Geomysore commences pre commercial production trials at Jonnagiri Process Plant

The management of Geomysore (an associate company of Deccan Gold) has informed us about commencement of Pre Commercial production trials (PCOD) at the Jonnagiri Process Plant of the Company located in Andhra Pradesh, India. By way of background, it may be noted that Deccan Gold holds 27% stake in Geomysore with the majority stake being held by Thriveni Group / Lloyds Enterprises.

Further, Geomysore has intimated that the ore production is underway and processing plant trials have been initiated. With this, the Jonnagiri Gold Project has transitioned from development to precommercial trial production stage and commercial production is targeted to begin in November, 2025. The Project is expected to scale up over time and produce up to 900 kgs of refined gold annually by FY 2028.

Commenting on this development, Dr Hanuma Prasad Modali, Managing Director of Deccan Gold Mines Limited, stated: "This is a major achievement which lays the foundation stone for the revival of the gold mining industry in India. It will boost further investments into the gold mining sector in India, which is obviously in need of capital infusion and new discoveries. As a key shareholder of Geomysore, Deccan Gold is proud to be part of this project. I extend my sincere appreciation to all stakeholders and teams, whose vision, commitment and perseverance have enabled Geomysore to reach this pivotal stage in its journey."

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 141.10 as compared to the previous close of Rs. 141.55. The total number of shares traded during the day was 321951 in over 3447 trades.

The stock hit an intraday high of Rs. 144.50 and intraday low of 140.50. The net turnover during the day was Rs. 45908562.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 Mining Geomysore PreCommercialProductionTrials Jonnagiri ProcessPlant