as mentioned, government owned Oman Mining Company is looking for someone with expertise and a record of successfully delivering a feasibility study for Yanqul.
At 15Mt @ 1.2% Cu & 1.0g/t Au, it is one of the biggest and best deposits that anyone is likely to get their hands on any time soon in Oman.
OMC have an existing MOU with Mawarid (who Alara also have an MOU with) and government owned Oman Oil Company. OOC have offered to invest a 41% equity stake in the project if someone does a feasibility study. Of their share, Mawarid will own 49%.
Oman Oil Company have a subsidiary called Takamul Investment.
Takamul manage an investment portfolio for OOC which includes a 25% stake in the newly formed MDO (which Alara also has an MOU with to help it find new projects).
Next week Alara will ask it's investors for an additional 10% placement facility to invest in a new project, and a $2m placement facility for, purportedly, a new investor unrelated to the company.
Interesting times
AUQ Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
