Hopefully 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.