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DECNGOLD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Deccan Gold Mines has signed a definitive Earn-In and Shareholders Agreement to acquire an initial 51% stake in Logrosan Minera S.L. (LMSL) in Spain, which holds tungsten, tin, gold and rare earth mineral assets. The 51% stake will come through a EUR 1.76 million earn-in investment, expected to be completed by March 2027. The company also has the option to raise its stake to 75% for an additional EUR 1 million, and potentially up to 95% if the existing UK partner Logrosan Minerals Limited does not contribute pro-rata funding (with a 5% minimum for LMLUK). Drilling at the Dehesa zone has already intersected tungsten mineralisation, with a follow-up programme currently underway. The deal is subject to regulatory approvals in India, Spain and the UK.
This expands Deccan Gold's portfolio into a critical mineral (tungsten) outside India, diversifies beyond gold, and gives it a pathway to operational control of a potentially significant asset. Tungsten demand from defence and semiconductors plus EU critical minerals support could be positive long-term, though near-term impact is limited as the investment is staged over 2027 and the project is still in exploration stage.