Oh if only the timeline below (still posted on the AUQ website)...

Oh if only the timeline below (still posted on the AUQ website) had come to fruition.

The Definitive Feasibility Study (DFS) 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 for Q4 2015 at an average rate of 80ktpa Zinc and 5.8ktpa Copper over seven years. Capital expenditure is estimated at US$257 million with a rapid payback of 2.8 years. The preliminary outcomes of the DFS highlight Alara as an economically robust, near-term production proposition:

• Project revenue: A$2,074 million
• Project costs: A$1,201 million
• EBITDA: A$873 million
• Project free cash flow: A$467 million (after US$257 million capex paid)
• Project NPV: A$170 million at an IRR of 23%
• Weighted average cost of capital (WACC): 9.1%
• Payback: 2.8 years
• Average rate of 80ktpa Zinc and 5.8ktpa Copper (years 1-7)
• Peak production 99ktpa Zinc and 8.3ktpa Copper (year 4)
• Cash costs including TC/RC of US$0.46/lb in the first 7 years, US$0.50/lb LOM after copper credits

With the successful completion of the DFS, Alara’s has shifted from that of an explorer to that of potential producer. Alara has completed all the major milestones to achieving production and the Company is well placed to deliver production in Q4 2015.

Here is what the website currently says about out beloved JV with MANAJEM.

The Khnaiguiyah Project is operated by Khnaiguiyah Mining Company LLC (KMC); a 50:50 joint venture between Alara and United Arabian Mining Company LLC (Manajem), a privately owned Saudi Arabian mining company. Manajem is the one of the largest private holders of exploration concessions in Saudi Arabia, and has excellent contacts and experience in the country. Manajem was established in June 2004 and is comprised of a group of successful engineers and businessmen with experience in the industrial, construction and engineering fields.