KGLD information imminent

imageHopefully this week we will be provided with an update with regard to the following:

A. Strategy for building an Indian gold exploration and mine development company.

  • How are GMSI progressing with its proposed acquisition of Bharat Gold Mines Limited? Kolar have a shareholding of 23.5% in Geomysore Mining Services (India).
  • Bharat Gold Mines Limited (“BGML”) have right of first refusal with any tender process.
  • The strategic plan, investment requirements etc or any alternative proposal.


B. GMSI update

  • Progress with drilling and appraisal work to assess the feasibility, scale and timing of building a producing gold mine at Jonnagiri. GMSI has a 30 year mining licence.
  • Information due to be released at the earliest in March 2016.
  • How much additional funding will GMSI require and will Kolar take part in any fund raise? Kolar had been looking to extend the timeframe for them to make a decision until the end of April 2016.
  • Progress with gold licences and applications in other areas.
  • Possible merger with Deccan Gold Mines.

C.  Government announcement

  • Is the Australian company mentioned in the press, Kolar or GMSI? See information here.


This week it should become apparent why investors have been increasing their share holding in Kolar Gold.


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