March 10 (Reuters) - Ausquest Ltd AQD.AX :
* ASX ALERT-AQD AND SOUTH32 EXTEND STRATEGIC ALLIANCE AGREEMENT,S32-AQD.AX
* AGREED WITH SOUTH32 TO EXTEND STRATEGIC ALLIANCE AGREEMENT BETWEEN TWO COMPANIES
* SAA HAS BEEN EXTENDED FOR FURTHER TWO YEARS TO 31ST DECEMBER 2021, SUBJECT TO FURTHER EXTENSION
* UNDER TERMS OF UPDATED SAA, AUSQUEST WILL RECEIVE AN ADMINISTRATION FEE EQUAL TO 15% OF MONIES EXPENDED ON ALL PROJECTS UNDER SAA
* WILL CONTINUE TO MANAGE INITIAL PROGRAMS IN CONSULTATION WITH SOUTH32 TO ADVANCE EACH PROJECT TO DRILL-READY STATUS AS QUICKLY AS POSSIBLE