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ALARA RESOURCES LIMITED (AUQ)

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Our website ranking of AUQ: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Advanced Share Registry Services
110 Stirling Hwy, Nedlands WA 6009
Tel : +61 8 9389 8033
Fax : +61 8 9262 3723
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000AUQ7
Address: Suite 1.02, 110 Erindale Road Balcatta, Western Australia 6021 AUSTRALIA
Tel:  +61 8 9240 4211Fax: +61 8 9463 6103

Date first listed: 24/05/2007
Company Secretary: Dinesh Agarwal
Sector: Materials Industry Group: XMJ
Activities: Exploration for uranium

News & Events

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The suspension of trading in the securities of Alara Resources Limited will be lifted from the commencement of trading today, Tuesday, 2 May 2023 following lodgement of its quarterly activities and cash flow report (Appendix 5B), and financing update announcement.

02/05/2023

Al Hadeetha Resources LLC the JV developing the Al Wash-hi Majaza CopperGold has secured an additional ~USD15 million loan finance from existing lender Sohar Bank International, an amount previously intended to be raised via an offtake prepayment facility. The new finance will fund both the acquisition of Project-related consumables and other working capital requirements ahead of mine output revenue generation. Civil construction at the Project's 1MTPA1 copper processing plant is approximately three quarters complete, while mechanical, electrical, and plumbing works have made substantial progress. All construction works related to 33KV Substation works are complete. Internal testing is ongoing before final testing by MAZOON Electricity Co. for approval to energize. The Project continues to maintain an excellent work-place safety record, with a total of 883,530 person-hours worked free of lost time injury. The Project cold and hot commissioning phase is expected to commence from August 2023. The projected commercial production commencement date is 27 September 2023.

02/05/2023

The securities of the entity will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Monday, 1 May 2023, for not lodging the relevant periodic report by the due date. If the report is lodged between the closure of the market announcements office on Friday, 28 April 2023, and the imposition of the suspension, the entity's securities will normally be reinstated to quotation on the next trading day after the suspension is imposed.

01/05/2023

The company lodges its Quarterly Activities and Cashflow Report.

01/05/2023

The suspension of trading in the securities of Alara Resources Limited will be lifted immediately, following the release by AUQ of an announcement containing additional details relating to the project financial forecast in the Company's announcement dated 29 March 2021.

07/04/2021

On 29 March 2021, Alara announced that increased copper prices had resulted in an increase to forecast Project financial returns under various copper price scenarios. The Wash-hi Majaza feasibility study concluded that the Project is a technically feasible and financially robust mining operation. The process plant is designed to process 1 million tonnes of mineralised material per annum. Project life is anticipated to be 10.3 years. The variable parameter used in each case is the copper price. The gold price is assumed as $1,700/oz (real) for all three cases. Funds required to meet the capital expenditures will be sourced from a mix of bank finance, a prepayment from an offtake provider and contributions from shareholders in the joint venture vehicle in which the Project is held. The Al Hadeetha Wash-hi Majaza Copper-Gold Project is located approximately 120km south-west of the capital city Muscat, in the Sultanate of Oman.

07/04/2021

The securities of Alara Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AUQ, pending the release of an announcement containing additional details relating to the project financial forecast in the Company's announcement dated 29 March 2021.

01/04/2021

The suspension of trading in the securities of Alara Resources Limited will be lifted immediately, following the release by AUQ of an announcement regarding project finance developments.

29/04/2019

Counterparty SAMA Global has expressed interest in taking an equity stake in Al Hadeetha Resources LLC. Terms of the new deal are still being discussed, but are expected to include replacing the 1.5% p.a. fee with a fee of 3 - 5% p.a. plus, as a separate but linked transaction, the sale of between a 5 to 15% interest in the Al Hadeetha Copper Project, for an amount to be agreed. Other terms are expected to remain the same as previously announced.

29/04/2019

The securities of Alara Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AUQ, pending the release of an announcement regarding project finance developments.

26/04/2019

The suspension of trading in the securities of Alara Resources Limited will be lifted from the commencement of trading on Wednesday, 10 October 2018, following the release by AUQ of a clarifying announcement regarding an offer to purchase Alara Saudi Operations Pty Ltd.

10/10/2018

Since the judgment of the Saudi court was issued, the company has met with Saudi government officials to discuss the pathway forward for the Khnaiguiyah Project, and further meetings are being planned for later this month. Although developments in Saudi Arabia are welcome news, the Company's focus remains firmly on the Al Hadeetha Copper Project and Alara's other JV copper projects in Oman. This is not expected to change unless and until a new mining licence is granted for the Khnaiguiyah Project.

10/10/2018

The securities of Alara Resources Limited will be suspended from quotation immediately, in accordance with Listing Rule 17.3. The securities will remain suspended pending an announcement by the Company clarifying the counterparty and material terms of the offer to purchase Alara Saudi Operations Pty Ltd as disclosed in the Company's announcement released on 3 October 2018.

04/10/2018

securities suspended from quotation pending lodgement of the company's half year accounts

16/03/2009

securities to be reinstated tomorrow following lodgement of the company's half year accounts

16/03/2009

name changed from Alara Uranium Limited

02/10/2008

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    08/08/2023Farrokh Masani248,500$0.040$9,936
    07/10/2022Farrokh Masani253,500$0.040$10,140
    22/02/2021910,600$0.015$13,659
    28/03/2019Vikas Jain3,460,700$0.029$98,959
    27/11/2018593,387$0.024$14,253

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Stephen GethinNon Exec Chairman01/05/2018
    Atmavireshwar SthapakManaging Director22/09/2015
    John WatkinsCFO02/05/2014
    Dinesh AggarwalCFO01/05/2018
    Sanjeev KumarNon Exec Director23/10/2020
    Vikas JainNon Exec Director06/04/2016
    Devaki KhimjiNon Exec Director02/02/2022
    Farrokh MasaniAlternate Director02/02/2022

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Avi SthapakNon Exec Director09/01/201901/12/2020
    James PhippsNon Exec Chairman29/10/201304/09/2020
    Justin RichardManaging Director, CEO16/06/201528/07/2020
    Ian GregoryAlternate Director22/06/201530/04/2018
    Hem MadanNon Exec Director18/05/200702/04/2016
    Ian WilliamsNon Exec Chairman30/11/201031/07/2015
    John HopkinsNon Exec Director16/10/201312/06/2015
    Philip HopkinsManaging Director, CEO02/05/201319/05/2015
    Abdullah bin Mosaad bin Abdulaziz Al SaudNon Exec Director29/10/201305/11/2014
    Julian TambyrajahCFO12/11/201302/05/2014
    William JohnsonGeneral Manager26/10/200930/09/2013
    Douglas StewartNon Exec Director30/11/201031/08/2013
    Farooq KhanNon Exec Director, General Manager18/05/200731/08/2012
    John StephensonNon Exec Chairman18/05/200719/02/2010

    Date of first appointment, title may have changed.