South West Pinnacle Exploration Wins ₹21.53 Cr Orders

A. Contract from Central Mine Planning & Design Institute Limited (CMPDI)

Client: Central Mine Planning & Design Institute Limited (wholly owned subsidiary of Coal India Limited)
Nature: Detailed Exploration (G-1) in a Coal Block in Chhattisgarh
Value: ₹14.04 Crores (including GST)
Execution Timeline: 560 days
Relationship: Not a related party transaction; promoter/promoter group/group companies have no interest in CMPDI

B. Contracts from Geomysore Services (India) Pvt. Ltd (GSIPL)

I. Reverse Circulation Drilling Contract

Client: Geomysore Services (India) Pvt. Ltd (new client for SWPE)
Nature: Reverse Circulation drilling in Gold mining project in Andhra Pradesh
Significance: RC drilling is a new domain with limited operators; GSIPL has history of gold and precious metal discoveries
Value: ₹1.13 Crores (including GST)
Execution Timeline: Short duration project (specific timeline not mentioned)
Key Terms: Borewell depth 10-50 meters; SWPE responsible for equipment maintenance
Relationship: Not a related party transaction

II. Diamond Core Drilling Contract

Entity: Awarded to wholly owned subsidiary M/s South West Resources Private Limited
Client: Geomysore Services (India) Pvt. Ltd
Nature: Diamond core mineral drilling in Gold Project in Andhra Pradesh
Value: ₹6.36 Crores (including GST)
Execution Timeline: Approximately 210 days
Strategic Significance: Gold exploration is rare in India; aligns with national 'Atma Nirbhar Bharat' goal to reduce gold imports
Revenue Recognition: Most revenue expected in current financial year due to short duration
Key Terms: Core recovery should be more than 95%; subsidiary responsible for safety, health, environment compliances and water transportation costs
Relationship: Not a related party transaction