Deccan Gold Mines Secures Rs. 60 Crore Investment for Key Projects

Deccan Gold Mines Limited (DGML) has secured an investment commitment of Rs. 60 crore. This investment will be used to develop two key projects: the Jonnagiri Gold Project in India and the Altyn Tor Gold Project in Kyrgyzstan. Hira Infra Tek Private Limited (Hira Group, Chhattisgarh) has committed to remit the balance consideration of Rs. 24 crore for equity warrants issued during September 2023 and opt for their conversion into equity shares. Ardent Steel Private Limited (Hira Group, Chhattisgarh) will provide an Inter-Corporate Deposit (ICD) of Rs. 25 crore to DGML. Med Edu Care Marketing Management, Dubai, and its group companies, have indicated that they will remit the balance consideration of Rs. 7 crore (approx) for equity warrants issued during September 2023 and opt for their conversion into equity shares. Additionally, these group companies will provide an ICD of Rs. 3 crore to DGML. The funding is expected to be received progressively over the next couple of months.