Investment4 Jul 2025, 11:17 am
Lloyds Enterprises to Acquire 31.58% Stake in Geomysore Services India for INR 140 Crore
AI Summary
Lloyds Enterprises Limited has entered into a definitive agreement to acquire a 31.58% stake in Geomysore Services India Pvt Ltd through an investment of INR 140 crore for a 50% partnership interest in Prakar Estate and Promoter LLP, which holds a majority stake of 63.17% in GMSI. The Jonnagiri gold project, owned and operated by GMSI, is in advanced stages of commissioning and is expected to commence commercial production within the current quarter.
Key Highlights
- GMSI holds the mining lease for the Jonnagiri Gold Project with a fully permitted processing capacity of 1,000 tonnes per day.
- The project has received all major statutory approvals including Environmental Clearance and Consent to Operate, with the EC valid up to 2043.
- The project currently has established JORC-certified gold resources of ~13.1 tonnes, with an estimated upside potential of up to 42.5 tonnes based on feasibility reports and ongoing exploration.
- Geomysore enjoys a cost advantage compared to gold imports due to exemption in import duties.
- The project is in advanced stages of commissioning and is expected to commence commercial production within the current quarter.