1. Opening Hook
Gold just hit fresh highs, central banks are hoarding like apocalypse preppers, and Deccan Gold decided this was the perfect time to say: “Enough PowerPoints, let’s pour doré.”
While most Indian companies are still selling future optionality, Deccan quietly produced 40 kg of actual gold at Jonnagiri and said, “Trial run, boss.” Kyrgyzstan followed suit, Spain entered the tungsten chat, Mozambique brought lithium and copper, and suddenly this isn’t a mining PPT—it’s a global treasure hunt.
Management sounds confident, timelines sound aggressive, and lawyers are still camping in the Supreme Court. Somewhere between optimism and audacity lies Deccan Gold’s FY26 story.
Read on—because the real drama isn’t the gold price. It’s whether execution finally matches the ambition. Things get spicy later.
2. At a Glance
- 40 kg gold produced – Trial run, but shiny enough to silence skeptics.
- Production starts FY26 – “This quarter” is management’s favourite phrase.
- Target >0.5 tonne gold – Ambition upgraded from grams to bragging rights.
- AISC ~$1,020–1,045/oz – Respectable, assuming geology cooperates.
- Market cap ~₹2,140 Cr – Valuing tomorrow’s gold, not yesterday’s excuses.
- Global footprint (6 countries) – Diversification or frequent flyer addiction?
3. Management’s Key Commentary
“Pre-commissioning trials at Jonnagiri produced 40 kg of
gold.”
(Translation: This is no longer a geological theory. 😏)
“Altyn Tor will generate USD 50 million revenue with 40% PAT.”
(Translation: Kyrgyzstan is now expected to fund optimism.)
“We aim to produce over 0.5 tonnes of gold in 12–18 months.”
(Translation: Please don’t ask us about delays until FY27.)
“Rights issue proceeds were used to reduce debt.”
(Translation: Balance sheet went on a diet.)
“Ganajur hearing expected once Supreme Court reopens.”
(Translation: Our fate depends on a courtroom, not a drill rig.)
“Critical minerals are vital for India’s national security.”
(Translation: Gold is emotional, lithium is political. 😌)
4. Numbers Decoded
Project | Stake | Annual Gold | AISC ($/oz) | Status
---------------|-------|-------------|-------------|-------------------------
Jonnagiri | 27% | ~450 kg | ~1,021 | Trials done, ramp-up FY26