Godawari Power & Ispat extends loan to Deccan Gold

Godawari Power & Ispat Limited (GPIL) announced it has executed a Facility Agreement to grant an additional inter-corporate loan of INR30 Crore to Deccan Gold Mines Limited (DGML). According to the company's statement, INR15 Crore of the loan will enable Deccan Gold to acquire 93,750 equity shares in Geomysore Services (India) Private Limited at INR1600 per share. The remaining INR15 Crore is earmarked for the development of Deccan Gold's Altyn Tor Gold Project in Kyrgyzstan. The loan carries an interest rate of 12% per annum, compounded monthly and payable quarterly, with a tenure of 36 months. The loan will be secured by a pledge of the 93,750 equity shares in Geomysore Services, in addition to an existing pledge on 414,603 shares.