Key Highlights
- Almasar Minerals (ASX:AMK) shares finished the 6 November 2026 session at $0.21, up 10.53%.
- The company holds five granted exploration licences covering about 420 square kilometres, prospective for gold and copper.
- Cash was A$10.2 million at 30 September 2026, following admission to the ASX Official List on 31 August 2026.
During the Trading session on 6 November 2026, Almasar Minerals Limited (ASX:AMK) shares finished at $0.21, up 10.53%, while the S&P/ASX 200 fell 0.49% to 9,020.80. Almasar is an exploration company holding licences in the Arabian Peninsula, with a central Facility in Jeddah. Its most recent update is its quarterly activities report for the period ending 30 September 2026, released on 27 October 2026.
Latest Development: Quarterly Report (27 October 2026)
Almasar reported that it holds five granted exploration licences covering about 420 square kilometres, prospective for gold and copper. These are the southern ND28, ND31 and ND36 licence cluster, the separate ND41 licence and the northern licence NS142. Initial geological mapping was completed ahead of the IPO, and the team has been ranking areas of interest.
The southern cluster hosts several target areas prospective for orogenic gold, led by Wadi Halibi, which lies along strike from active artisanal workings. Four areas have been prioritised for ground geophysics in the fourth quarter of calendar 2026, followed by auger sampling beneath shallow cover.
Latest Development: Operations and Team
Almasar said it leased a new central facility in Jeddah and continued to Import exploration equipment. It appointed a new Head of Exploration along with senior and junior geologists. The company said it had cash of A$10.2 million at quarter end.
About the Company
Almasar is an exploration company focused on gold and copper targets within its licence portfolio. Its work is designed to rank and test prospective areas through geophysics, sampling and drilling before any resource work begins.
Sector Context
Exploration in the Arabian Peninsula is attracting interest as governments seek to develop mineral sectors, and orogenic gold systems are a common target. Early-stage explorers rely on Geophysical surveys and soil or auger sampling to define drill targets, which can take several months.
Risks to Watch
Results from geophysics and sampling are not yet available, and the company may not identify drill-ready targets. Exploration spending will reduce cash over time, and further Capital may be required. Operating in a new Jurisdiction also brings permitting, logistics and currency considerations.
Catalysts on Watch
Investors will be watching for the results of ground geophysics in the fourth quarter, the progress of auger sampling and the next quarterly report, which will show spending and the status of the licence portfolio.





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