Australia's Alara Resources rises on JV deal with Oman-based firm

Alara Resources

04/07/2022 03:47

** Shares of copper-gold miner Alara Resources  AUQ.AX 
climb as much as 42.2% to A$0.064
    ** Stock on track for best session since Feb. 7, if gains
hold
    ** Co forms a joint venture with Oman-based Al Tasnim
Enterprises LLC to lodge a bid for the award of an exploration
license that includes a part of co's former Khnaiguiyah
zinc-copper project in Saudi Arabia 
    ** Co has a 51% interest in the joint venture
    ** The award of the license is expected to be announced in
mid-August  
    ** Stock up for third straight day; hits highest level since
June 7
    ** As of last close, AUQ had risen ~87.5% so far this year
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))