Joint Venture29 May 2026, 09:34 pm
South West Pinnacle Enters Oman JV with 17.5% Stake
AI Summary
South West Pinnacle Exploration Ltd has executed a Shareholders’ Agreement on May 29, 2026, for its JV Company, Al Hadeetha Mining LLC in Oman, holding a 17.5% equity stake. The agreement with Alara Oman Operations Pty Limited, Al Tasnim Mining LLC, and Al Hadeetha Investment Services LLC governs rights, obligations, management, and funding for mining activities in Block 22B, Oman. Alara is related to SWPE, with Vikas Jain, CMD of SWPE, holding directorship in Alara Resources Ltd (AUQ).
Key Highlights
- South West Pinnacle has a 17.5% stake in Al Hadeetha Mining LLC (AHML) in Oman.
- The agreement defines shareholder rights, obligations, and management of AHML.
- Vikas Jain, CMD of SWPE, is a nominee Board Member on the Board of AHML.
- Alara is related to SWPE, with overlapping stakeholding and directorship.
- The transaction is conducted on an arm’s length basis.
Price Impact
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