Deccan Gold Mines Limited has completed the allotment of 3,93,37,893 fully paid-up equity shares through its rights issue, following the finalization of the basis of allotment in consultation with the registrar and BSE Limited. The Board of Directors approved the allotment through a circular resolution dated December 29, 2025.

Rights Issue Completion Details

The company allotted equity shares at an issue price of ₹80 per share, including a premium of ₹79 per equity share with a face value of ₹1 each. The allotment was made to eligible equity shareholders and applicants including renouncees as per the rights issue terms.

Share Capital Enhancement

Following the rights issue allotment, the company's paid-up equity share capital has increased significantly. The additional equity shares will rank pari-passu in all respects with the existing fully paid-up equity shares of the company.

Previous Promoter Transactions

Prior to the rights issue completion, the company had disclosed promoter transactions involving rights entitlements. Rama Mines Mauritius Limited and Australian Indian Resources Limited sold rights entitlements worth ₹73.41 crores through market transactions on BSE between December 19-22, 2025.

Regulatory Compliance

The rights issue allotment disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations. The communication was signed by Subramaniam Sundaram, Whole Time Director and Company Secretary, ensuring compliance with continual disclosure requirements for capital structure changes.

Deccan Gold Mines Limited has announced its strategic decision to invest in a tungsten project located in Spain, marking a significant expansion into critical minerals. The company plans to acquire up to a 75% stake in the Logrosan project, an early-stage exploration venture with encouraging mineralisation results.

Project Overview and Mineralisation Results

The Logrosan project is situated in a highly mineralised region of Spain, known for tungsten, tin, rare earth elements, and gold occurrences. Early exploration and limited drilling have yielded promising results:

The project shows substantial potential to convert discovered mineralisation to Mineral Resources within 1 to 2 years.

Strategic Advantages of Spanish Operations

Spain offers several compelling advantages as a mining destination:

• Rich mineral endowment in critical minerals
• Supportive permitting and ownership structure
• Competitive operating costs
• Proximity to European industrial markets
• Absence of production-based royalties

Tungsten's status as a globally recognised critical mineral is due to its strategic applications in defence, aerospace, high-temperature alloys, industrial cutting tools, and electronics. With China accounting for over 80% of worldwide production, non-Chinese sources are increasingly relevant.

Technical Expertise and Market Position

Deccan Gold Mines' technical experience in gold exploration, drilling, and resource evaluation is directly transferable to tungsten deposits. Dr. Hanuma Prasad Modali, Managing Director, emphasized the company's broader vision of expanding India's presence in strategically important minerals.

"Our evaluation of the Logrosan Tungsten Project reflects Deccan Gold's broader vision of expanding India's presence in strategically important minerals that power tomorrow's industries," stated Dr. Modali. "As India accelerates its critical minerals strategy, Deccan Gold is methodically exploring opportunities that strengthen our global footprint, reduce supply-chain vulnerabilities, and enable India to participate meaningfully in materials that are vital for advanced manufacturing, defence, and sustainability."

Additional Exploration Opportunities

The company noted potential upside in associated gold and rare earth element targets, along with ongoing regional exploration including the nearby Maria Gold Project. The Maria Gold Project, located within the broader Logrosan mineralised corridor, represents a prospective near-surface gold and antimony system.

Historical work and recent exploration have identified encouraging gold anomalies through stream sediment sampling and reconnaissance studies, suggesting potential for a structurally controlled mineralised trend across the Maria zone.

Deccan Gold Mines, the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited, has committed to updating shareholders on further developments regarding this strategic acquisition.