DGML-BSE-Update_01-08-2021

Update on Ganajur Mining Lease (ML) of Deccan Exploration Services Private Limited (DESPL), our wholly owned subsidiary

Introduction

In continuation of our earlier Update made on 26/07/2021, we present the following further information with regard to Ganajur ML of DESPL.

  1. Multiple Writ Petitions filed in Hon’ble High Court of Madhya Pradesh challenging amendments made to Section 10A(2)(b) of MMDR Act, 1957.   High Court rules that “Status Quo” is to be maintained in disputed Mining Lease areas
  • Similar Writ Petition to be filed by DESPL, a 100% owned subsidiary of Deccan Gold Mines Ltd in the Hon’ble High Court of Karnataka, additionally seeking grant of Ganajur Mining Lease (ML) based on earlier approvals and Court judgements
  • DESPL to also pursue Right of First Refusal as a fall back over Ganajur Mining Block and bid for satellite sites adjacent to Ganajur ML

Updates on our granted Tanzanian projects and share swap with shareholders of Geomysore Services (India) Private Limited to acquire a 49% stake in the Company are to follow in the ensuing days. Investor Relation calls to be held post these updates

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