DGML gets Rs 60 cr investment commitment for key projects

New Delhi: Deccan Gold Mines Ltd (DGML) on Wednesday said it has received an investment commitment of Rs 60 crore for developing its key projects --Jonnagiri Gold Project in India and Altyn Tor Gold Project in Kyrgyzstan. The investment commitment has been received from Ardent Steel, Hira Infra Tek Pvt Ltd and Med Edu Care Marketing Management, Dubai, the company said in a filing to BSE. The funds are likely to be received over the next couple of months, it said.

"DGML has secured investment commitment of Rs 60 crore...to cater to the development of its key projects viz., Jonnagiri Gold Project, India and Altyn Tor Gold Project, Kyrgyzstan," the filing said. DGML, the first and only gold exploration company listed on BSE, has a significant stake of 40 per cent in Geomysore Services India Ltd, which is developing the first private sector gold mine at Jonnagiri. DGML was established in 2003 by promoters with deep roots in the exploration and mining sector. DGML for a long period of time has been involved in gold exploration activities in India and overseas. DGML's exploration in India, particularly in Karnataka, led to the discovery of open pittable gold deposits in the Archaean greenstone belts of Dharwar Craton.