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Almasane Alkobra Mining Co. Announces an update on With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 09/03/2025 AD regarding the signing of a Letter of Intent with Power Metal Resources Plc
| Element List | Explanation |
|---|---|
| Previous Announcement | With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 09/03/2025 AD regarding the signing of a Letter of Intent with Power Metal Resources Plc |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-03-09 Corresponding to 1446-09-09 |
| 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 March 9, 2025, regarding the signing of a Letter of Intent with Power Metal Resources to formalize an agreement for the exploration, development, and extraction of nickel and associated minerals under AMAK’s Qatan exploration license in the southwest region of the Kingdom of Saudi Arabia. Almasane Alkobra Mining Company (AMAK) announces the decision by both parties to terminate the agreement contemplated under the Letter of Intent as of June 11, 2025, and not to proceed with signing the binding agreement due to the parties inability to reach mutually acceptable terms. The Company affirms its continued readiness to explore future partnership opportunities that contribute to supporting its growth and strategic plans. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | 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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