The offer also includes ACE’s share of uranium oxide concentrates already mined worth an estimated $25m.
Alliance Resources said it is currently seeking advice on the offer and will consider it further after availability.
Alliance had earlier rejected Quasar’s offer of $57.6m, citing that it was below fair value.
The Four Mile uranium project is located 550km north of Adelaide in South Australia. The deposit was discovered in 2005.
It is a sandstone-hosted occurrence defined by two mineralised zones within Tertiary age sediments, Four Mile West and Four Mile East.
Alliance said they occur within laterally extensive, reduced sands and silty sands below the water table at 140m to 210m depth.
The initial resource at Four Mile West is 3.9 million tonnes at 0.37% uranium oxide featuring 15,000 tonnes of uranium oxide.
The South Australian Government is supporting the Four Mile project, which is anticipated to be amenable to in situ leach mining.
