Ann: Al Washihi Majaza Project Construction Update, page-17

These finance deals were announced to the market back in March 2020, and if I'm not mistaken it's the second lot of funding deals that were signed, sealed, delivered and announced. The first financier obviously got sick of waiting. So not sure how the current board get credit for organising the finance, nor how that is an excuse for 18 months of inaction. Money was there, just nothing to spend it on.

Anyway, after years of watching these guys waste time we finally seem to have some action. Long may it continue. I will say the current board have made better progress than the last clown show.

From first paragraph of Chairman's report in the 2018 Annual report

In FY2018 Alara achieved a major
milestone with the grant of the mining
license for its Al Hadeetha Copper-Gold
Project in Oman. The focus is now on
mining infrastructure development,
with first copper production expected
for at the end of 2019.