And for those who didn't realise... the alara research section also contains the Petra Capital report....
AUQ has successfully negotiated an increase in ownership of the Khnaiguiyah zinc-copper project from 50% to 60%. This is an important milestone and enables AUQ to lead the project into development and production. Key terms are (i) the issue of 67M shares to JV partner Manajem and (ii) staged milestone payments of US$8.35M. Legal paperwork is expected to be completed shortly and incorporated into an amended shareholder’s agreement (SHA). Incorporating the transaction into our model sees NPV reduce slightly to A$0.53/share ($0.55). However, significant upside at Khnaiguiyah exists via identified capex/opex savings and heavy media separation (HMS). We maintain our BUY recommendation...."
AUQ Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
