Deccan Gold Mines Secures Rs 1.8 Crore Loan from Beyond The Crowd Ventures LLP for Gold Project Funding
Deccan Gold Mines Limited has completed documentation to avail a loan of Rs 1.8 Crore from Beyond The Crowd Ventures LLP. The funds are designated primarily to finance the Altyn Tor Gold Project, which is managed by Avelum Partner LLC, a subsidiary of Deccan Gold Mines.The agreement outlines specific terms for the debt funding provided by Beyond The Crowd Ventures LLP (Lender) to Deccan Gold Mines Limited (Borrower). This transaction is unrelated to any promoter or promoter group entities and does not constitute a related party transaction.
Key details of the loan arrangement include:
| Particulars | Details |
|---|---|
| Lender | Beyond The Crowd Ventures LLP |
| Borrower | Deccan Gold Mines Limited |
| Total Loan Amount | Rs 1.8 Crore |
| Tenure | 12 months |
| Interest Rate | 12% per annum |
| Security Provided | Pledge of 11,250 equity shares held by the Borrower in Geomysore Services (India) Private Limited |
The purpose of the funding is explicitly linked to supporting the Altyn Tor Gold Project located in Kyrgyz Republic.
The transaction details confirm that Deccan Gold Mines Limited and Beyond The Crowd Ventures LLP are not related parties. Furthermore, the loan agreement was structured as debt funding and did not involve any issuance of shares to the involved parties.
DECNGOLD Stock Price Movement
Shares of Deccan Gold Mines Limited are edging higher to ₹165.81 as of 1:50 PM, rising 2.64% in live trading today. The equity shows robust activity, having seen 1.45 million shares trade during the session so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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