Deccan Gold Mines' Stock Increased by 5% as Its Associate Initiates Pre-Commercial Trials at Jonnagiri Plant

Mumbai, October 10, 2025: Deccan Gold Mines Ltd (BSE: 512068) stock rose more than 5% during Friday’s mid-day trading session. This surge came after its associate company, Geomysore Services (India) Pvt Ltd, started its pre-commercial stock trials at the Jonnagiri Process Plant in Andhra Pradesh.

Incorporated in 2003, Deccan Gold Mines Ltd is India’s first listed gold exploration company, operating in the Precious Metals segment. The company’s shares are listed on the BSE SmallCap index and categorized under the Listed – B / T+1 settlement group.

Significance of Development for Jonnagiri Gold Project

The beginning of pre-commercial production is a significant milestone in the Jonnagiri Gold Project that shifts it from development towards production. The company expects to achieve pre-commercial production by November 2025, with gold production expected to ramp up to an estimated production of 900 kg of refined gold by FY2028, which will contribute to India’s gold production capacity.

Market and Stock Performance

The announcement sparked a positive response from investors. As of 2:56 PM IST on October 10, the stock was trading at ₹143.40, up ₹2.30 or 1.63%, with a total turnover of ₹7.72 crore. The stock has a 52-week high/low of ₹170.50/₹85.30. Its market capitalization stands at ₹2,340.57 crore, while the free float market cap is ₹1,640.01 crore.

Project Update and Management Commentary

Geomysore, in which Deccan Gold holds a 27% stake, has initiated ore production and processing plant trials at Jonnagiri. The majority stake in Geomysore is held by Thriveni Group and Lloyds Enterprises.

Commenting on the milestone, Dr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Ltd, said, “This is a major achievement that lays the foundation for the revival of the gold mining industry in India. It will boost further investments into the gold mining sector, which is in need of capital infusion and new discoveries. As a key shareholder of Geomysore, Deccan Gold is proud to be part of this project.”

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/aa3299ef-bac9-4862-88f3-aff9b202d7cd.pdf

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