Deccan Gold Mines Ltd. (India)

Deccan Gold Mines Ltd. (DGML) is a gold exploration company based in Mumbai, India. It was established in 2003 by promoters with a background in the exploration and mining sector. DGML has been involved in gold exploration activities in India and overseas for many years. Their exploration efforts in the state of Karnataka have led to the discovery of open pit gold deposits in the Archaean greenstone belts of Dharwar Craton, specifically in Hutti and Dharwar-Shimoga belts. DGML has also conducted a JORC-compliant feasibility study on the Ganajur gold deposit in Karnataka. In 2021, DGML began expanding and diversifying its operations through mergers and acquisitions. They acquired a significant stake (40%) in Geomysore Services (India) Private Limited, which is developing the first private sector gold mine in India since Independence, called Jonnagiri. This mine is located in Andhra Pradesh and is expected to achieve full-scale commercial production in the second half of 2024. DGML is also acquiring a significant stake (60%) in the Altyn Tor Gold Mine in Kyrgyzstan and a stake (32%, with an option to increase to 51%) in the Kelavala Gold Project in Finland. The Altyn Tor gold project is projected to reach full-scale production in the fourth quarter of 2024. Additionally, DGML has won the Bhalukona-Jamnidih Block through auction, which is a high-potential area for Ni-Cu-Cr-PGE mineralization located in Chharrisgarh. This acquisition is part of DGML's diversification into battery and multimetal deposits. DGML also owns exploration licenses in Tanzania through its subsidiary, which are situated near large operating gold mines. With a diverse portfolio of assets ranging from near-producing to long-term potential gold and multimetal deposits, DGML aims to become an Indian-owned global mining entity in the long term. The company is committed to delivering significant value to its shareholders, with two commercially operating gold mines expected in 2024. DGML has a dedicated and focused management team with strong shareholder support. DGML is playing a leading role in the revival of the mineral exploration and mining sector in India, which is being driven by foreign and Indian private investment and the introduction of liberalized internationally compatible mining policies. The company holds some of the best gold prospects in the country, geologically similar to areas that have seen major gold discoveries worldwide. The corporate office of Deccan Gold Mines Ltd. is located in Bangalore, India. They can be contacted at +91 80 45384000 or via email at info@deccangoldmines.com for investor complaints.