Mr. Sandeep Lakhwara, Managing Director – Deccan Gold Mines Limited, 11 December 2007 :
In an environment, where the price of gold is scaling new heights and by all accounts will continue to do so, where the supplies from new discoveries is dwindling, where the demand for gold continues to outstrip mine supply, where the Government of India has made several forward thinking statements about improving the mineral policy environment to encourage exploration companies to invest more funds into the industry, supported by the Government’s serious intentions to fast track the granting of permits as evidenced by the Hoda Commission recommendations, where India remains the largest consumer of gold, where DGML continues to hold some of the country’s best known gold exploration areas, and is supported by a professional team of technical people with adequate funding for its immediate needs and the potential ability to raise more funds as and when required, the opportunity for DGML to consolidate its position as the country’s premier listed gold exploration company is very strong.
First and foremost, the permits applied for by the company must be granted by the Government. DGML will then undertake detailed drilling in several areas already known to contain potential gold resources as part of the feasibility studies required to be undertaken to ascertain the viability of mining in these areas. Should these studies prove conclusive and deliver positive results, DGML plans to undertake mine development and commence mining activities. DGML is also looking to acquire offshore gold assets in an advanced stage of development and merging these with the company’s Indian gold assets to create a global gold company out of India.
Click Here to download PDF