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DECNGOLD · price
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Deccan Gold Mines has completed documentation to avail a loan of Rs. 1.8 crore from Beyond The Crowd Ventures LLP. The loan carries an interest rate of 12% per annum and a tenure of 12 months. The funds will be used primarily to finance the Altyn Tor Gold Project of Avelum Partner LLC, a subsidiary based in the Kyrgyz Republic. The loan is secured by a pledge of 11,250 equity shares held by Deccan Gold Mines in Geomysore Services (India) Private Limited. The lender is not related to the company's promoter or group companies.
This is a modest new borrowing (Rs. 1.8 crore) to support an overseas gold mining subsidiary, which signals continued investment in the Altyn Tor project. The 12% interest rate and share pledge suggest a relatively expensive funding source, but the amount is small relative to typical corporate borrowings and unlikely to materially impact the stock.