Australia's Alara Resources rises on loan finance for Oman project

Alara Resources

02/05/2023 05:51

** Shares of Alara Resources  AUQ.AX  rise as much as 12.9%
to A$0.035
    ** Stock set for best session since Feb. 21, if gains hold
    ** Co says a JV developing the Al Wash-hi Majaza Copper-Gold
project in Oman has obtained an additional ~$15 mln loan finance
    ** Says the finance will fund the acquisition of
project-related consumables and other working capital
requirements
    ** Adds commercial production is expected to commence on
Sept. 27
    ** As of last close, AUQ down ~11.4% so far this year

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