Deccan Gold Mines Limited , a prominent player in the mining sector, has announced a rescheduling of its Board meeting to December 3 to finalize the terms of a proposed Rights Issue. This development comes after the company received in-principle approval from BSE on November 28.

Upcoming Board Meeting Agenda

The rescheduled meeting will focus on considering and approving various aspects of the Rights Issue, including:

• Issue price
• Entitlement ratio
• Number of equity shares to be issued
• Record date
• Issue schedule

Background of the Rights Issue

Previously, Deccan Gold Mines' Board of Directors had approved a rights issue of equity shares, aiming to raise up to Rs 315.00 crore. The initial decision was made during a board meeting held on November 8.

Key Details of the Proposed Rights Issue

Regulatory Compliance

Deccan Gold Mines has emphasized that the rights issue will be conducted in accordance with applicable laws, including:

• The Companies Act, 2013 (as amended)
• Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (as amended)

The company has also stated that the issue is subject to necessary regulatory and statutory approvals.

Implications for Shareholders

This rights issue presents an opportunity for existing shareholders to potentially increase their stake in the company. However, the impact on individual shareholders will depend on the terms to be finalized in the upcoming board meeting.

Market Disclosure

In compliance with regulatory requirements, Deccan Gold Mines has made this disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholders and potential investors will be watching for the outcome of the December 3 board meeting, as the finalization of the Rights Issue terms could have implications for the company's future growth and operational strategies in the mining sector.

Deccan Gold Mines Limited (DGML) has presented an ambitious roadmap for its global gold and critical minerals operations in an investor presentation. The company, which is India's first listed exploration and mining entity, outlined its diverse portfolio spanning India, Kyrgyzstan, Mozambique, Finland, and Tanzania.

Key Highlights

• Rights Issue: DGML is preparing for its largest capital raise to date, with a rights issue not exceeding ₹315.00 crores.
• Production Targets: The company aims to increase gold production at its Jonnagiri mine in India and Altyn Tor project in Kyrgyzstan to approximately 1 tonne per annum each by 2030.
• Critical Minerals Focus: DGML is expanding into critical minerals, including lithium, tantalum, and copper, with projects in Mozambique and India.
• Finland Operations: The company is advancing gold exploration projects in Finland, a Tier 1 mining jurisdiction.

Operational Updates

Jonnagiri Gold Mine, India

• India's first new private gold mine since independence
• Total JORC Mineral Resources of 8.20 million tonnes at 1.49 g/t Au
• Initial production forecast of 400 kg/year, with plans to increase to 800+ kg/year by FY 2027

Altyn Tor Project, Kyrgyzstan

• 60% investment in Avelum Partners
• Mineral Resources estimated at 4.65 Mt grading 1.21 g/t Au for 5.60 tonnes
• Low-grade stockpiles and tailings to provide 3-4 years of production

Mozambique Projects

• Lithium and tantalum exploration in the Alto Ligonha Pegmatite Province
• Copper exploration in the Tete Province, showing strong evidence of mineralization

Finland Operations

• Three gold exploration projects in Eastern Finland
• Kuikka Deposit showing high-grade gold values ranging from 5g/t to over 120g/t

Bhalukona Nickel Project, Chhattisgarh

• One of the first nickel licenses granted in India
• Early evidence of nickel, copper, and platinum group elements (PGEs) mineralization

Financial and Strategic Outlook

DGML's presentation highlighted its focus on both near-term production and long-term exploration. The company's strategy includes:

1. Increasing gold production at existing mines
2. Developing critical mineral projects in Mozambique
3. Exploring high-potential areas in Finland and India
4. Seeking acquisitions of near-production gold or critical mineral projects

The rights issue, not exceeding ₹315.00 crores, is expected to fund these expansion plans and strengthen the company's position in the global mining sector.

Management Commentary

Dr. M. Hanuma Prasad, Executive Director and Managing Director, stated, "Our diverse portfolio across multiple jurisdictions positions Deccan Gold Mines as a significant player in both gold and critical minerals sectors. We are committed to responsible mining practices and creating value for all stakeholders."

Deccan Gold Mines' investor presentation underscores its transformation from a purely gold-focused company to a diversified minerals producer, aligning with global demand for critical minerals and maintaining a strong presence in the gold sector.