Deccan Gold Mines, which was searching for gold in Tanzania, has found the treasure.
The company has informed us that its subsidiary Deccan Gold Tanzania Private Limited has received high-grade gold samples, high-grade gold means a high amount of gold in every tonne.
The grade of gold decides whether the mining deal at a place will be profitable or loss-making.
The company provided these details to the market a couple of minutes before the close day of trade.
With the news, the stock which was trading in the red increased by 13 percent within a few minutes during trading.
What Information Has The Company Given?
In the information sent to the stock market, the company said that a high-grade gold sample had been found in the prospective licence, i.e. PL Block 11524 in Nazega-Tabora Greenstone Belt in which a maximum of 8.52 grams of gold per ton is possible.
Apart from this, the company has informed us that a prospective license for lithium and its related metals has been recommended in favor of Deccan Gold Tanzania, and the grant order is awaited.
The size of the block for which this PL was given is more than 100 square kilometers.
PL licenses are given to mining companies to explore the possible presence of metal in a block.
After initial investigation information received through PL, companies decide where operations can be started with full force.
The company informed us that its team had started exploration in 5 PL blocks. Out of these, possibilities were seen in 2 blocks in which further exploration was done.
The company had also demanded 3 prospecting licenses in Tanzania. These licenses were for the exploration of gold, lithium, and graphite.
Out of this, PL has been recommended for Lithium. The gold block for which PL has been demanded is one of those blocks where the company has obtained high-grade gold.
Stock Prices Surge
The impact of the news was visible on the stock. Amidst the sharp fall in the stock market, the stock of Deccan Gold Mine has opened with a gain of more than 9 percent at price of Rs 113.60.
However, with the arrival of the news, there was strong buying in the stock.
About Deccan Gold Mines Ltd
Deccan Gold Mines Limited is an Indian gold exploration company.
The company is involved with gold exploration across the States including Karnataka as well as Andhra Pradesh,
where the activities have resulted in the defining of several gold prospection areas in the two states.
The projects of the Company comprise Jonnagiri Gold, Bhalukona-Jamnidih, Hutti-Maski Belt, Dharwar-Shimoga Belt,
and many more. Jonnagiri Gold is the Jonnagiri Gold Project is located within the Kurnool district of Andhra Pradesh, India.
It is a company that has explored several areas that span about 6,574 square kilometers (km). The regions are the Dharwar Shimoga Belt, Hutti-Maski Belt, Mangalur Schist Belt, and Ramagiri Schist Belt.
The Dharwar-Shimoga Belt forms an Archaean part of the Western Dharwar Craton located in Karnataka, the State of Karnataka.
The subsidiary of the Company, Deccan Exploration Services Private Limited has explored the area covering 5000 square kilometers within the Dharwar-Shimoga Greenstone belt,
which is covered by two RP blocks, and discovered 22 gold prospectors.
Fundamental Analysis of Deccan Gold Mines Ltd
| Market Cap | ₹ 1,521 Cr. |
| Current Price | ₹ 108.75 |
| 52-wk High | ₹ 159 |
| 52-wk Low | ₹42.1 |
| Stock P/E | – |
| Book Value | ₹ 18.7 |
| Dividend | 0.00 % |
| ROCE | -2.37 % |
| ROE | -2.85 % |
| Face Value | ₹ 1.00 |
| P/B Value | 5.53 |
| OPM | -2,206 % |
| EPS | ₹ -1.08 |
| Debt | ₹ 93.8 Cr. |
| Debt to Equity | 0.34 |
Deccan Gold Mines Ltd Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹ | ₹ |
| 2025 | ₹ | ₹ |
| 2026 | ₹ | ₹ |
| 2027 | ₹ | ₹ |
| 2028 | ₹ | ₹ |
| 2029 | ₹ | ₹ |
| 2030 | ₹ | ₹ |
Deccan Gold Mines Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 25.89% |
| Mar 2023 | 30.54% |
| June 2023 | 30.54% |
| Sept 2023 | 26.31% |
| Dec 2023 | 25.93% |
| FII Holding | |
| Dec 2022 | 4.35% |
| Mar 2023 | 3.12% |
| June 2023 | 3.12% |
| Sept 2023 | 2.16% |
| Dec 2023 | 1.88% |
| Public Holding | |
| Dec 2022 | 69.75% |
| Mar 2023 | 66.33% |
| June 2023 | 66.34% |
| Sept 2023 | 71.53% |
| Dec 2023 | 72.17% |
Deccan Gold Mines Ltd Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹-0 Cr |
| 2020 | ₹-0 Cr |
| 2021 | ₹-0 Cr |
| 2022 | ₹0 Cr |
| 2023 | ₹0 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹-3 Cr |
| 2020 | ₹-3 Cr |
| 2021 | ₹-3 Cr |
| 2022 | ₹-3 Cr |
| 2023 | ₹-16 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 0 |
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 0.1 |
| 2023 | 0.2 |
Last 10 Years’ Profit Growth:
| 10 Years: | – |
| 5 Years: | 1% |
| 3 Years: | -2% |
| Current Year: | 576% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | – |
| 5 Years: | -5% |
| 3 Years: | -5% |
| Last Year: | -3% |
Sales Growth Over 10 Years:
| 10 Years: | – |
| 5 Years: | – |
| 3 Years: | – |
| Current Year: | 62% |
Conclusion
This article is a complete guide about Deccan Gold Mines Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
If you are new to our website and want to get all the latest updates related to the stock market, join us on Telegram Group.
If you have any further queries, please comment below. We will be happy to answer all your questions.
If you like this information, share the article with as many people as possible.
Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. Also, the share price predictions are completely for reference purposes. The price predictions will only be valid when there are positive signs on the market. Any uncertainty about the company’s future or the current state of the market will not be considered in this study. We are not responsible for any financial loss you might incur through the information on this site. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Do your own research before any investment.
