1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Alara Resources Limited
  6. News
  7. Summary
    AUQ   AU000000AUQ7

ALARA RESOURCES LIMITED

(AUQ)
Delayed Australian Stock Exchange  -  05/23 02:10:39 am EDT
0.0660 AUD   +10.00%
05/01ALARA RESOURCES : Appointment of new Managing Director and Third Qrt Activity
PU
04/03Kingdom of Saudi Arabia Ministry of Industry and Mineral Resources Selects Alara Resources Limited to Participate in the Final Round of Process to Award an Exploration License
CI
03/16Alara Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2021
CI
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Alara Resources : Saudi Arabia Update

01/16/2022 | 05:35pm EDT

Alara Resources Limited

Telephone |

+61 8 9240 4211

A.B.N. 27 122 892 719

Facsimile

|

+968 2449 2491

Suite 1.02, 110 Erindale Road,

Web

|

www.alararesources.com

Balcatta WA 6021, Australia

Email

|

cosec@alararesources.com

PO Box 963, Balcatta WA 6914

For personal use only

ASX/MEDIA RELEASE

Monday, 17 January 2022

ALARA PRESENTS TO MINING FORUM IN RIYADH

KEY SAUDI ARABIA PROJECT AUCTION PROCESS TO COMMENCE SOON

Key Highlights

  • Alara Resources presents at the 2022 Future Minerals Forum held in Riyadh, Saudi Arabia
  • Alara's recently appointed Country Manager - KSA, Mr. Fadi Zenaty, who has 18 years' professional experience in mining and construction projects in the Middle East, represents the Company at the forum
  • The Saudi Arabian Ministry of Industry and Minerals Resources announces initial mineral licensing round for the Al Khnaiguiyah Zinc-Copper project to commence soon

Perth, Australia: Alara Resources Limited (ASX: AUQ) ("Alara" or "the Company") a base and precious metals explorer and developer with projects in Oman, is pleased to announce its participation in the 2022 Future Minerals Forum, held in Riyadh, Saudi Arabia. Key information on the future status of the Saudi Arabian Al Khnaiguiyah Zinc-Copper project was released at the Forum.

Alara presents at January 2022 Future Minerals Forum in Saudi Arabia

The Government of Saudi Arabian, which organised the January 2022 Future Minerals Forum, updated participants on recent mining industry developments in the Kingdom. It also provided the opportunity for Saudi Arabia to highlight the mineral exploration and mining investment opportunities it offers to overseas investors.

Alara was represented at the forum by its recently appointed Country Manager - KSA, Mr. Fadi Zenaty, who has 18 years' professional experience in mining and construction projects in the Middle East, including Saudi Arabia. He outlined the Company's progress in Oman and noted Alara's interest in bidding for the Saudi-based Al Khnaiguiyah project through a market mechanism in the Forum. Mr. Zenaty's presentation is attached.

Auction process for Al Khnaiguiyah Zinc-Copper project to soon start

In a development of particular interest to Alara, the Saudi Ministry of Industry and Minerals Resources (DMMR) announced at the Forum that the first mineral licensing round for the Al Khnaiguiyah Zinc-Copper project would soon get underway.

The project will be tendered as an exploration licence, covering an area of 353.8km2 which includes Alara's previous project licence area. The auction process will have three stages, starting with Registrations of Interest. This will be followed by a Qualification stage and, finally, Bidding and Grant.

Alara has registered its interest in the auction process with the DMMR. From here, the Company will await tender updates through the official channels and respond appropriately, to ensure it is in a position to make a competitive bid for the licence.

For personal use only

Mr Zenaty will lead both Alara's preparation for the Al Khnaiguiyah project bidding process and, more generally, re-establishing Alara's presence in Saudi Arabia. He comes with excellent credentials to perform this rile, having large experience in corporate operations and economic evaluation in building mineral projects from inception. Additionally, he played a key role in Alara's earlier efforts to obtain exploration and mining licenses for the Al Khnaiguiyah Zinc and Copper project and other key mining projects, and has been involved in the Saudi Arabian mining industry since 2004.

Alara Managing Director Atmavireshwar Sthapak said: "We were thrilled to be invited to present at the Saudi government-run2022 Future Minerals Forum. It provided the perfect vehicle for our Company to highlight the steady progress being made in our Oman projects. The forum was also a great opportunity to introduce Fadi, our recently appointed Country Manager-KSA,to key players in the Middle East mining sector.

Fadi's recent appointment will aid our strategic reaction to news the Saudi Ministry of Industry and Minerals Resources is soon to get cracking with the first mineral licensing round for the Al Khnaiguiyah Zinc-Copper project, which is located in the kingdom. The fact he played a key role in Alara's earlier efforts to obtain exploration and mining licenses for this project is a clear advantage for us as we strive to acquire this exciting asset."

The Al Khnaiguiyah project booth in the Future Minerals Forum

ASX Code | AUQ

For personal use only

Alara's stand at the Forum

Alara presentation at the marketplace theatre in the Future Minerals Forum

ENDS

This announcement is authorised by:

Atmavireshwar Sthapak

T | +968 2449 1162

Managing Director

E | avsthapak@alararesources.com

Dinesh Aggarwal

T | +61 8 9240 4211

Company Secretary

E | cosec@alararesources.com

Media enquiries

Julia Maguire

T | +61 2 8999 3699

The Capital Network

E | julia@thecapitalnetwork.com.au

ASX Code | AUQ

For personal use only

About Alara Resources

Alara Resources Limited (ASX: AUQ) is an Australian-based precious and base metals explorer and developer, with projects in Oman and Saudi Arabia.

Alara's active projects in Oman are the Al Wash-hi Majaza Copper-Gold mining licence and Mullaq, Al Ajal exploration licences under the Al Hadeetha JV and the Block 7 exploration licence under the Daris JV. Alara maintains an interest in the Khnaiguiyah Zinc-Copper project in Saudi Arabia, with a Feasibility Study completed and endeavours to secure a mining licence re-issue underway.

Alara is currently focused on developing the Al Wash-hi Majaza Copper-Gold project in Oman, where it is in the process of constructing copper-gold mining and processing facilities. The Company is also continuing exploration activities at its other Oman projects.

Alara's mission is to become a mid-tier minerals producer which will deliver maximum shareholder value through profitable growth driven by low-cost and sustainable operations.

To learn more, please visit: www.alararesources.com

ASX Code | AUQ

only

A New Chapter in useRich Copper Era

ersonalCompany Overview 2022

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Alara Resources Limited published this content on 16 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2022 22:34:03 UTC.


© Publicnow 2022
All news about ALARA RESOURCES LIMITED
05/01ALARA RESOURCES : Appointment of new Managing Director and Third Qrt Activity
PU
04/03Kingdom of Saudi Arabia Ministry of Industry and Mineral Resources Selects Alara Resour..
CI
03/16Alara Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2..
CI
03/07Alara Resources Advances Development of Wash-hi Majaza Project in Oman
MT
03/06ALARA RESOURCES : Mining and Procurement Progress at Wash-hi Majaza Project
PU
03/06Alara Resources Limited Announces Mining and Procurement Progress At Wash-Hi Majaza Pro..
CI
02/07Alara Resources Begins Preliminary Mining Activities at Al Wash-hi–Majaza Project..
MT
02/06ALARA RESOURCES : Initial Mining Activities Commence at Al Wash-hi Majaza Proj
PU
02/06Alara Resources Limited Announces the Commencement of Mining Activities at AL Hadeetha ..
CI
02/01Alara Resources Limited Announces Board Appointments
CI
More news
Financials
Sales 2021 0,01 M 0,01 M 0,01 M
Net income 2021 -1,62 M -1,14 M -1,14 M
Net cash 2021 4,56 M 3,20 M 3,20 M
P/E ratio 2021 -5,76x
Yield 2021 -
Capitalization 42,3 M 29,7 M 29,7 M
EV / Sales 2020 1,95x
EV / Sales 2021 451x
Nbr of Employees 7
Free-Float 33,0%
Chart ALARA RESOURCES LIMITED
Duration : Period :
Alara Resources Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Atmavireshwar Sthapak Managing Director & Executive Director
Dinesh Aggarwal Chief Financial Officer & Secretary
Stephen Gethin Independent Non-Executive Chairman
Fadi Zenaty Operations Manager
Rexin Kamilas Manager-Finance & Administrative
Sector and Competitors
1st jan.Capi. (M$)
ALARA RESOURCES LIMITED150.00%30
BHP GROUP LIMITED13.69%167 792
RIO TINTO PLC11.39%113 026
GLENCORE PLC32.64%80 919
ANGLO AMERICAN PLC16.83%53 326
GRUPO MÉXICO, S.A.B. DE C.V.14.72%40 129