Godawari Power & Ispat Limited has extended a debt funding of ₹40 crore to Deccan Gold Mines Limited to finance the development of the Altyn Tor Gold Project in the Kyrgyz Republic. The loan agreement was executed on June 05, 2026, with an interest rate of 12% per annum on a quarterly compounding basis. The funds will support the project undertaken by Avelum Partner LLC, a subsidiary of Deccan Gold Mines Limited, and will also be used for general administrative purposes and working capital.

The transaction is secured by a pledge of 5,00,000 equity shares held by Deccan Gold Mines Limited in Geomysore Services (India) Private Limited. The tenure of the loan is set at 12 months, with interest payments due not later than 7 days before the end of the respective quarter. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Terms of the Loan Agreement

The agreement outlines the financial structure and security arrangements for the debt funding. The following table summarizes the significant terms:

The parties confirmed that they are not related to each other in terms of promoter or promoter group holdings, and the transaction does not fall under related party transactions. The funds are specifically earmarked for the Altyn Tor Gold Project, marking a notable step in Deccan Gold Mines' overseas expansion efforts.

Deccan Gold Mines Limited has confirmed and expanded its Bhalukona critical minerals discovery in Chhattisgarh, establishing a broad corridor of potentially economic nickel, copper, and palladium mineralisation. The mineralised corridor extends over a strike length of approximately 430 metres to depths exceeding 200m and remains open, with ongoing drilling indicating potential continuation across a larger target zone extending up to 1.3 kilometres. This development reinforces the project's potential to emerge as one of India's most significant critical minerals discoveries, strengthening domestic resource security essential for clean energy technologies and electric mobility.

The company has completed approximately 1,500 metres of diamond drilling across nine drill holes. Assay results confirm widespread sulphide mineralisation containing nickel, copper, and platinum group elements (PGEs), including localised occurrences of platinum. Microscopic studies have confirmed the presence of pentlandite, chalcopyrite, and pyrrhotite sulphides, which are key indicators of a potentially significant nickel-copper sulphide system. The Bhalukona-Jamnidi Composite Licence was among the first critical minerals licences granted in India following the government's strategic push to accelerate domestic exploration.

Key Assay Results

The drilling programme has yielded significant intersections of nickel equivalent (Ni_Eq) mineralisation. The Ni_Eq is calculated by weighting metal grades by current market values, using prices of US$20,000/t for nickel, US$13,000/t for copper, and US$1,500/oz for palladium. The table below summarises the key drill hole intersections reported to date:

Exploration Progress and Future Plans

Deccan Gold initiated exploration activities at the 30 sq. km Bhalukona Nickel Block following the execution of the Bhalukona-Jamnidi Composite Licence by the Government of Chhattisgarh on 01 April 2025. The company acquired necessary forestry approvals for non-destructive exploration activities. Dr Hanuma Prasad Modali, Managing Director of Deccan Gold, stated that the latest results significantly strengthen confidence in the scale and continuity of the mineralised system. He noted that the project's potential to become India's first Nickel-Copper-PGE mine is increasingly encouraging given the strategic importance of critical minerals for economic competitiveness and resource security. The company plans to accelerate exploration activities to define a mineable resource and progress toward mining lease applications, with drilling resuming aggressively post-monsoon.