PERTH: Alara Resources Limited (ASX: AUQ) (Alara or Company) advises that, further to its ASX announcement regarding the Investment Agreement dated 15 March 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. (based on the EUR 60m, repayable, non-convertible Investment Amount) 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.
Alara will update the market with further developments as they occur.
AUQ Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
