Geomysore Services India Private Limited (GMSIT) has stated that a Bhumi Puja was done in Jonnagiri, Andhra Pradesh, for the construction of a 1500 TPD (tonnes per day) processing plant for its Jonnagiri Gold Project.

This marks the start of the Project's civil and structural work.

The processing plant is planned to be finished by the end of 2024. Crushing, grinding, and elution equipment has already been purchased. Work on the water pipeline would begin concurrently.

On September 1, 2023 Deccan Gold Mines Ltd (DGML) made its first-tranche investment of Rs 15 crore into GMSI and would be investing a further amount of Rs 13.50 crore into GMSI by September 10, 2023.

Thus, DGML would be making a total investment of Rs 28.50 crore into GMSI.

The key shareholders of GMSI viz., Thriveni Earth Movers Private Limited ("Thriveni') and DGML agreed to infuse Rs 60 crore of Equity Capital into GMSI.