Deccan Gold Mines Ltd updates on trial production at Jonnagiri Gold Project of Geomysore Services

Geomysore has intimated that its Jonnagiri Gold Project in Andhra Pradesh has successfully completed trail runs through the full processing circuit and all the equipment and process flows have been firmly established. Performance of the plant is as envisaged during feasibility studies.

During the trial, about 40kg of dore bar has been produced. Currently the project is transitioning into commercial production. Eventually refined gold will be produced commercially from the project. This marks a significant achievement as 12 hard years of work for the entire Geomysore team has come to fruition as the Jonnagiri Gold Project is now producing gold.

As the Project continues to ramp up to full production, it will make a significant contribution to India's domestic production of a metal that so many of us hold dear to our hearts and value as a long-term store of wealth.

By way of background, it may be noted that Geomysore is an associate company of Deccan Gold in which it holds a 27% stake with the major shareholders being Lloyds Enterprises / Thriveni Group.

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 93.60 as compared to the previous close of Rs. 94.35. The total number of shares traded during the day was 256013 in over 2239 trades.

The stock hit an intraday high of Rs. 95.95 and intraday low of 92.30. The net turnover during the day was Rs. 24041797.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 Mining Geomysore JonnagiriGoldProject TrialRuns