Listed on ASX Limited on 24 May 2007.
Base metals exploration, development and production
Khnaiguiyah Zinc-Copper Project (50%), Saudi Arabia
Washihi Copper-Gold Project (70%), Oman
Daris Copper-Gold Project (50%, with right to 70%), Oman.
506 million ordinary shares and 248 million options.
Alara Resources is an advanced base metals exploration and development company with an attractive portfolio of mineral projects in Saudi Arabia and Oman.
The Company is advancing towards production at its flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia. The Definitive Feasibility Study for Khnaiguiyah was completed in April 2013 and confirmed a technically and financially robust project with a mine life of 13 years at 2Mtpa. First production is targeted at an average rate of 80ktpa Zinc and 5.8ktpa Copper over seven years.
Capex is estimated at US$257m with a rapid payback of 2.8 years. The total project area covers 380km² and comprises the Khnaiguiyah Mining Licence, two exploration licences and five exploration license applications, which are pending grant. The project contains Proved and Probable JORC Reserves of 26.1Mt at 3.3% Zn and 0.24% Cu.
There is strong potential to expand these reserves with further drilling along strike and at depth. The Khnaiguiyah Mining Licence was issued in December 2010 and has a 30 year exclusive term and no mineral royalties payable. Alara has a 50% interest in the Project with strategic partner United Arabian Mining Company (Manajem).