Operational Update on trial production at Jonnagiri Gold Project of Geomysore Services (India) Private Limited ("Geomysore" - Associate Company)
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Deccan Gold Mines has provided an operational update on its associate company Geomysore Services India, in which it holds a 27% stake. Geomysore's Jonnagiri Gold Project in Andhra Pradesh has successfully completed trial runs through the full processing circuit, with plant performance matching feasibility study expectations. About 40 kg of dore bar was produced during the trial, and the project is now transitioning into commercial production, with refined gold expected to follow. The company highlighted that this milestone comes after 12 years of development work.
This is a positive development as it validates the project's technical viability and moves Deccan Gold closer to earning revenue from its 27% stake in a producing gold mine. Commercial production ramp-up at Jonnagiri could contribute to the company's future earnings, though the 27% minority stake means Deccan Gold's direct financial impact will be proportional.