Deccan Gold Mines
- Thread starter jnj333
- Start date
Sir if u know so much about it can u tell me is it worth investing???
want to take 2000 shares of small cap for long run keeping an eye on
Unitech
Gvk power
Burnpur cement
Nagarjun fertiliser
Petronet Lng
Hotel leela
Birla Power
Can u tell me which is best out of these for 5 year investment period????
Or if in ur view any other stock worth investing u like
Thnx in advance
want to take 2000 shares of small cap for long run keeping an eye on
Unitech
Gvk power
Burnpur cement
Nagarjun fertiliser
Petronet Lng
Hotel leela
Birla Power
Can u tell me which is best out of these for 5 year investment period????
Or if in ur view any other stock worth investing u like
Thnx in advance
Found this news byte somewhere..For your reading pleasure...Chk out the details in the link below
http://www.financialexpress.com/new...e-up-to-20-m-from-overseas-investors/126520/1
Deccan Gold Mines to raise up to $20 m from overseas investors
Posted: 2005-02-09 00:34:34+05:30 IST
Updated: Feb 09, 2005 at 0034 hrs IST
Discuss Mumbai, Feb 8: Deccan Gold Mines Ltd (DGML), the only listed gold mining company in the country, is planning to raise up to $20 million from overseas investors through the equity route in a few months time. The company is in talks with various fund managers abroad.
We are talking to fund managers specialising in investing in mining companies overseas. We will be able to finalise it in a few months time, Sandeep Lakhwara, managing director, DGML said. The company is planning to invest $5 million in the next 12-18 months to expand exploration in south India. It has invested Rs 22 crore until now on exploration.
However, DGML is yet to decide on whether to raise this funds in one go or tranches. We are yet to finalise on whether to raise $20 million at one go or take a commitment from investors for investment in tranches, he said.
The requirement of funds will depend on the momentum of exploration and mining activities of the company. We may consider taking large funds from investors and then attack other gold prospects simultaneously, he added.
DGML has already found indicated resources of 217,000 ounces of gold and plans to increase exploration to raise its find to at least 350,000 ounces before it begins mining. The company has found prospects offering 1.67 gram of gold/tonne but it has to reach to 2.5/3 gram per tonne for cost effective mining, Mr Lakhwara stated.
The company said that its ongoing exploration work in the Dharwar Shimoga basin and the Hutti belt is yielding very good results. The announcement was made at a briefing held for Mark Creasy - the famous gold prospector from Australia. The geological similarities between Deccan Golds prospect areas and those in Australia where large discoveries have been made are remarkable, Mr Creasy said.
Adoption and implementation of appropriate exploration strategies and programs by DGML, gives me reason to believe that the potential gold deposits contained within its prospects will soon be unearthed, he said. A major shareholder in DGML, he is currently on his first visit to view the progress made by the company in India. He will be providing further inputs and exploration strategies and programs for DGML, Charles Devenish, chairman of the company said.
Mr Creasy has proven to be the most successful prospector in Australian mining history. He has become a figure of legendary fascination in Australian business circles through his discovery of the Bronzewing and Jundee...
http://www.financialexpress.com/new...e-up-to-20-m-from-overseas-investors/126520/1
Deccan Gold Mines to raise up to $20 m from overseas investors
Posted: 2005-02-09 00:34:34+05:30 IST
Updated: Feb 09, 2005 at 0034 hrs IST
Discuss Mumbai, Feb 8: Deccan Gold Mines Ltd (DGML), the only listed gold mining company in the country, is planning to raise up to $20 million from overseas investors through the equity route in a few months time. The company is in talks with various fund managers abroad.
We are talking to fund managers specialising in investing in mining companies overseas. We will be able to finalise it in a few months time, Sandeep Lakhwara, managing director, DGML said. The company is planning to invest $5 million in the next 12-18 months to expand exploration in south India. It has invested Rs 22 crore until now on exploration.
However, DGML is yet to decide on whether to raise this funds in one go or tranches. We are yet to finalise on whether to raise $20 million at one go or take a commitment from investors for investment in tranches, he said.
The requirement of funds will depend on the momentum of exploration and mining activities of the company. We may consider taking large funds from investors and then attack other gold prospects simultaneously, he added.
DGML has already found indicated resources of 217,000 ounces of gold and plans to increase exploration to raise its find to at least 350,000 ounces before it begins mining. The company has found prospects offering 1.67 gram of gold/tonne but it has to reach to 2.5/3 gram per tonne for cost effective mining, Mr Lakhwara stated.
The company said that its ongoing exploration work in the Dharwar Shimoga basin and the Hutti belt is yielding very good results. The announcement was made at a briefing held for Mark Creasy - the famous gold prospector from Australia. The geological similarities between Deccan Golds prospect areas and those in Australia where large discoveries have been made are remarkable, Mr Creasy said.
Adoption and implementation of appropriate exploration strategies and programs by DGML, gives me reason to believe that the potential gold deposits contained within its prospects will soon be unearthed, he said. A major shareholder in DGML, he is currently on his first visit to view the progress made by the company in India. He will be providing further inputs and exploration strategies and programs for DGML, Charles Devenish, chairman of the company said.
Mr Creasy has proven to be the most successful prospector in Australian mining history. He has become a figure of legendary fascination in Australian business circles through his discovery of the Bronzewing and Jundee...
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