Sobhagya Mercantile Ltd — Important, 17-11-2025: Company Update

Sobhagya Mercantile Limited, as the lead member of SML CALIBER SPV, has received a Letter of Intent from Assam Mineral Development Corporation Ltd. This designates them as the Mine Developer and Operator (MDO) for the Vadakhol Asoli Ni, Cr, Co & other Associated Mineral Block in Maharashtra. The extensive work involves obtaining licenses, prospecting, securing approvals, land acquisition, drilling, excavation, transportation, and selling minerals on a revenue-sharing basis. This signals a major new business opportunity. The SPV has submitted a performance security of 1.50 Cr, with a detailed contract agreement to follow after further exploration.