Intimation of commencement of pre-commercial production trials (PCOD) at the Jonnagiri Process Plant of Geomysore Services (India) Private Limited, India ("Geomysore)
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Deccan Gold Mines has informed that its associate company Geomysore Services (India) Pvt Ltd has started pre-commercial production trials (PCOD) at the Jonnagiri Process Plant in Andhra Pradesh. Ore production is already underway and processing plant trials have begun, marking the project's shift from development to trial production. Commercial production is targeted to start in November 2025, with plans to scale up to about 900 kg of refined gold annually by FY2028. Deccan Gold holds a 27% stake in Geomysore, with the majority held by Thriveni Group/Lloyds Enterprises.
This is a positive milestone for Deccan Gold as its associate moves toward becoming a revenue-generating gold producer, providing potential future earnings via its 27% stake. Near-term impact may be limited since Deccan Gold is a minority shareholder, but successful ramp-up to full production by 2028 could materially boost its valuation.