Deccan Gold Mines is set to commence drilling operations at its critical mineral projects during the current quarter, marking a significant step forward in the company's exploration activities.

Project Development Timeline

The company has indicated its readiness to begin drilling operations, representing a crucial phase in its mineral exploration strategy. This development suggests that preliminary exploration and assessment activities have been completed, allowing the company to move forward with more intensive drilling operations.

Strategic Implications

The initiation of drilling activities at critical mineral projects demonstrates the company's commitment to advancing its exploration portfolio. Critical minerals play an essential role in various industrial applications, and the development of such projects could position the company strategically within the mining sector.

Operational Progress

The planned commencement of drilling operations indicates that Deccan Gold Mines has progressed through initial project evaluation phases. The timing of these activities within the current quarter suggests the company is maintaining its operational schedule and moving forward with its exploration objectives.

This drilling initiative represents a key operational milestone for the company as it advances its critical mineral projects from exploration to development phases.

Deccan Gold Mines Limited has announced a board meeting scheduled for January 24, 2026, to consider strategic investment decisions and modifications to its rights issue proceeds utilization. The meeting comes following recent developments in the company's investment in Geomysore Services India Private Limited (GMSI).

Recent GMSI Share Acquisition

On January 19, 2026, the company completed the acquisition of equity shares in GMSI, marking a significant strategic investment.

GMSI Rights Issue Proposal

The Board of Directors of GMSI approved a substantial rights issue at their meeting held on January 21, 2026. The rights issue parameters demonstrate the scale of the proposed capital raising exercise.

Board Meeting Agenda

The upcoming board meeting will address several critical matters under Regulation 29 of SEBI LODR. The key agenda items include:

• GMSI Rights Issue Participation: Proposal to participate in GMSI's rights issue
• Change in Objects: Modification of the company's own rights issue objects, including utilization of proceeds for investment purposes
• Proceeds Utilization: Deviation in utilization of the company's rights issue proceeds aggregating to ₹314.70 crore
• Regulatory Compliance: Fixing date, time and venue for Extraordinary General Meeting and appointment of scrutinizer

Financial Implications

The proposed changes involve significant financial considerations for the company's capital allocation strategy.

Regulatory Framework

The board meeting intimation has been made pursuant to Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also made this information available on its website at deccangoldmines.com, ensuring transparency and compliance with disclosure requirements.

The meeting reflects the company's strategic approach to capital deployment and its commitment to maximizing shareholder value through carefully considered investment opportunities in the mining and related services sector.