Almasar Minerals Limited (ASX: AMK) is a Perth-headquartered, Saudi-focused mineral exploration company incorporated in 2024, IPO'd on the ASX 31 Aug 2026 (A$12M raised at $0.20/share, the maximum under its offer). It holds five granted exploration licences (~419.8 km2 aggregate) in the Arabian Shield, targeting orogenic gold, VMS copper-gold and porphyry copper-gold mineralisation across a district the company frames as hosting 80+ Moz gold-equivalent and 31Mt copper-equivalent metal with limited modern exploration. Gokhan Yildiz (ex-First Quantum Minerals, ex-Teck Resources, 10+ years major-company exploration experience) was appointed Head of Exploration 15 Sep 2026.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
- Financials score of 3.5/10 is weaker than the peer average of 5.3/10.
Lifecycle Milestones
Jurisdiction (40%)5/10
Its exploration ground is in the Arabian Shield of Saudi Arabia, an emerging mining jurisdiction with strong government backing under Vision 2030 but a shorter modern permitting track record than Western jurisdictions.
Infrastructure (40%)No verified figure
Researched with nothing found: no source we could cite confirms or rules out an existing mill, road access, grid power, or tailings facility at ND28 Exploration Licence, Arabian Shield, Saudi Arabia (checked Oct 5, 2026; recheck due Apr 3, 2027). Counts at a neutral 5/10 until one does.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:5/10
Saudi Arabia: jurisdiction score 5/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Non-Executive Chairman of Almasar Minerals Limited. 20+ years' experience across exploration, project development and resource-company leadership. Previously Managing Director and CEO of Greenland Minerals Ltd (Executive Director from 2011, MD/CEO 2014-December 2021). Career began as Project Manager at Geoinformatics Exploration Inc. in 2006. Also a director of Rox Resources. Holds a PhD in economic geology from the University of Western Australia.
CEO and Managing Director of Almasar Minerals Limited. Founder and co-owner of Sprott Capital Partners / SCP Resource Finance, raising over C$5 billion in 110+ equity placings in the 5 years to 2023. Previously CEO of GMP Europe, a natural resources broker-dealer in London. Geologist by training; started with Rio Tinto exploration in Australia and worked as a gold production geologist before joining Accenture London's natural resources consulting practice. BSc (Hons) and PhD (distinction) in Economic Geology, University of Western Australia.
COO and Executive Director of Almasar Minerals Limited. Instrumental in building Almasar Minerals as a Kingdom of Saudi Arabia copper and gold exploration company.
Company Secretary of Many Peaks Minerals Limited; also Non-Executive Director and Company Secretary of Almasar Minerals Limited. Chartered Accountant with 10+ years of mining/accounting experience in ASX-listed company administration, governance and corporate finance.
President and Chief Executive Officer of Helius Minerals Limited (TSXV: HHH) and Non-Executive Director of Almasar Minerals Limited, where he was involved in the company's formation and growth as a Saudi Arabian gold-copper explorer. Exploration/resource geologist with 20+ years across South/Central America, the Caribbean, Australia, West Africa and the Middle East; BSc and PhD in Economic Geology, University of Western Australia, his doctoral research covering the Serra Pelada epigenetic Au-Pd-Pt deposit of the Carajas Mineral Province, Brazil -- the same project Helius is advancing. Worked on Continental Gold's Buriticá (acquired by Zijin) and Cordoba Minerals' San Matías district, and co-founded Collective Mining.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Almasar Minerals is a Perth-based explorer focused on Saudi Arabia, incorporated in 2024, which listed on the ASX on 31 August 2026 after raising A$12M at A$0.20 a share, the maximum under its offer. It holds five granted exploration licences covering about 419.8 km2 in the Arabian Shield, where it is targeting orogenic gold, volcanogenic massive sulphide copper-gold and porphyry copper-gold mineralisation. Gokhan Yildiz, formerly of First Quantum Minerals and Teck Resources, was appointed head of exploration on 15 September 2026. No drilling had taken place on the licences as of September 2026, and no resource has been estimated.