Introduction:
Leading mining company has provided an update on the Altyn Tor Gold Project in Kyrgyzstan, highlighting positive drilling results that could increase JORC Mineral Resources by up to 30,000 ounces. Despite winter pauses, construction continues with ongoing collaboration for approvals.
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Share price movement of Deccan Gold Mines:
On December 19, 2024, Deccan Gold Mines Ltd. opened at ₹108.50, up 0.82% from its previous close of ₹111.60. The stock reached a high of ₹120.90 (3.76%) and a low of ₹107.90. By 4:00 PM, it traded at ₹115.80, a 3.76% increase, with a market cap of ₹1,782.79 crore.
Deccan Gold advances Altyn Tor project:
Deccan Gold has provided an update on its Altyn Tor Gold Project in Kyrgyzstan. As the majority stakeholder, Deccan Gold remains optimistic about the project’s future, with the 2024 drilling program expected to significantly increase JORC Mineral Resources by up to 30,000 ounces.
In 2024, Avelum Partners LLC, a subsidiary of Deccan Gold, completed 11 diamond drill holes, providing valuable data to enhance resource confidence and test extensions of the orebody. These results indicate potential for an expanded pit or underground mining operations, extending the project’s lifespan.
Construction activities have paused due to winter conditions, but minor civil works continue. Deccan Gold is collaborating with local officials to streamline permits and approvals, ensuring no delays once construction resumes..
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Recent news on Deccan Gold Mines:
As of December 04, 2024, Deccan Gold Mines reported a significant increase in net sales, up 2343.73% to ₹0.76 crore. However, the company faced a net loss of ₹64.37 crore and negative EBITDA of ₹20.91 crore for Q2 2024.
Stock performance of Deccan Gold Mines for Period of 1 week, 6 months and 1 year:
Deccan Gold Mines Ltd. has shown strong performance, with a 2.66% return over the past week. The company has also experienced a solid 11.6% return over the last six months and a 1.98% increase in the past year.
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Shareholding pattern of Deccan Gold Mines:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 25.20% | 25.50% | 25.60% |
| FII | 1.90% | 2.00% | 1.90% |
| DII | 0.00% | 0% | 0% |
| Public | 72.90% | 72.50% | 72.40% |
About Deccan Gold Mines:
Deccan Gold Mines Limited (BSE: 512068), established in 2003, is a leading gold exploration company. It focuses on modern exploration methods through its subsidiary, Deccan Exploration Services, with a growing portfolio in India and abroad since 2021.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
