Deccan Gold Mines Q1 FY27: moving from explorer to producer, one pour at a time

Standalone profit was reported as Rs 11.5 million. The company highlighted positive associate contribution from Geomysore Services (Jonnagiri project) and progress toward commercialization at the Altyn Tor project in Kyrgyzstan, including first doré produced on 5 August.

Management stated Geomysore contributed Rs 6.35 crore of profit to Deccan Gold, linked to sale of 59.001 kg of gold during the quarter.

The presentation reported Q1 doré production of 112.683 kg Au, ingot production of 89.702 kg Au, and sales of 59.001 kg Au. Project revenue was shown as Rs 87.16 crore with profit after tax of Rs 25.63 crore.

The company reported first gold doré produced on 5 August using ILS and Merrill-Crowe recovery, and said it is progressing toward full-scale production with commissioning of leach circuit and tailings facility and a revised mine design and LOM plan targeted for September/October 2026.

Yes. Management reiterated guidance of around 500-600 kg gold production for Jonnagiri in FY 2026-27 and around 150-160 kg for Altyn Tor for FY 2026-27 (from around September to March), with higher targets indicated for the following year.

Management said cash flows from Jonnagiri to Deccan would come only via dividends from Geomysore Services, and it doubts dividends in this financial year due to expansion needs, though it may happen next year.

The Board approved raising over Rs 137 crore through CCDs, equity shares and equity warrants (subject to shareholder approval). The stated purpose is deployment across exploration, project development and production expansion to accelerate the company’s transition into a production-oriented mining company.