 million shares at 20 cents per share to raise $7 million opened last week.

The company plans to list on the Australian Securities Exchange on May 15.

Mr Howland-Rose said in the explorer's prospectus that the company was considering different development options for its projects, including joint ventures.

So far, it plans to develop the Back Creek thermal coal project in the Surat Basin and Kilmain coking and thermal coal project in the Bowen Basin, and to this end has already started work to secure rail and port capacity.

The projects are close to existing and planned infrastructure connecting to the export port at Gladstone.

Allegiance Coal also said in its prospectus that mergers and acquisitions would complement its planned growth.

Mr Howland-Rose was widely credited as having sealed a good deal for shareholders with the Allegiance Mining takeover in 2008, which was purely aimed at delivering Avebury, the target's flagship asset, to Zinifex as it sought to diversify from zinc into different metals.

The mine wasn't even in production at the time.

But by the end of 2008 after only a few months of output, new owner OZ Minerals announced Avebury's closure after costs of production ballooned and nickel prices fell.

OZ Minerals in 2009 booked a substantial write-down for Avebury, then sold the asset to China's MMG, which last year moved to sell the mine after a planned re-opening was scuppered by a technical challenge, namely too much arsenic in the nickel ore.

April 20:20 Investor Series: Coal
presented by Colin Randall

Allegiance Coal Limited

Proposed ASX code: AHQ

Proposed listing date: 8 May 2012

Hi ghosta - been a while since I saw your name here

Well, you know the “beards” – light on keeping the shareholders informed. Their idea of “informed” is put out Qrtly Report every now and then. I think that will change in the coming month(s) with the Allegiance IPO drawing to a close.

The Allegiance website is up and running - http://allegiancecoal.com.au/corporate.php#med

Washability tests from the 2 cored holes back Creek were expected in Jan/12

We’ve got several drilling programs planned – Back Creek (ditto Kilmain) – 2Q12 (after wet season), followed by resource estimate early 2H12.

They’ll have access to the new Surat Basin rail project - http://www.deedi.qld.gov.au/cg/surat-basin-infrastructure-corridor.html

Should get some news from the CIO field work in WA soon.

They mentioned they were pursuing potential jv’s in lignite in South Australia via Hydromining Coal Australia and waiting for granting of a couple of other Qld lignite blocks – currently competing . Apparently they have developed a “non-entry” mining method they hope to test.

They’ve got a good team in place – Colin Randall has been selling the Allegiance story at various conferences. I’ve got confidence they‘ll do justice to “Allegiance Mark II”

When I first became interested, sp was @ 3.4c and it went to 20c. Hoping for a second run.

Moneypenny, I know you have been following this one for many years now, and I havent been keeping up since the Allegiance mining days. Whats your take on GUL now?

Allegiance coverage in "Australasian Mining Review Bi-annual".

"Allegiance Coal is planning
to be a 10Mtpa independent coal producer with first coal in 2017."

Small volume ATM, but looks good.

Further drilling results (2 holes) at Kilmain and core sample analysis of 1st hole due any day

Thats gullewa with 2 l's by the way.

Looks nice.

up and running....