AI assistant
ALARA RESOURCES LIMITED — Capital/Financing Update 2017
Nov 30, 2017
64461_rns_2017-11-30_da04f7bd-1ad0-46b2-b0e0-b8958ddf7f94.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
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
==> picture [121 x 58] intentionally omitted <==
ASX/MEDIA RELEASE
Friday, 1 December 2017
SHARE PLACEMENT
Perth: Alara Resources Limited (ASX: AUQ) ( Alara or Company ) is pleased to announce Al Hadeetha Investments LLC (”Al Hadeetha”) is to become a shareholder in the Company.
Al Hadeetha is joint venture partner with Alara Oman Operations Pty Ltd in the Al Hadeetha Copper Gold Project in Oman (the “Project’).
Pursuant to resolution five passed at the Annual General Meeting last month, and a share placement agreement signed this week, Al Hadeetha will receive 31,500,000 shares at an issue price of $0.03 per share, with the shares being issued in two lots over the next month.
Alara’s Managing Director commented:
“It has been over five years since Alara entered a joint venture agreement with Al Hadeetha. Throughout this time, Alara and Al Hadeetha have worked hand in hand to complete the exploration phase.
As we approach our next major milestones, I am pleased to welcome Al Hadeetha as a shareholder in the Company. This step will further strengthen the relationship with Alara and align interests at a key stage of the Project’s development.”
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.
==> picture [56 x 56] intentionally omitted <==
ASX Code | AUQ