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DECNGOLD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Deccan Gold Mines Ltd has called an Extra-Ordinary General Meeting on May 21, 2026 at 11:30 a.m. via video conferencing, with e-voting open from May 18 to May 20, 2026. The only business on the agenda is an Ordinary Resolution seeking shareholder approval for material related party transactions involving the company's wholly owned subsidiary Deccan Gold FZCO (Dubai) and its 60% subsidiary Avelum Partner LLC (Kyrgyz Republic), with combined transaction limits of up to INR 170 crore (INR 20 crore with related parties, INR 50 crore with DGFZCO, and INR 100 crore with Avelum). The company plans to raise up to INR 100 crore in debt from related parties (including promoter group foreign entities and KMPs) to fund the Altyn Tor Gold Project, with these loans to be secured by pledging the company's shares in its associate/subsidiary companies. The Altyn Tor project is at an advanced stage with commercial production expected in August/September 2026 and a long-life underground mining plan extending to 2045. Promoters, directors, KMPs and their relatives are not permitted to vote on this resolution.
Shareholders should evaluate this carefully: Avelum Partner LLC has a negative net worth of around INR 26.2 crore and reported losses of INR 21.4 crore in FY25, making the proposed INR 100 crore funding critical for the Altyn Tor mine's commissioning. Approval enables fund-raising and pledging of shareholdings in subsidiaries as collateral, which could dilute subsidiary-level flexibility but is necessary to bring the project into production, a key value-driver for the stock.