Alara Resources (ASX: AUQ) has been placed in pre open this morning after the ASX granted the company a trading halt pending an announcement in relation to the 50% owned Khnaiguiyah Zinc-Copper Project in Saudi Arabia.
Alara has not yet elaborated any further on the announcement, but the project is certainly an interesting one and already hosts a JORC Resource of 26.4 million tonnes at 3.9% zinc and 0.12% copper, along with 7 million tonnes at 0.8% copper.
This Resource could underpin a 1 to 1.5 million tonne per annum throughput zinc and copper mine for at least 10 years. A Definitive Feasibility Study is forecast to be delivered to the market soon.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 31 July.
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