AIR enters into agreement with Avelum Partners, Kyrgyzstan

Australian Indian Resources Limited, Australia (AIR) has announced that they have entered into a Management Consultancy Agreement with Avelum Partners, Kyrgyzstan (Avelum). This Consultancy Agreement is for a period of one year with a provision for renewing it annually. It may be noted that Avelum is operating an open pit gold mine in Kyrgyzstan.

AIR will be the management consultant for this gold Project and its role would involve advising on expansion of the mine / gold production and enhance processing plant capacity. A team of geologists and process engineers would work on this project.

As shareholders are aware, the Company is in the process of acquiring a significant stake in GMSI through a Composite Scheme of Arrangement which involves taking over of AIR as a wholly-owned subsidiary of our Company.

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 31.35 as compared to the previous close of Rs. 29.90. The total number of shares traded during the day was 166917 in over 407 trades.

The stock hit an intraday high of Rs. 31.35 and intraday low of 28.45. The net turnover during the day was Rs. 5008684.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 AustralianIndianResources AvelumPartners Kyrgyzstan ConsultancyAgreement