Deccan Gold edges higher on inking Technical & Commercial Consultancy pact with Hira

Deccan Gold Mines Ltd. | Mining & Minerals | Metals & Mining | BSE: 512068 | NSE: DECNGOLD

15 Nov 2012 Evaluate

Deccan Gold Mines is currently trading at Rs 24.20, up by 0.55 points or 2.33% from its previous closing of Rs 23.65 on the BSE.

The scrip opened at Rs 23.65 and has touched a high and low of Rs 24.70 and Rs 22.75 respectively. So far 29113 shares were traded on the counter.

The BSE group 'T' stock of face value Re 1 has touched a 52 week high of Rs 26.45 on 18-Oct-2012 and a 52 week low of Rs 15.60 on 21-Aug-2012.

Last one week high and low of the scrip stood at Rs 24.80 and Rs 22.70 respectively. The current market cap of the company is Rs 142.23 crore.

The promoters holding in the company stood at 43.56% while Institutions and Non-Institutions held 3.07% and 53.37% respectively.

Deccan Gold Mines’ (DGML) wholly-owned subsidiary Deccan Exploration Services (DESPL) has entered into a Technical and Commercial Consultancy and Advisory Services Agreement with Chhattisgarh-based Hira Infratek to develop Ganajur Gold project in Karnataka.

As per agreement, Hira would provide the whole gamut of technical and commercial consultancy and advisory services to assist DESPL with the development of the Ganjaur Gold Project, including advisory services on the procedures and regulatory requirements to enable grant and execution of the Mining Lease and dealing with the environmental and other issues connected thereon. The tenure of this agreement is for a period of three year, extendable with mutual consent.

In consideration services, Hira shall be entitled to a nine percent stake in the project. This 9% stake in the project will only be recognized upon the execution of the Mining lease deed for the Ganajur Gold Project between DESPL and the State Government of Karnataka.

Post acquisition of this stake, Hira shall be required to chip in proportionate amount of capital thereafter for the development of the project to maintain its stake. All future project development costs, post mining lease execution, will be shared between DESPL and Hira in the ratio of 91:9. In case Hira prefers not to contribute further funds to maintain its stake at nine percent in the project, its stake will get diluted accordingly

Deccan Gold Mines Share Price

120.95 -4.10 (-3.28%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Coal India	456.35
NMDC	88.80
GMDC	684.70
Sandur Manganese	241.35
MOIL	315.65
View more..

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