Deccan Gold raises ₹40 cr. The Altyn Tor project still needs ₹20-60 cr.
A one-year loan from Godawari Power & Ispat closes part of the gap, but the Kyrgyzstan gold project remains underfunded.
— 6 earlier stories on Deccan Gold Mines Ltd. →What's new
- Deccan Gold Mines secured a ₹40 crore loan from Godawari Power & Ispat for its Altyn Tor gold project in Kyrgyzstan.
- The one-year loan carries 12% quarterly compounding and is secured by a pledge of 500,000 Geomysore shares.
- The funds partially close a previously disclosed ₹60-100 crore funding shortfall for the project.
Why this matters
The loan is a start, not a solution. At 1.2% of market capitalisation, it's a small amount that closes only part of the capital requirement. The project remains underfunded by at least ₹20 crore.
What we're watching
- Whether Deccan Gold can secure the remaining ₹20-60 crore needed to fully fund Altyn Tor.
- The status of the pledged Geomysore shares over the loan's one-year term.
- A concrete development timeline for the Kyrgyzstan project now that some capital is committed.
The full read
Deccan Gold Mines has raised ₹40 crore from Godawari Power & Ispat. The one-year loan, at 12% quarterly compounding, is to advance the Altyn Tor gold project in Kyrgyzstan. It is secured by a pledge of 500,000 shares in Geomysore Services. The company had previously said it needed ₹60-100 crore to complete the project. This loan chips away at that gap but doesn't close it. The remaining shortfall is at least ₹20 crore. At 1.2% of market capitalisation, the sum is modest. The lender is an industrial conglomerate, not a bank. That suggests a specific, perhaps relationship-driven, credit decision. The Altyn Tor project now has some capital. It still doesn't have enough. Not yet.
Questions answered
- How much funding is left to fully develop the Altyn Tor project?
- The company flagged a total shortfall of ₹60-100 crore. This ₹40 crore loan leaves a remaining gap of at least ₹20 crore and potentially as much as ₹60 crore.
- What is the collateral for the loan?
- The loan is secured by a pledge of 500,000 equity shares in Geomysore Services. These shares are held as security for the one-year term.
- Why is the lender an industrial firm and not a bank?
- The source identifies Godawari Power & Ispat as a large industrial counterparty but does not explain why the company sought a loan from them rather than a traditional bank. The reason is not given.
Deccan Gold Mines Ltd.
Latest quarter · Mar 2026
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All notes on DECNGOLD →- 5 Jun 2026 · 3:59 PM IST Deccan Gold raises ₹40 cr. The Altyn Tor project still needs ₹20-60 cr.
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