Deccan Gold Mines Ltd Share Price – BSE

Mining & Mineral products, Small Cap

Deccan Gold Mines announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 7 August 2024 .

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Deccan Gold Mines (DGML) has secured investment commitment of Rs. 60 crore as under to cater to the development of its key Projects viz., Jonnagiri Gold Project, India and Altyn Tor Gold Project, Kyrgyzstan:

- Hira Infra Tek (Hira Group, Chhattisgarh) has intimated that it will remit the balance consideration of Rs. 24 crore in respect of the equity warrants issued to them during September, 2023 and opt for their conversion into equity shares.

- Ardent Steel (Hira Group, Chhattisgarh) will provide an Inter-Corporate Deposit (ICD) of Rs. 25 crore to DGML. Necessary documentation in this regard has been initiated and the process shall be completed shortly.

- Med Edu Care Marketing Management, Dubai has indicated that it will remit the balance consideration of Rs. 7 crore (approx) in respect of the equity warrants issued to them during September, 2023 and opt for their conversion into equity shares. Further, their group companies will provide ICD of Rs. 3 crore to DGML.

The funding as noted above is expected to be received progressively over the next couple of months.

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The Board of Deccan Gold Mines on 30 May 2024 has approved:

a. allotment of 92,764 fully paid-up Compulsorily Convertible Debentures (CCDs) each at an issue price of Rs. 116.20 per CCD with CCDs convertible into equivalent number of equity shares on preferential basis through private placement for cash consideration;

b. allotment of 26,514 fully paid-up equity shares having face value of Re.1/- (Rupee One only) each at an Issue Price of Rs. 116.20per equity share on a preferential basis through private placement for cash consideration.

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Net Loss of Deccan Gold Mines reported to Rs 68.07 crore in the quarter ended March 2024 as against net loss of Rs 0.95 crore during the previous quarter ended March 2023. Sales reported to Rs 3.36 crore in the quarter ended March 2024. There were no Sales reported during the previous quarter ended March 2023.

For the full year,net loss reported to Rs 64.46 crore in the year ended March 2024 as against net loss of Rs 2.81 crore during the previous year ended March 2023. Sales rose 939.39% to Rs 3.43 crore in the year ended March 2024 as against Rs 0.33 crore during the previous year ended March 2023.

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