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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 completed documentation for a Rs. 4.2 crore loan from Beyond The Crowd Ventures LLP. The loan has a tenure of 12 months at 12% per annum interest. The funds will be used to finance the Altyn Tor Gold Project of Avelum Partner LLC in the Kyrgyz Republic, which is a subsidiary of the company. The loan is secured by pledging 26,250 equity shares held by the company in Geomysore Services (India) Private Limited. The lender holds 21,000 shares in Deccan Gold Mines Ltd, and the transaction is not classified as a related party transaction.
The new debt facility increases the company's liabilities by Rs. 4.2 crore with a relatively high 12% interest rate. This borrowing supports international expansion but adds financial obligations that will need to be repaid within 12 months.