Latest news with #DeccanGoldMines
India.com
3 days ago
- Business
- India.com
India's first gold mine since independence to produce around 750 kgs of gold annually, expected to bring Rs 3500000000 in earning, it is located in…, name is…
India's first gold mine since independence to produce around 750 kgs of gold annually, expected to bring Rs 3500000000 in earning, it is located in..., name is For the first time since India's independence, a new gold mine is about to start operations in the country. This mine is located in Jonnagiri, a region in Kurnool district of Andhra Pradesh. It is expected to produce around 750 kilograms of gold every year. The company handling this project is Deccan Gold Mines Limited, which has now received approval from the Andhra Pradesh Pollution Control Board to begin mining. The mine will be run in partnership with another company called Geomysore Services (India) Pvt. Ltd. According to Hanuma Prasad Modali, the Managing Director of Deccan Gold Mines, the mine will produce around 400 kg of gold in the first year, and once it reaches full capacity, production will increase to 750 kg annually. He also shared that this is the first gold mine to be opened in India in the last 80 years. After the announcement, the share price of Deccan Gold Mines jumped by nearly 10 per cent on Thursday, showing strong market interest in the project. Estimated Earnings: Rs. 300 to Rs. 350 Crore Now that the Andhra Pradesh Pollution Control Board has given its final approval, Deccan Gold Mines can begin operating both the mine and the processing plant. However, the company has said that it will take a few more months before actual work starts, as trial runs need to be done before full-scale mining begins. The gold extracted from this mine will be sold to nearby refineries for processing. Speaking about the revenue, the company estimates that if they manage to extract 400 kilograms of gold in the first year, it could bring in Rs. 300 to Rs. 350 crore in earnings. This is based on an expected EBITDA margin of 60 per cent. The company believes that this level of revenue may be achieved by the financial year 2027. Shares soar after mining approval Once the news broke that Deccan Gold Mines had received permission to begin mining, its stock took off. The share price climbed to a 10-month high, closing at Rs. 163.70 on Thursday, a jump of 9.73 per cent for the day. Over the last year, Deccan Gold's shares have risen by around 60 per cent, and since the start of 2025, they've already gained 46.7 per cent.
Economic Times
4 days ago
- Business
- Economic Times
Deccan Gold Mines shares zoom 14% after Jonnagiri gold project receives consent to operate
Deccan Gold Mine announced that its associate, has received Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board. Deccan Gold Mines shares: In a regulatory filing, Deccan Gold Mines announced that Geomysore has received approval to begin operations at the Jonnagiri project—a key milestone following prior environmental clearances and public consultations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Deccan Gold Mines surged 14.3% intraday on Thursday to hit a day's high of Rs 170.50 after the company announced that its associate firm, Geomysore Services (India), has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB) for its Jonnagiri Gold Project In a regulatory filing, Deccan Gold Mines stated that it has been informed by Geomysore about the approval, which marks a significant milestone in the development of the Jonnagiri project. The CTO allows Geomysore to initiate the operation phase of the gold project, following earlier environmental approvals and public CTO approval comes after the successful grant of Environmental Clearance by the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest and Climate Change (MoEFCC) during its meeting held on March 25, clearance pertains to the gold ore processing plant component of the project, and its official confirmation was published on the Ministry's portal on April 18, context to the development, a public consultation process for the project was conducted earlier in February, in Jonnagiri, Andhra Pradesh. Following this, Geomysore applied for the environmental clearance from the MoEFCC in line with the regulatory obtaining the clearance, the firm subsequently applied for the CTO from APPCB in April 2025, completing the final step required before the commencement of gold Jonnagiri project is among the first privately held gold mining initiatives in India to reach this advanced stage of regulatory approval. The company stated that it will continue to keep shareholders informed about future developments.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
4 days ago
- Business
- Time of India
Deccan Gold Mines shares zoom 14% after Jonnagiri gold project receives consent to operate
Deccan Gold Mine announced that its associate, has received Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board. Deccan Gold Mines shares: In a regulatory filing, Deccan Gold Mines announced that Geomysore has received approval to begin operations at the Jonnagiri project—a key milestone following prior environmental clearances and public consultations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Deccan Gold Mines surged 14.3% intraday on Thursday to hit a day's high of Rs 170.50 after the company announced that its associate firm, Geomysore Services (India), has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB) for its Jonnagiri Gold Project In a regulatory filing, Deccan Gold Mines stated that it has been informed by Geomysore about the approval, which marks a significant milestone in the development of the Jonnagiri project. The CTO allows Geomysore to initiate the operation phase of the gold project, following earlier environmental approvals and public CTO approval comes after the successful grant of Environmental Clearance by the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest and Climate Change (MoEFCC) during its meeting held on March 25, clearance pertains to the gold ore processing plant component of the project, and its official confirmation was published on the Ministry's portal on April 18, context to the development, a public consultation process for the project was conducted earlier in February, in Jonnagiri, Andhra Pradesh. Following this, Geomysore applied for the environmental clearance from the MoEFCC in line with the regulatory obtaining the clearance, the firm subsequently applied for the CTO from APPCB in April 2025, completing the final step required before the commencement of gold Jonnagiri project is among the first privately held gold mining initiatives in India to reach this advanced stage of regulatory approval. The company stated that it will continue to keep shareholders informed about future developments.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business Standard
29-05-2025
- Business
- Business Standard
Deccan Gold Mines reports consolidated net profit of Rs 14.45 crore in the March 2025 quarter
Sales decline 99.70% to Rs 0.01 crore Net profit of Deccan Gold Mines reported to Rs 14.45 crore in the quarter ended March 2025 as against net loss of Rs 67.40 crore during the previous quarter ended March 2024. Sales declined 99.70% to Rs 0.01 crore in the quarter ended March 2025 as against Rs 3.36 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 32.80 crore in the year ended March 2025 as against net loss of Rs 63.69 crore during the previous year ended March 2024. Sales rose 11.37% to Rs 3.82 crore in the year ended March 2025 as against Rs 3.43 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 0.013.36 -100 3.823.43 11 OPM % -211900.00-132.44 - -1602.36-338.48 - PBDT -23.88-6.77 -253 -70.99-16.22 -338 PBT -27.06-10.45 -159 -83.70-25.09 -234 NP 14.45-67.40 LP -32.80-63.69 49
