Deccan Gold Mines has informed that the company has been informed by AIR that they have entered into a Management Consultancy Agreement with Avelum Partners, Kyrgyzstan (Avelum). This Consultancy Agreement is for a period of one year with a provision for renewing it annually. The Avelum is operating an open pit gold mine in Kyrgyzstan. AIR will be the management consultant for this gold Project and its role would involve advising on expansion of the mine / gold production and enhance processing plant capacity. A team of geologists and process engineers would work on this project. As shareholders are aware, the Company is in the process of acquiring a significant stake in GMSI through a Composite Scheme of Arrangement which involves taking over of AIR as a wholly-owned subsidiary of the Company.
The above information is a part of company’s filings submitted to BSE.
