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ALARA RESOURCES LIMITED — Capital/Financing Update 2017
Dec 13, 2017
64461_rns_2017-12-13_2b97a1ee-e336-4dcc-999e-a7f78162a826.pdf
Capital/Financing Update
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Alara Resources Limited Telephone | +61 8 9322 3383 A.B.N. 27 122 892 719 Facsimile | +968 2449 2491 Level 11, 216 St Georges Tce, Web | www.alararesources.com Perth WA 6000, Australia Email | [email protected] PO Box 1227 West Perth WA 6872
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ASX/MEDIA RELEASE
Thursday, 14 December 2017
OMAN PROJECT UPDATE
Perth: Alara Resources Limited (ASX: AUQ) ( Alara or Company ) advises that the registered commercial activities of Al Hadeetha Resources LLC now includes the mining of copper.
Further to the Company’s announcement of 22 November 2017, the commercial registration certificate of the project company, Al Hadeetha Resources LLC, has been amended by the Ministry of Commerce and Industry to provide for “mining of ores valued chiefly for selected non-ferrous metals, [including] copper, and [selected] precious metals ‘ licence pending’ ”. This important step is indicative of further favourable action relative to the issuance of the Washihi Mining Licence.
Following the Company’s announcement of 1 December 2017, the first instalment of 15,750,000 ordinary fully paid Alara shares has been issued to Al Hadeetha Investments LLC (‘Al Hadeetha’) at an issue price $0.03 per share, bringing the Company’s total issued capital to $65,642,492.
Al Hadeetha is joint venture partner with Alara Oman Operations Pty Ltd in the Al Hadeetha Copper Gold Project in Oman.
For further information, please contact:
Justin Richard T | +968 2449 1162 Managing Director E | [email protected] Ian Gregory T | +61 8 9322 3383 Company Secretary E | [email protected]
About Alara Resources
Alara Resources Limited (ASX: AUQ) is an Australian minerals exploration company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study on the Khnaiguiyah Zinc-Copper Project in Saudi Arabia, an Advanced Scoping Study on the Daris and Washihi, Mullaq and Al Ajal exploration licences in Oman and a Feasibility Study for the Al Hadeetha Copper Gold Project, Washihi ore reserve. The Company is transitioning to establish itself as a base and precious metals mine development and production company. For more information, please visit: www.alararesources.com.
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ASX Code | AUQ