South West Pinnacle Exploration Ltd's JV awarded exploration and mining contract in Oman

South West Pinnacle Exploration Ltd. through its' Joint Venture Company namely M/s Alara Resources LLC (ARL) Oman, has been awarded an exploration & Mining contract for exploration and mining of Minerals viz; Copper, Gold, & Chromite in concession area 12 B and 13 in Oman by Minerals Development Oman(MDO). The contract is to be executed over a period of two years approx.

Minerals Development Oman, is the product of a strategic partnership between Oman Investment Authority and Oman National Investments Development Company(TANMIA) with the principal mandate to drive the monetization of Oman's mineral resources. The total value of contract is OMR~13,56,000 (INR 30 Crores approx.).

Shares of South West Pinnacle Exploration Limited was last trading in BSE at Rs. 155.75 as compared to the previous close of Rs. 148.50. The total number of shares traded during the day was 4099 in over 48 trades.

The stock hit an intraday high of Rs. 155.90 and intraday low of 153.00. The net turnover during the day was Rs. 634889.00.

Source : Equity Bulls

Keywords

SouthWestPinnacleExploration INE980Y01015 JV AlaraResourcesLLC Exploration Mining Contract Oman