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Deccan Gold Mines gets Govt nod on Ganajur Gold Project

By Religare
|

Deccan Gold Mines Ltd on Monday said according to the Ministry of Mines, Government of India (MoM) website its subsidiary's, Deccan Exploration Services Pvt Ltd's (DESPL's), mining lease application w.r.to the Ganajur Gold Project has been approved on July 24, 2015.

"The website of the Ministry of Mines, Government of India (MoM) has been updated to indicate that the Mining Lease application of the company's subsidiary i.e., Deccan Exploration Services Private Limited (DESPL) with regard to the Ganajur Gold Project has been approved by MoM on July 24, 2015," said Deccan Gold Mines Ltd in a filing to the Bombay Stock Exchange on July 27, 2015.

 

The company shall update once DESPL receives the official intimation from MoM in this regard, it added.

Deccan Gold Mines engages in the mining and exploration of gold properties in India. It has a portfolio of exploration prospects in the states of Karnataka, Andhra Pradesh, Kerala, and Rajasthan. Its flagship project is the Ganajur-Karajgi prospecting license block that covers an area of approximately 2.2 square kilometers located in Ganajur, Karnataka.

After hitting a 52 week high, shares of the company were trading at Rs 58.05 apiece, up 19.94 per cent, from previous close on BSE at 11:04 hours.

Story first published: Monday, July 27, 2015, 12:40 [IST]
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