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ALARA RESOURCES LIMITED — Capital/Financing Update 2015
Sep 17, 2015
64461_rns_2015-09-17_9b0c558a-8cde-4691-be07-88038faf26a3.pdf
Capital/Financing Update
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Alara Resources Limited A.B.N. 27 122 892 719 Level 11, 216 St Georges Tce Perth WA 600, Australia GPO Box 2517 Perth WA 6831
Telephone | +61 8 9481 0389 Facsimile | +61 8 946306103 Web | www.alararesources.com Email | [email protected]
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ASX/MEDIA RELEASE
Friday, 18 September 2015
KHNAIGUIYAH PROJECT UPDATE
Perth: Alara Resources Limited (ASX: AUQ) ( Alara or Company ) reports on the submission of a new mining licence application in Khnaiguiyah, Saudi Arabia.
New Mining Licence application submitted
The Company refers to the licensing section of its Quarterly Activities Report[1] . In particular, exploration licences and applications included in the Shareholders’ Agreement between Alara and United Arabian Mining Company that are expired and/or cancelled.
Further to the latest announcement regarding Alara’s joint venture with Bayan Mining Company LLC (‘Bayan’)[2] , the Company is pleased to report that further steps are being taking to help preserve existing value and upside potential[3] of the Khnaiguiyah Project.
Bayan has now submitted a mining licence application over areas that are adjacent to the Khnaiguiyah Mining Licence, including the southern end of the K3 pit[4] .
Further updates will be provided as developments occur.
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For further information, please contact:
Justin Richard T | +61 8 9481 0389 Managing Director E | [email protected] Elizabeth Hunt T | +61 8 9481 0389 Company Secretary E | [email protected]
About Alara Resources
Alara Resources Limited (ASX: AUQ) is an Australian-based minerals exploration and mine development company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study (DFS) on its Khnaiguiyah Zinc-Copper Project in Saudi Arabia, an Advanced Scoping Study on its Daris/Washihi Copper-Gold Projects in Oman and an Updated Advanced Scoping Study on its Washihi Project. For more information, please visit: www.alararesources.com.
1 Refer page 3 of Alara’s Quarterly Activities Report dated 31 July 2015
2 Refer Alara’s ASX Market Announcement dated 20 August 2015: Alara and Bayan Extend Framework Agreement to include Khnaiguiyah Sites.
3 Refer “Future Growth and Opportunities” section page 20 of the Company’s 2014 Annual Report.
4
Refer page 4 of Alara’s ASX Market Announcement dated 30 April 2013: Positive DFS Khnaiguiyah Zinc-Copper Project
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ASX Code | AUQ