Acquisition of 51 % Stake in Logrosan Minera S.L Spain.
DECNGOLD · price
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Deccan Gold Mines has signed a definitive agreement to acquire a 51% stake in Spain-based Logrosan Minera S.L. for Euro 1.76 million in cash, payable through itself or its wholly-owned subsidiary DGFZCO. Logrosan holds two granted exploration licenses (Antonio and Mari) covering 7,732 hectares for tungsten, tin, rare earth elements (REE), and gold, and has applied for a third license (Logrosan North) covering 3,072 hectares for gold. Current drilling has already intersected tungsten (scheelite) mineralisation. The deal is expected to close progressively by March 2027, subject to regulatory approvals in India, Dubai, Spain, and the UK. Deccan Gold also has an option to increase its stake to 75% by paying an additional Euro 1 million tied to milestones and independent valuation. The target has zero revenue and negative net worth, making this a greenfield exploration bet in the critical minerals space.
This is a strategic overseas push into critical and future-facing minerals (tungsten, REE, gold), giving Deccan Gold a foothold in a highly mineralised region of Spain. For shareholders, it signals international diversification and exposure to high-demand commodities, but the target is pre-revenue with negative net worth, so value creation will depend entirely on exploration success over the medium to long term. Deal size is relatively modest, limiting near-term financial risk.