South West Pinnacle Exploration Ltd has secured new work orders and Letters of Award (LOA) totaling ₹21.53 crore for exploration, drilling, and related support services. The contracts, valued including GST, encompass detailed exploration in a coal block and drilling activities in gold mining projects located in Chhattisgarh and Andhra Pradesh. The company anticipates that the majority of the revenue from these short-duration projects will be recognized within the current financial year.

The largest contract, valued at approximately ₹14.04 crore, was awarded by Central Mine Planning & Design Institute Limited (CMPDI), a wholly owned subsidiary of Coal India Limited. This LOA entails detailed exploration (G-1) in a coal block in Chhattisgarh and must be executed within 560 days. CMPDI will provide the exploration scheme and approve borehole locations, while statutory clearances in forest areas will be arranged by CMPDI.

Additionally, the company received two work orders from Geomysore Services (India) Pvt. Ltd (GSIPL). The first order, valued at ₹1.13 crore, involves Reverse Circulation (RC) drilling in a gold mining project in Andhra Pradesh. This marks a new domain of exploration for the company, which is responsible for maintaining equipment in working condition. The second order, worth ₹6.36 crore, is for diamond core mineral drilling in a gold project in Andhra Pradesh. This specific order has been awarded to M/s South West Resources Private Limited, a wholly owned subsidiary of South West Pinnacle Exploration Ltd, and requires a core recovery rate of at least 95%.

Order Details

The diamond core drilling project holds particular significance as gold exploration is rare in India, and discoveries contribute to the national goal of reducing gold imports. The work order for this project is issued in the name of the subsidiary, South West Resources Private Limited, which is responsible for safety, health, and environmental compliances as well as water transport for drilling.

South West Pinnacle Exploration Ltd. has executed a Shareholders' Agreement to formalize its 17.5% equity participation in Al Hadeetha Mining LLC, a joint venture company based in Oman. The agreement, signed on May 29, 2026, outlines the governance, funding, and operational framework for the entity, which has been allocated Block 22B by the Ministry of Energy and Minerals, Sultanate of Oman. This strategic move allows South West Pinnacle Exploration Ltd to expand its footprint in the mining sector through international collaboration.

The joint venture involves partnerships with Alara Oman Operations Pty Limited, Al Tasnim Mining LLC, and Al Hadeetha Investment Services LLC. The agreement specifies the rights and obligations of each shareholder, including capital contributions and loan provisions. It establishes a Board of Directors comprising nominee directors from each shareholder to oversee the management and operational matters of Al Hadeetha Mining LLC.

The transaction is classified as a related party transaction and has been conducted on an arm's length basis. Alara Oman Operations Pty Limited is a subsidiary of Alara Resources Ltd, an Australian listed company in which South West Pinnacle Exploration Ltd. and its promoters hold a stake. Additionally, Vikas Jain, the Chairman and Managing Director of South West Pinnacle, holds a directorship in Alara Resources Ltd.

South West Pinnacle has nominated Mr. Vikas Jain as its nominee Board Member on the Board of Al Hadeetha Mining LLC. The company noted that the agreement pertains to the governance and operational management of the joint venture and does not impact the management or control of South West Pinnacle Exploration Ltd itself. The disclosure was made to the National Stock Exchange of India and Bombay Stock Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Joint Venture

Partner Entities