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Stock Report
Jonnagiri Gold Project of Geomysore Services India Pvt Ltd receives Environmental Clearance
Posted On : 2025-04-19 19:01:07( TIMEZONE : IST )
At its meeting held on March 25, 2025, the Expert Appraisal Committee (Non-Coal Mining Sector) of the Ministry of Environment, Forest and Climate Change, Government of India ("EAC") has recommended the grant of Environmental Clearance for the Gold Ore Processing Plant Component of the Jonnagiri Gold Project of Geomysore Services (India) Private Limited ("Geomysore" - Associate Company of Deccan Gold Mines Limited). The Minutes of the EAC Meeting uploaded on the Ministry's portal on April 18, 2025 includes the decision of the Committee to this effect.
By way of background, the shareholders may note that a successful public consultation process was held on February 18, 2025 at Jonnagiri, Andhra Pradesh as part of the environmental clearance process for the plant component of the Jonnagiri Gold Project. For more details, the shareholders are encouraged to refer to our market update made on February 19, 2025. Following this, the proposal was taken up by the EAC at its meeting held on March 25, 2025. Geomysore will now take steps to obtain Consent for Operations from the Government of Andhra Pradesh which will pave the way for commencement of gold production at Jonnagiri.
Commenting on the development, Dr Hanuma Prasad Modali, Managing Director stated "at the outset, we are thankful to all the stakeholders for their support to the Jonnagiri Gold Project. This is a significant milestone in our journey towards commissioning of the Jonnagiri Gold Project which will be the first ever private sector gold mine in India. We shall keep our shareholders promptly updated of further developments in this regard."
Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 102.81 as compared to the previous close of Rs. 101.75. The total number of shares traded during the day was 368217 in over 2819 trades.
The stock hit an intraday high of Rs. 104.98 and intraday low of 102.25. The net turnover during the day was Rs. 38082093.00.
