Copper Slump, page-16

I believe the company has stated on several occasions that there were several financial suitors - specifically that multiple lenders / financiers had either approached the company or were in discussions with the company. It is of course your prerogative to accept or reject such representations made by the company (see below).

I can't advise you on how to make a better than under-the-mattress type return, however I've traded AUQ several times in the last 12 months with positive (chump change) returns. Looking at the 4-yr chart, 2018 & 2019 has brought consistently higher average prices and is one of the reason I haven't sold out my remaining parcel.

Any positive announcement regarding Al Hadeetha finance, Engineering progress, and possibly additional developments related to non Al Hadeetha projects in addition to the recovery of copper - might see a bit more interest emerge.

It's not a great feeling sitting on a negative position or stagnant capital, but unless you've been caught by 2014 highs I'd be confident that there will be opportunities to exit at break even or better in the next 2 weeks (as there has been on several different occasions since late 2017). But it's all a pure guess on my part - so best of luck either way.

Here's some extracts from prior announcements that provide me with confidence that it is not a make-or-break deal with SAMA:

The September '18 Qtrly:
"On the back of proposed financing terms, financing applications progressed during the period and are advancing toward the final approval stage. Based on feedback received there is solid interest from a number of banks. The Company is working with these banks and other financiers to endeavour to agree on loan covenants acceptable to all parties. In regard to security, certain equipment suppliers have also indicated a willingness to provide third party guarantees, subject to specified equipment being used.The Company is now looking to issue a limited notice to proceed with detailed engineering,prior to bank finance being finalised and a final contract award being issued."

The 19th December '18 (AL Tasnim investment):
"...Alara intends to apply proceeds from the sale, along with other debt finance, to complete the project’s capital requirements (4). As previously reported, Alara had been in discussions with potential equity partners and continues to assess opportunities where prospective parties (5)

Footnotes:
(4) Final finance approval for the remaining project capex is expected to follow soon. Alara Oman will use the proceeds of the share sale to increase its loan to Al Hadeetha from ~ AU$7m (see page 42 on the 2018 Annual Report) to AU$17.7m, save that no interest shall accrue on the additional loan amount. In consequence, Alara Oman’s joint venture partner has agreed to provide security (if required) for the Al Hadeetha project finance on arm’s length terms. Al Hadeetha will use the additional loan funds to press forward with mine infrastructure development toward production of copper concentrate.

(5) Another party completed due diligence on Block 7 earlier this month with positive results. "

Project update from 31 August '18:
"The Company is actively working with financiers to finalise project finance and approval procedures are progressing steadily. Due diligence has been completed by one bank withanother lender following closely. Financing provisions are expected to remain in line with indicative terms received previously. The extra time has also created space to engage with other lenders who approached the Company after the issuance of the Washihi mining licence was announced."