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Stock Report
Deccan Gold Mines Limited enters into two strategic alliance agreements
Posted On : 2023-03-15 10:58:49( TIMEZONE : IST )
With an objective of further strengthening its technical capabilities in relation to its gold Projects going forward, Deccan Gold Mines Limited has entered into two Strategic Alliance Agreements for setting up of processing plant and execution of mineral exploration and drilling work for such projects.
The Company has started providing mineral exploration consultancy services during the last one year for clients in India / abroad. The Company believes that entering into the above Agreement (s) will also further consolidate and strengthen its efforts in this domain.
Strategic alliance for setting up of processing plant for gold mining industry:
The Company has entered into a Strategic Alliance Agreement with AK Corporation - FZCO ("AKC") a company organized and existing under the laws of United Arab Emirates. Under this Agreement, the Company and AKC will work as Strategic Partners in the setting up of / construction of processing plant focused on gold mining industry.
AKC has extensive experience in the construction of processing plants for the gold mining industry and has successfully completed / operating such plants in Africa particularly in the country of Mauritania.
Strategic Alliance for execution of drilling contract assignments:
The Company has entered into a Strategic Alliance Agreement with Kartikay Exploration and Mining Services Pvt., Ltd., Nagpur ("Kartikay"). Under this Agreement, the Company and Kartikay will work as Strategic Partners in the execution of mineral exploration and drilling work.
Kartikay is one of the leading mineral exploration and drilling contractor with a pool of highly experienced and professional manpower consisting of Geologists, Drilling Experts, Engineers and offers services to mining industry in India and abroad.
Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 45.22 as compared to the previous close of Rs. 44.67. The total number of shares traded during the day was 340336 in over 659 trades.
The stock hit an intraday high of Rs. 46.90 and intraday low of 44.58. The net turnover during the day was Rs. 15668368.00.
