Press Release on Deccan Gold Signs Definitive Earn-In Agreement for Strategic Spanish Tungsten Project Amid Global Critical Minerals Race.
DECNGOLD · price
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Deccan Gold Mines has signed a definitive Earn-In, Option and Shareholders Agreement for the Logrosan Tungsten Project in Spain, with a commitment to invest EUR 1.76 million to progressively earn a 51% stake by March 2027. The company also has the option to increase its ownership to 75% and potentially up to 95% over time through further funding and dilution provisions. Beyond tungsten, the district-scale project also offers exposure to gold, tin, rare earth elements, niobium, and tantalum. Early drilling at the Dehesa target returned promising tungsten intersections, including 3m at 0.42% WO₃ and 9m at 0.32% WO₃, with ongoing drilling aimed at expanding the mineralised zones. This move builds on the company's December 2025 strategic entry into Logrosan and aligns with global efforts to diversify supply away from China's dominance in critical minerals like tungsten, which are essential for defence, aerospace, and semiconductors.
The agreement diversifies Deccan Gold beyond gold into strategically important critical minerals, potentially enhancing long-term valuation given rising global focus on resource security. However, the project is still in early exploration stage, so near-term impact on stock price is likely to depend on upcoming drilling results.