Deccan Gold Mines
- Thread starter jnj333
- Start date
DEECCAN GOLD MINES...
B very very carefull instocks which do not allow one to enter , for , when the tide turns....the vice versa also happens
todays close..117.65
technically , the scrip gave a thundering buy on 7/9/07 @ 15.80 close.
on a med to long term basis , its a HOLD....only a close below 40 will alter the bullish outlook..
B very very carefull instocks which do not allow one to enter , for , when the tide turns....the vice versa also happens
todays close..117.65
technically , the scrip gave a thundering buy on 7/9/07 @ 15.80 close.
on a med to long term basis , its a HOLD....only a close below 40 will alter the bullish outlook..
STOPLOSS UPGRADED TO 53.50
Deccan Gold Mines Ltd has informed that the Company has concluded a Memorandum of Understanding (MoU) with JB Mining Holdings Ltd, Hongkong (JB).
DGML, announces the signing of a Memorandum of Understanding (MoU) with JB whereby DGML shall carry out the entire gold exploration, resource estimation and planning for feasibility studies to facilitate mining activities for Projects held by JB in the Republic of Djibouti, North East Africa.
The salient features of the MoU are as under;
a) JB has entered Into a Joint Venture (JV) with the Government of Republic of Djibouti to undertake gold exploration activities in certain mineral prospects in Djibouti.
b) The mineral prospects proposed to be explored are the blocks of Hesdaba, Asaleyta, Garrabayis and V.GPS41 respectively The area covered by each one of these 4 prospect blocks is 100 sq., kms
c) The exploration strategy for the aforesaid gold prospects would include remote sensing studies, geological mapping, systematic channel sampling followed by planning of boreholes and core drilling, core logging and analysis of cores and fire assay for gold and silver.
d) JB has appointed DGML as the Project Manager to carry out the entire exploration work and ascertain feasibility of the Projects to commence commercial production.
e) JB proposes to execute the Projects through an SPV (JV Co.,) to be incorporated in an off shore jurisdiction. The JV Co., shall be primarily responsible for execution of the Projects in Djibouti.
f) DGML shall be entitled to a Professional Fee, equivalent to 10% of the total operational & management cost of the Project over and above getting reimbursed for all its direct and indirect costs in under-taking its role as Project Manager.
g) Further, DGML would get free carried equity in the JV Co equivalent to 5% of JBs equity stake in the iv. Further, DGML has the right to take up an additional equity stake in the JV Co., equivalent to 20% of is stake in the JV at a 50% discount to the Market Value of the Project. DGML plans to exercise this right should exploration activities result in the successful discovery of mineable deposits.
DGML, announces the signing of a Memorandum of Understanding (MoU) with JB whereby DGML shall carry out the entire gold exploration, resource estimation and planning for feasibility studies to facilitate mining activities for Projects held by JB in the Republic of Djibouti, North East Africa.
The salient features of the MoU are as under;
a) JB has entered Into a Joint Venture (JV) with the Government of Republic of Djibouti to undertake gold exploration activities in certain mineral prospects in Djibouti.
b) The mineral prospects proposed to be explored are the blocks of Hesdaba, Asaleyta, Garrabayis and V.GPS41 respectively The area covered by each one of these 4 prospect blocks is 100 sq., kms
c) The exploration strategy for the aforesaid gold prospects would include remote sensing studies, geological mapping, systematic channel sampling followed by planning of boreholes and core drilling, core logging and analysis of cores and fire assay for gold and silver.
d) JB has appointed DGML as the Project Manager to carry out the entire exploration work and ascertain feasibility of the Projects to commence commercial production.
e) JB proposes to execute the Projects through an SPV (JV Co.,) to be incorporated in an off shore jurisdiction. The JV Co., shall be primarily responsible for execution of the Projects in Djibouti.
f) DGML shall be entitled to a Professional Fee, equivalent to 10% of the total operational & management cost of the Project over and above getting reimbursed for all its direct and indirect costs in under-taking its role as Project Manager.
g) Further, DGML would get free carried equity in the JV Co equivalent to 5% of JBs equity stake in the iv. Further, DGML has the right to take up an additional equity stake in the JV Co., equivalent to 20% of is stake in the JV at a 50% discount to the Market Value of the Project. DGML plans to exercise this right should exploration activities result in the successful discovery of mineable deposits.
'Deccan Gold expects some mining licences by Dec'
Mon Aug 25, 2008
"MUMBAI (Reuters) - Deccan Gold Mines Ltd expects to get some of the 25 mining licences that are likely to be approved by the government by the end of the year, Managing Director Sandeep Lakhwara told television channel NDTV Profit.
"I believe that even if we get a half dozen of those through, that would be a huge progress..we are talking both at the state and the central level and are reasonably optimistic about the outcome," Lakhwara said on Monday.
The company is currently focusing on either acquiring or forming joint ventures for projects outside India, especially in countries in the African continent and Australia, he added."
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Ready To Race?, keeping my fingers crossed. Even if it gets 10 licences which takes the company to mining stage, it will be highly beneficial for the company.
Mon Aug 25, 2008
"MUMBAI (Reuters) - Deccan Gold Mines Ltd expects to get some of the 25 mining licences that are likely to be approved by the government by the end of the year, Managing Director Sandeep Lakhwara told television channel NDTV Profit.
"I believe that even if we get a half dozen of those through, that would be a huge progress..we are talking both at the state and the central level and are reasonably optimistic about the outcome," Lakhwara said on Monday.
The company is currently focusing on either acquiring or forming joint ventures for projects outside India, especially in countries in the African continent and Australia, he added."
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Ready To Race?, keeping my fingers crossed. Even if it gets 10 licences which takes the company to mining stage, it will be highly beneficial for the company.
Hi JNJ,
have been reading your post since several months. Ihave been buying DGML since it was 15 and now hold significant quantities at an average of 30.
Thanks for the informative posts. I remain terribly bullish about the prospects. but its a patience game.
Globally, junior mining companies are finding it hard to finance themselves without active production. Do you see that as an issue for DGML?Appreciate your views
have been reading your post since several months. Ihave been buying DGML since it was 15 and now hold significant quantities at an average of 30.
Thanks for the informative posts. I remain terribly bullish about the prospects. but its a patience game.
Globally, junior mining companies are finding it hard to finance themselves without active production. Do you see that as an issue for DGML?Appreciate your views
Yes Goldbug, As Gold Mining is highly capital exhaustive, raising funds for the project is the no.1 point I am looking from the management. If they are able to raise sufficient funds, next will be company's gold finding capability,if they do these then sky is the limit for Deccan Gold Mines. Management Skills at Test here, with some major help from the government,But First trigger is the Mining licence, Let's wait and watch.
Regards
jnj
Regards
jnj
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