Key Operational Highlights

Gold Production Performance

  • Jonnagiri Project (Geomysore Services): Produced 112 kilos of dore bar in Q1 FY27, with 90 kilos converted to bullion
  • Sold 59 kilos of gold generating Rs.87 crores revenue with Rs.25 crores PAT
  • Deccan's share of profit: Rs.6.35 crores booked in Q1
  • Inventory position: 40 kilos of gold and 60 kilos of dore bar (equivalent to ~80 kilos gold) remaining at quarter-end
  • Current production rate: Approximately 1 kilo per day (30 kilos monthly)
  • Expansion plans: Targeting 2,500 tons per day processing facility (from current 1,010 tons) to achieve 2 tons gold annually by 2029-30

Kyrgyzstan Project (Altyn Tor)

  • Commenced dore bar production using Merrill-Crowe system
  • Gravity circuit commissioned, producing gravity concentrates
  • Leaching circuit added, nearing full-scale production
  • Existing tailings: 0.6 million tons containing 1.3g/t gold (780 kilos total)
  • Low-grade stockpile: 1 million tons available
  • Total investment: Rs.300+ crores invested to date
  • Employment: Currently 200 local employees, planning to add 100 more (30 engineers from India)

Fundraising Activities

  • Board approved Rs.137 crores fundraising through CCDs, equity shares, and warrants
  • Requires shareholder approval
  • Funds earmarked for exploration of other projects excluding Kyrgyzstan
  • Management and HNIs participating in the fundraising

Board and Management Changes

  • Mr. Kailasam (Chairman) and Deepthi (Independent Director) retired
  • Mr. Pandarinathan Elango (ex-CEO Cairn Energy) appointed as new Chairman
  • Ms. Jade Devenish appointed as Non-Executive, Non-Independent Director (formerly MD of Geomysore Services 2012-2022)

Project Portfolio Updates

Gold Projects Pipeline

1. Finland (Kalevala Gold): 27.36 sq km licensed area

  • Kuikka deposit: 1 ton gold resource at 5g/t average grade
  • Pahkalampi prospect: 2 tons gold resource at 3.5g/t
  • Planning 1,500m drilling starting September 15, 2026
  • Target: 4+ tons resource, feasibility study in 2027

2. Ganajur Project: Awaiting court decision

  • Recent judgments in similar cases (Gadchiroli iron ore) favorable for rights restoration
  • Potential production: 1 ton gold annually if approved

3. New Acquisitions: Due diligence on 3 new gold assets

  • One in Kyrgyzstan (~10 tons gold) offered by government
  • Targeting production start by 2028

Critical Minerals Portfolio

1. Bhalukona (Chhattisgarh): Nickel-Copper-Platinum project

  • 30 sq km composite license
  • 2,500m drilling completed, 1.3km mineralized zone identified
  • Planning 3,000 tons per day processing plant
  • Estimated capex: Rs.650-700 crores

2. Logrosan Tungsten (Spain): 37 sq km licensed, 30 sq km pending

  • 3,000m drilling completed, all holes intersected mineralization
  • Best results: 1.21% tungsten at 535m depth
  • Target: 3 million tons resource, 1,000 tons per day plant

3. Mozambique Lithium: 150 sq km across three licenses

  • 4-5 pegmatite zones identified
  • Planning 1,500-2,000m drilling starting September 2026
  • Target: 200 tons per day processing plant by end-2027

Strategic Initiatives

  • Battery Metals Focus: Strengthening portfolio with nickel, lithium, graphite assets
  • MoU with CECRI: Collaboration on lithium-ion battery research and development
  • MoU with XTerra: Technical support for critical mineral blocks
  • Government Support: Exploring National Critical Mineral Mission funding (Rs.44,000 crores corpus)

Financial Guidance

  • Jonnagiri FY27: 500-600 kilos gold production target
  • Jonnagiri FY28: 750-800 kilos gold production target
  • Kyrgyzstan FY27: 160 kilos gold production target
  • Kyrgyzstan FY28: 350 kilos gold production target

Capital Requirements

  • Estimated total capex requirement: ~Rs.2,000-2,200 crores across all projects
  • Funding strategy: Combination of debt-equity (50-50) and off-take arrangements
  • Critical minerals projects may qualify for government funding support