Alara Resources Limited

Published : May 31st, 2016

Project Updates

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  

Project Updates

announcement - revised timetable

Perth WA 6000, Australia

GPO Box 2517

Perth WA 6831

Email | [email protected]


Tuesday, 31 May 2016


Alara Resources Limited (ASX: AUQ) (Alara or Company) provides this status update on its projects in Oman and Saudi Arabia.


Project Financing

The Company is making steady progress towards selection of a major project financing arrangement; this includes consideration of both Sharia compliant and conventional banking products. In addition, vendor financing options are also being considered with key suppliers.

Al Hadeetha Mining Licence

Steady progress is also being made on the mining licence application, with our JV partners' Group Head of Administration reporting that the Ministry of Housing and Ministry of Water & Electricity have submitted approvals of the Al Hadeetha Copper project to the Public Authority of Mining.

Infill Drilling Program

Further to the drilling update of 10 May, it is confirmed that samples from the first three drill holes were dispatched via DHL to the ALS laboratory in Jeddah over two weeks ago.

Drilling will continue into June. This is due to a number of RC drill holes having to be abandoned after encountering ground water and mechanical inability of the drill rig to penetrate the fracture zones above mineralisation. Relatively hard host rock below fractured rock formations associated with water impacted adequate sample recovery. The drilling program was subsequently converted to core drilling.

As on 30th May, a total of 564 meters of drilling had been completed in 6 holes and a total of 173 RC samples have been dispatched to ALS Jeddah with lab results expected next week.

Despite the delays, the Company recognises and appreciates the extra effort being exerted by the drilling company at no additional cost to Alara.


New Saudi Ministers Appointed

Following the recent announcement of Saudi Arabia's 2030 vision, which includes plans to increase output of the mining sector, a number of key ministerial changes took place.

King Salman has replaced Ali Al-Naimi, who had served as Minister of Petroleum and Mineral Resources for more than twenty years, with Khalid Al- Falih, chairman of the state oil company Saudi Aramco. This change comes amid major economic reforms announced by Deputy Crown Prince Mohammed bin Salman. The reforms are directed towards reducing the Kingdom's reliance on oil and growing other parts of its economy, including the mining sector.

Khalid al-Falih, has a key role in these reform plans as head of the renamed 'Energy, Industry and Mineral Wealth Ministry'.

Khnaiguiyah Mining Licence

Further to the Company's announcement dated 3 May 2016, the Company is advised that Bayan's Mining Licence application is currently before the mineral licencing department of the Energy, Industry and Mineral Wealth Ministry (formerly the Ministry of Petroleum and Mineral Resources).

Legal Proceedings

Following the Company's previous legal update of 19 May 2016, legal counsel for Alara appeared before the Saudi Board of Grievances on 25 May 2016. However, in an apparent clerical error there was no hearing scheduled and the next court date was scheduled for 26 July 2016 (after Ramadan).

Neither Alara nor Manajem know why the court set a period of three months between hearings. The Judge previously asked the parties to see if an out of court resolution could be reached, and this gap may have been to create space for that to occur.

With the Khnaiguiyah Mining Licence no longer in Manajem's possession, Alara would expect any settlement discussion to include the refund of US$3,266,000 to Alara, being the amount which Alara paid Manajem to effect (and not hinder) the transfer of the mining licence to the Khnaiguiyah Mining Company LLC.

- End -

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 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 Al Hadeetha Copper-Gold Projects in Oman, and a Feasibility Study for the Al Hadeetha Project, Washihi deposit. The Company is transitioning to establish itself as a base and precious metals mine development and production company. For more information, please visit:

Read the rest of the article at
Data and Statistics for these countries : Australia | Georgia | Oman | Saudi Arabia | All
Gold and Silver Prices for these countries : Australia | Georgia | Oman | Saudi Arabia | All

Alara Resources Limited

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile

Alara Resources LTD is based in Australia.

Alara Resources LTD is listed in Australia. Its market capitalisation is AU$ 35.1 millions as of today (US$ 25.4 millions, € 22.2 millions).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 0.48, and its lowest recent point on June 05, 2015 at AU$ 0.01.

Alara Resources LTD has 595 689 984 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Project news of Alara Resources Limited
8/12/2016Project Updates
Corporate news of Alara Resources Limited
8/3/2016Closure of Renounceable Rights Issue
7/15/2016Dispatch of Prospectus
7/12/2016Letter to Ineligible Shareholders
7/8/2016Prospectus - Renounceable Issue
7/8/2016Letter to Optionholders - Renounceable Issue
7/8/2016Further Information & Project Update - Al Hadeetha Project
6/13/2016Further Information - Mineralisation at Al Hadeetha Project
6/8/2016Oman Project Update
5/31/2016Project Updates
5/19/2016Khnaiguiyah Zinc-Copper Project - Legal Update
5/11/2016Oman Project Update
4/13/2016Board Appointment and Appendix 3X
4/1/2016Feasibility Study Update
1/18/2016Option Expiry
12/23/2015Potential Breakthrough on Khnaiguiyah Project
12/18/2015Project Update - Oman
12/1/2015Results of Meeting
11/24/2015Recent Developments in Saudi Arabia
11/18/2015Listing Rule Compliance
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
AU$ 0.059
08/19 15:35 -
Prev close Open
0.057 0.059
Low High
0.059 0.059
Year l/h YTD var.
0.022 -  0.082 145.83%
52 week l/h 52 week var.
0.015 -  0.082 293.33%
Volume 1 month var.
137,950 13.46%
24hGold TrendPower© : -31
Explores for
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.50+6.01%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.29+0.44%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.96-4.52%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.60+3.65%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.15+11.11%Trend Power :
Closes Bridge Loan Financing
CA$ 2.64-0.38%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.85-3.39%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.25+2.04%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.36-1.37%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.86-2.62%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 68.48+0.83%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :