Deccan Gold Mines Ltd

Financial Performance

• Geomysore contributed about Rs.6.35 Crores of profit; PAT booked.
• Sold about 59 kilos of gold; revenue about Rs.87 Crores; Deccan's share Rs.6.35 Crores.
• End-Q1 stock: 40 kg gold, 60 kg dore; total 80 kg.
• Gold price realization around Rs 1,50,000 per 10 g in current quarter.
• Jonnagiri Q1 output: 112 kg dore produced; ~90 kg bullion; 59 kg sold.
• Board-approved fundraising: Rs 137 Crores via CCDs, equity shares and equity warrants; shareholder approval pending.
• Two verticals defined: gold production and critical minerals; enabling separate growth plans.

Operations and Production

• Jonnagiri: production ramp; June quarter output 112 kg dore; ~90 kg bullion; 59 kg sold.
• Altyn Tor: dore bar via Merrill-Crowe; gravity circuit commissioned; leaching circuit added.
• Finland Kalevala: drill Kuikka and Pahkalampi; feasibility study targeted 2027; underground mining planned.
• Ganajur: court hearing ongoing; rights restoration possible; production timeline uncertain.

Projects and Capex

• Jonnagiri: 2,500 tpd processing facility planned; potential up to 2 tpa gold.
• Bhalukona (Chhattisgarh): 3,000 tpd plant; capex about Rs 650–700 Crores.
• Altyn Tor: tailings facility; underground capex ~ Rs 150–200 Crores over next years.
• Logrosan Tungsten (Spain): 77 sq km license; plan ~1,000 tpd processing plant.
• Mozambique Li/Ta: 85% stake; ~150 sq km licenses; plan 200 tpd plant by 2027.
• Finland Kalevala: feasibility target 2027; processing plant contemplated; underground approach planned.

Outlook and Guidance

• Next quarter expected bigger; Jonnagiri and Kyrgyzstan ramp to contribute.
• Fundraise of Rs 137 Crores approved; for exploration and faster project ramp-up; shareholder approval pending.
• Two verticals with separate growth plans; emphasis on gold production and critical minerals.

Q&A Highlights

• Q: Dividend/cash flow from Jonnagiri; A: Dividends depend on Geomysore Board; unlikely this year.
• Q: Revenue guidance for Kyrgyzstan/Jonnagiri; A: No firm guidance yet; next quarter will clarify.
• Q: Capex funding for multiple projects; A: Debt and equity mix; off-take possible for critical minerals.
• Q: Ganajur court status; A: Hearings ongoing; rights restoration possible; timeline uncertain.
• Q: Hutti status; A: Focus on Ganajur; Hutti possible if tenure restored.
• Q: AGM format; A: Physical AGM planned.

Meeting Details

• Date: August 12, 2026, 11:00 IST
• Type: group earnings call; Mode: virtual
• Event: Outcome & Audio Recording of the Earnings Call – Q1 FY 2026-27

Participants

• Key participant: Company Secretary & Compliance Officer

Purpose

• Purpose: earnings/results discussion with investors

Additional Notes

• Audio recording of the call and earnings presentation available on the company website

Business Overview

• Gold-focused explorer/developer with Jonnagiri, Ganajur, and Altyn Tor assets.
• Pursues critical minerals: Bhalukona Ni-Cu-PGE, Mozambique Li-Ta, tungsten-tin.
• Capex plan of ₹137 crore to accelerate transition to production.
• Altyn Tor development ongoing; Jonnagiri in production.

Key Operational Highlights

• Jonnagiri Q1: doré 112.683 kg; ingot 89.702 kg; sales 59.001 kg.
• Altyn Tor: first doré produced on 5 August; advancing to full-scale production.
• Three assets under due diligence; potential production by 2028.
• Board changes: Elango appointed Chairman; Jade Devenish joined; Deepthi Donkeshwar retired.

Financial Performance

• Standalone profit positive at ₹11.5 million.
• Geomysore contributed ₹6.35 crore profit from 59 kg gold sale.
• Revenue ₹87.16 crore; PAT ₹25.63 crore; DGML share ₹6.35 crore included.
• End-Q1 inventory: Gold 40 kg; Doré 60 kg.

Capital Structure & Liquidity

• Capital raise approved: ₹137 crore via CCDs, equity, warrants.
• Funds to be deployed for exploration, development, and production expansion.
• No debt/ liquidity metrics disclosed in this update.

Strategic Priorities & Outlook

• Two strategic verticals: Gold Projects and Critical Minerals.
• New projects targeted for production by 2028.
• GMSI plan: resources to +40 t Au; 90 kg/quarter; >700 kg/yr by 2029.
• Kalevala Finland: 51% stake target with US$1-2 million investment.

Risks & Mitigation

• Ganajur legal risk; Supreme Court Indocil case pending.
• Permitting delays across jurisdictions; mitigated by ongoing legal actions.
• Execution risk in early-stage projects; due diligence ongoing.

Governance & Leadership

• Chairman Pandarinathan Elango appointed; Jade Devenish joined; Deepthi Donkeshwar retired.

Purpose

• Approve private placement of CCDs, Equity Shares, and Equity Warrants; and appoint a director.

Resolutions

• Special: CCDs up to 8,57,216 convertible to equity; non-promoter private placement; floor price Rs191.90.
• Special: Equity Shares up to 3,90,827 at Rs191.90; non-promoter private placement; Rs 750.0 lakhs.
• Special: Equity Warrants up to 59,26,196; convertible to equity within 18 months; 25% upfront; non-promoter.
• Ordinary: Appoint Jade Gemma Devenish as Non-Executive, Non-Independent Director from Aug 7, 2026.

Voting Outcome

• Voting results not disclosed; outcome to be announced.

Impact on Shareholding/Control

• No change in control; promoter stake diluted by non-promoter allotments.

Use of Proceeds

• Total proceeds of Rs 13,767.37 lakhs to repay loans, fund exploration, capex, and working capital.

Management Changes

• Jade Gemma Devenish appointed as Director, Non-Executive; liable to rotation.

Other Governance/Financial Impact

• Monitoring agency Infomerics appointed; floor price fixed; e-voting and VC/OAVM facilitation.

Independent Director cessation

• Ms. Deepthi Donkeshwar ceased to be Independent Director on August 08, 2026 after completing a second term.
• No interim arrangements or board/committee changes disclosed.

Cessation of Independent Director Kailasam Sundaram

• Ceased as Independent Director and Chairperson on Aug 07, 2026 after completing the second five-year term.