Australia's Alara Resources tumbles on delay of first sale from Oman project

Alara Resources

22/04/2024 05:28

** Shares of Alara Resources  AUQ.AX  fall as much as 31.3%
to A$0.055, posting their biggest intraday percentage decline
since Oct. 14, 2015
    ** Stock hits its lowest level since March 25
    ** Copper and gold explorer postpones date of sale of first
copper concentrate from its Al Wash-hi Majaza plant in Oman
    ** Says the tailing filter press has not performed to its
designed capacity, slowing the ramp-up phase of the plant
    ** About 2.8 mln shares change hands, compared with the
30-day average volume of nearly 633,000
    ** Stock up 90.5% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))