- Exploration company Alara Resources (AUQ) has appointed Atmavireshwar Sthapak as Managing Director, effective from July 27
- He’ll be replacing Justin Richard, who executed more than $84 million in project finance and equity investment agreements
- However, Justin will work closely with Atmavireshwar to ensure a smooth handover
- Additionally, Alara has provided an update regarding its Al Hadeetha Copper Project in Oman
- Despite reporting more 77,000 COVID-19 cases in Oman, Alara and its team remain safe and continue to implement protective measures
- Alara’s current team have already completed over 3200 metres of drilling and samples have been sent for testing and results will be reported on in due course
- After requesting a temporary pause in trading, Alara has closed with shares trading for 1.4 cents
Exploration company Alara Resources (AUQ) has appointed Atmavireshwar Sthapak as Managing Director, effective from July 27.
He will be replacing Justin Richard who executed more than $84 million in project finance and equity investment agreements, and completed a feasibility study and maiden JORC reserve for the Al Hadeetha Project in Oman.
Justin also helped Alara become the first international joint venture company to be awarded a copper mining licence in Oman.
Additionally, he will work closely with Atmavireshwar to ensure a smooth handover.
Atmavireshwar is an exploration geologist with over 25 years of global mining experience. Prior to joining Alara in 2011, he spent 10 years with mining giant Rio Tinto.
Project update
Additionally, Alara has provided an update regarding its Al Hadeetha Copper Project.
Despite reporting more 77,000 COVID-19 cases in Oman, Alara and its team remain safe and are continuing to implement protective measures.
However, travel restrictions are preventing new drilling contractors from entering the site.
Alara’s current team have already completed over 3200 metres of drilling and 19 new holes at the project. Samples have been sent for testing and results will be reported on in due course.
After requesting a temporary pause in trading, Alara has closed with shares trading for 1.4 cents in an $8.888 million market cap.