Update on company operations
We write to present the following update on company operations. (1) Acquisition of significant stake (49%) in Geomysore Services (India) Private Limited (“GMSI’”) through a share swap arrangement: 1.1 Shareholders will recall that Deccan Gold Mines Limited (““DGML”) and GMSI have been in discussions for quite some time regarding acquisition of a significant stake by DGML in GMSI. GMSIT has an executed gold mining license at Jonnagiri in Andhra Pradesh, details of which were provided in our update made on May 29, 2020.
