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Almasane Alkobra Mining Co. Announces an update on With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 13/Nov/2023 AD regarding the signing of a letter of intent with Esan Eczacibasi (ESAN),and the Arab Mining Company (ARMICO) -FUJAIRAH.
| Element List | Explanation |
|---|---|
| Previous Announcement | With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 13/Nov/2023 AD regarding the signing of a letter of intent with Esan Eczacibasi (ESAN),and the Arab Mining Company (ARMICO) -FUJAIRAH. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-11-13 Corresponding to 1445-04-29 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 13/Nov/2023 AD regarding the signing of a letter of intent with Esan Eczacibasi (ESAN),and the Arab Mining Company (ARMICO) -FUJAIRAH. to establish a closed joint-stock company with an initial capital of one million Saudi Riyals, to invest in industrial minerals and related industries in the Kingdom of Saudi Arabia, including but not limited to quartz, feldspar, silica sands, The purpose of establishing the company was to collaborate in the field of industrial minerals and related industries in the Kingdom of Saudi Arabia. Almasane Alkobra Mining Company (AMAK) announces the Board of Directors’ decision on 22/01/1446 AH corresponding to 28/07/2024 AD to terminate the work on the letter of intent as of 28/07/2024 AD and not to sign the final agreement. Due to the refusal of AMAK to agree to the partnership terms Furthermore, the company has decided to fully exploit these resources for its own benefit, should they be proven to exist in commercial quantities, following the necessary exploration activities. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 69.5
Net Change 0.6 (+0.87%)
Value Traded (Sar) 30,677,576
Volume Traded 443,348
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