Heavy buying: Back-to-back upper circuit in this small-cap multibagger gold mining company; stock gains over 400 per cent in a year!

Heavy buying: Back-to-back upper circuit in this small-cap multibagger gold mining company; stock gains over 400 per cent in a year!

Praveenkumar Yadav

Shares of the company have gained about 230 per cent in the last six months.

Shares of Deccan Gold Mines Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 230 per cent.

Recently, Deccan Gold Mines received a Letter of Intent for the Bhalukona-Jamnidih Nickel, Chromium and Associated PGE Block in Chhattisgarh from the Directorate of Geology & Mining, Government of Chhattisgarh. This is a significant milestone in the company's efforts to diversify into the critical mineral domain.

Deccan Gold Mines Limited is the first and only gold exploration company listed on the Bombay Stock Exchange Limited (BSE). It was established in the year 2003 by Australian promoters with deep roots in the mining and exploration sector. Since its inception, DGML and its wholly owned subsidiary Deccan Exploration Services Private Limited (DESPL) actively pursued gold exploration activities through the adoption of modern methods and the latest technology in all of its exploration prospects. Since the change in management in October 2021 the Company has made significant efforts to expand its portfolio in India and overseas.

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The company has expanded its footprint in India and overseas through acquisitions and partnerships. It has acquired a significant stake in a gold project in Andhra Pradesh, won the e-auction for a nickel block in Chhattisgarh, and initiated action to acquire stakes in gold projects in Kyrgyzstan and Finland. It also important to note that exploration companies by their nature will not generate mining revenues until the commencement of mining operations.

The stock can show strong growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.

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