South West Pinnacle Exploration Limited has informed the Exchange about Agreements
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South West Pinnacle Exploration Limited has executed a Shareholders' Agreement dated May 29, 2026, with three partners (Alara Oman Operations, Al Tasnim Mining, and Al Hadeetha Investment Services) for its joint venture company Al Hadeetha Mining LLC in Oman. The company holds 17.5% equity in the JV, which has been allocated Block 22B in Oman for mining and related activities. The agreement provides special rights including the right to appoint directors and first right to share subscription. The transaction involves a related party (Alara, a subsidiary of Australian-listed Alara Resources Ltd where SWPE and its promoters hold stake), though it is stated to be on an arm's length basis.
The JV agreement strengthens the company's international mining presence in Oman. The 17.5% stake and governance rights provide exposure to potential mining revenues, though the agreement explicitly states it does not impact management or control of South West Pinnacle Exploration Limited.