Deccan Gold Mines secures additional debt funding

Deccan Gold Mines announced today that it has completed the necessary documentation to avail additional debt funding of INR 30 Crore from Godawari Power & Ispat Limited, Chhattisgarh ("Godawari"). The funds will be allocated with INR 15 Crore earmarked for acquiring 93,750 equity shares of Geomysore Services (India) Private Limited at INR 1600 per share. The remaining INR 15 Crore will support the development of its Altyn Tor Gold Project in Kyrgyzstan and other general corporate purposes. The loan tenure is 36 months, with an interest rate of 12% per annum. The loan will be secured by a pledge of 93,750 equity shares to be allotted to Deccan Gold Mines in Geomysore Services (India) Private Limited, valued at INR 15 Crore. This new funding is part of an overall debt agreement of INR 80 Crore.