Update on Jonnagiri Gold Project of Geomysore Services (India) Private Limited ("Geomysore"- Associate Company )-Environmental Clearance received .
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Deccan Gold Mines' associate company Geomysore Services has received the Environmental Clearance for the Gold Ore Processing Plant at the Jonnagiri Gold Project in Andhra Pradesh. The Expert Appraisal Committee (Non-Coal Mining Sector) of the Ministry of Environment recommended the clearance on March 25, 2025, with minutes published on April 18, 2025. This follows a successful public consultation held on February 18, 2025. The next step is obtaining Consent for Operations from the Government of Andhra Pradesh, which will enable the start of gold production. The project, once operational, will be India's first ever private sector gold mine.
This is a significant positive milestone that removes a key regulatory hurdle and brings the project closer to gold production, potentially unlocking long-awaited revenue. For shareholders, it represents meaningful de-risking of a path-breaking first-of-its-kind asset, though the stock may already reflect some of this expectation.