Proposal to invest in a Tungsten Project located in Spain
DECNGOLD · price
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Deccan Gold Mines has announced a proposal to invest in the Logrosan Tungsten Project in Spain, with the ability to take up to 75% stake prior to production. The project is an early-stage exploration asset in a region known for tungsten, tin, rare earth elements, and gold. Initial drilling has shown promising tungsten intersections of 3m @ 0.42% WO₃ and 8m @ 0.32% WO₃, along with a high-grade gold hit of 1m @ 96.2 g/t. The company expects to convert the discovered mineralisation into Mineral Resources within 1-2 years. Tungsten is classified as a critical mineral globally, with China supplying over 80% of world output, making non-China sources strategically valuable.
This represents Deccan Gold's strategic expansion beyond gold into critical minerals, giving it exposure to a high-demand, supply-constrained commodity (tungsten) while leveraging its existing exploration expertise. For shareholders, it opens a new growth avenue but carries early-stage project risk; near-term stock reaction may depend on deal terms and traction with broader India's critical minerals push.