AAA - Allana Resources Inc. TSX-V

I really like this stock, loads of potential. Allana also recently got listed on the US OTC as a pink sheet, I made a thread on there as well.

I'm liking Allana for today, looks like it might run some here.

Loewen, Ondaatje, McCutcheon Initiates Analyst Coverage on Allana Resources
11/5/2009 11:27:38 AM - Market Wire

TORONTO, ONTARIO, Nov 5, 2009 (Marketwire via COMTEX News Network) --
Allana Resources Inc. (TSX VENTURE:AAA) ("Allana" or the "Company"), is pleased to announce that Loewen, Ondaatje, McCutcheon Inc. ("LOM") has initiated analyst coverage of Allana. For further information and access to the report, please contact Mr. Michael Fowler at LOM. Mr. Fowler can be reached by email at mfowler@lomltd.com or by telephone at 416 964-4440.

Allana's Ethiopia Potash Project is comprised of three mineral concessions totaling approximately 150 square kilometers in Ethiopia's northeastern Danakil Depression, one of the largest evaporite basins in the world. The project area is approximately 100 km from the Red Sea coast and the sea port of Mersa Fatma, Eritrea and 600 km via road from the deep water port of Djibouti. Allana's concessions have an inferred resource estimate of 105,200,000 tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (see News Release Sept. 17, 2008) that is open along strike and to depth. Potash deposits of the Danakil Depression are unique due to their shallow depth and may be amenable to open pit or solution mining and solar evaporation.

Peter J. MacLean, Ph.D., P. Geo., Allana's VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.

About Allana Resources Inc.

Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has approximately 80.8 million shares outstanding and trades on the TSX-Venture exchange under the symbol "AAA".

bought 50k shares at 32.5 cents

Allana Resources Announces $2 Million Private Placement and a Strategic Off-Take/ Financing Deal With a Chinese Mining Group
11/4/2009 1:27:29 PM - Market Wire

TORONTO, ONTARIO, Nov 4, 2009 (Marketwire via COMTEX News Network) --
Allana Resources Inc. (TSX VENTURE:AAA) ("Allana" or the "Company"), is pleased to announce that following the review of several proposals to participate in Allana's potash project in Ethiopia (the "Project") (See News Release dated October 28, 2009), Allana has decided to enter into a strategic offtake/financing agreement (the "Offtake/Financing Agreement") with China Mineral United Management Ltd ("China Mineral") and announces an initial $2 million private placement financing with China Mineral (the "Strategic Investment").

The Strategic Investment will be by way of a non-brokered private placement for gross proceeds of $2,000,000 based on the issuance of 8,000,000 common shares at a price of $0.25 per common share.

Closing of the initial $2 million Strategic Investment is anticipated to occur on or about November 5, 2009 or as soon thereafter as practicable (the "Closing Date") and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The common shares issuable will be subject to resale restrictions for a period of four months plus one day from the Closing Date.

In addition, based upon management's review and recommendation, Allana has agreed to negotiate the Offtake/Financing Agreement with China Mineral, a Chinese mining investment group closely associated with one of the largest fertilizer companies in China. Pursuant to the proposed Off-take/Financing Agreement, China Mineral would acquire 20% of the Project's total potash production at a price discounted to the market price and equal to Allana's full operating and shipping costs plus a profit margin for Allana. This potash pricing structure will continue until China Mineral completely recovers its initial investment of the Construction Costs described below. Once China Mineral recovers its initial investment, it is proposed that the pricing will then be negotiated in good faith, based on international potash market price benchmarks.

As consideration for the Offtake/Financing Agreement, it is proposed that China Mineral will commit to finance 35% of the Project's required construction costs, which, based on current estimates are expected to be approximately US$280,000,000 (the "Construction Costs"). Allana also believes that its strategic relationship with China Mineral positions the Company well to attract debt financing in the future as required, which will further enhance the Project's return on equity.

Allana management believes that the Project is a significant potash asset that is undervalued based on Allana's current market capitalization, partially due to the financing risk associated with advancing the Project to commercial operations. Allana management also believes that any potential transaction whereby direct or indirect economic control of the Project changes hands at this early stage of the Project's development, is not in the best interests of Allana's shareholders. As such, management's primary objectives in negotiating a transaction structure were: (i) to significantly reduce the financing risks associated with the Project; and (ii) to allow Allana to retain full economic control of the Project in order to maximize value for Allana shareholders in the future, including being paid a change of control premium for the Project. The Offtake/Financing Agreement and Strategic Investment, in Allana's view, fulfill both of these objectives. Furthermore, Allana remains strategically positioned to freely continue discussions with any strategic counterparty, including ChinaCo. (see News Releases dated July 20, 2009 & September 15, 2009), and can pursue other mutually beneficial transactions.

Farhad Abasov, Allana's President and CEO, stated "We are delighted to be forming a strategic relationship with China Mineral as this marks an important milestone in the development of our potash project. We believe that this approach will result in near-term value creation for Allana shareholders while at the same time, preserve long-term shareholder value going forward. China Mineral is a strong mining group and we were particularly impressed with the professionalism, enthusiasm and speed with which they pursued and concluded negotiations. We look forward to working with China Mineral in developing this outstanding potash project."

The net proceeds of the Strategic Investment will be used to fund exploration and development of the Project and for general corporate and working capital purposes.

FOLLOW THE 20 DAY MOVING AVERAGE WHICH IS DOING RIGHT NOW

Some extensive analyst coverage - great reading. I'm trying to pick some up at 0.33 today.

http://research.dundeesecurities.com.../AAA111109.pdf

Thanks tofu, I called Loewen, Ondaatje, McCutcheon who initiated the coverage and they told me that cant give me the report because it is only intended for their clients but the target price was $1.4 for the next 12 months. Dundee has it at $1.00 wow

My order filled at 0.33 this morning. Going to ride this one out and see where it takes me.

good buy at .33 i see this moving up .10 - .15 cents in the next couple of days was hoping to get in at .32 but it seems like its not gonna come back

going up 10-15 cents in the next couple of days!! I think it is more like going up slowly and following its 20 day moving average, what gave AAA that 44 cents 2 weeks ago is the coverage initiation by 2 brokers. They still need to find money for the rest of the 2/3 or the project which WILL include in part a PP to raise money imo. I am just being realistic, this one still going to trade above $1 but it is not a pump and dump stock like the DEC one. It is more like buy and hold few some time. Potash prices are lower than what they were at last year

as you see prices went down from $650 to $450 in short time, if the price of potash starts moving up again, expect more interest in all Potash companies including AAA

These guys have a resource that's up their with API which is trading at around the $6 level, so I'm very interested to see where this might go once the up-swing starts again.

Some news today.

Allana Resources Inc.

TSX VENTURE: AAA
Dec 01, 2009 07:30 ET
Allana Resources Announces Drill Contract Awarded for Its Ethiopian Potash Project, Appointment of New Corporate Secretary and Grant of Options

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana"or the "Company"), is pleased to announce that it has awarded a drilling contract to Emerson Moore Drilling Ltd. ("EMD") for its Ethiopian Potash Project. EMD has extensive drilling experience and has completed projects in Equatorial Guinea, Liberia, Georgia, Slovakia, Jamaica, Spain, Kenya, Sudan, Kosovo and UK. EMD has successfully completed geotechnical and exploration drilling projects for a number of clients including Alcoa, Inc., ArcelorMittal, Golder Associates and Scott Wilson Group plc.

Allana is planning a 6-hole 2,500 metre drill program designed to confirm historic drilling results, to confirm the accuracy of the previous resource and to potentially increase the resource. Drilling is expected to begin in late January following the road rehabilitation currently underway and camp construction. It is expected that drill holes will vary in depth from 250 metres to 800 metres and will test both potash horizons near the current resource as well as in the centre of the evaporite basin. This will be the first phase of Allana's exploration program. It is planned that the drill program will be followed by down-hole seismic studies (vertical seismic profiling) and a program of surface 2D seismic over the southern part of the basin.

Farhad Abasov, Allana's President and CEO, stated: "Allana is very excited to complete this contract with EMD. This is the first step in fast-tracking our exploration program. EMD has extensive experience throughout Africa and in remote locations. We are also very pleased that the Ethiopian government is currently rehabilitating one of the roads leading to our project, and camp construction is scheduled to be completed for mid-January. Allana is looking forward to completing the first potash drill holes in the Danakhil Depression evaporite basin in over 30 years."

In addition to the drilling contract, Allana is pleased to announce the appointment of Ms. Brianna Davies as Corporate Secretary. Ms Davies is a corporate lawyer who works as a legal consultant to several publicly traded and private companies in the resource sector. Brianna received a Juris Doctorate from the University of Toronto in 2005 and an Honours B.A in Economics from McMaster University in 2002. Ms. Davies replaces Mr. Pat Gleeson who has resigned as Corporate Secretary but will continue on as a consultant to the Company.

In addition, the Company announces that it has granted a total of 1,350,000 stock options to various officers, directors and consultants to the Company pursuant to the stock option plan. The options will be exercisable for $0.315 per option and shall expire on December 1, 2014. Such options shall vest immediately subject to the applicable regulatory hold period. The grant of options remains subject to receipt of all required regulatory approvals.

In its press release dated October 6, 2009 Allana erroneously reported that Calivia Global LLC (Calivia) was formerly Nova International. The Company wishes to clarify that Calivia is an independent company specializing in the construction of modular camps and is in no way affiliated with Nova International.

Peter J. MacLean, Ph.D., P. Geo., Allana's VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.

sold at 32.5 cents today, something might be up but not taking chances

Anyone know what the scoop is with this one?

It shows in my TD without a Buy or Sell and now a * beside the name?

Bankrupt, am I out my small investment?!

They are still trading (7,400 shares today so far), but today marks the first day under their new name, Allana Potash Corporation.