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Latest Alara News

Alara Resources : Saudi Arabia Update

Jan 17, 2022

2021 01/16/2022 | 05:35pm EST Message : Facsimile Web For personal use only 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 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

Apr 6, 2021
Terra vision

Alara Acquisitions

2 Acquisitions

Alara acquired 2 companies. Their latest acquisition was Phormax Corporation on May 14, 2002.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/14/2002

Other Venture Capital

$99M

$4.2M

Acquired

1/1/1970

Series B

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$99M

$99M

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0

Date

5/14/2002

1/1/1970

Investment Stage

Other Venture Capital

Series B

Companies

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Valuation

$99M

$99M

Total Funding

$4.2M

$99M

Note

Acquired

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Sources

0

Alara Service Providers

1 Service Provider

Alara has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Alara Team

6 Team Members

Alara has 6 team members, including current Chief Executive Officer, Steve Weiss.

Name

Work History

Title

Status

Steve Weiss

Chief Executive Officer

Current

Christopher Mitchell

Chief Security Officer

Current

Kuldip Ahluwalia

Executive Vice President

Current

Charles W Cantoni

Chief Executive Officer, President

Former

James M Walker

Chief Executive Officer, President

Former

Name

Steve Weiss

Christopher Mitchell

Kuldip Ahluwalia

Charles W Cantoni

James M Walker

Work History

Title

Chief Executive Officer

Chief Security Officer

Executive Vice President

Chief Executive Officer, President

Chief Executive Officer, President

Status

Current

Current

Current

Former

Former

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