Shares of Deccan Gold Mines jumped 20% to hit a fresh all-time high level on Monday after the Supreme Court upheld the pre-2015 mining lease rights of the company for the long-delayed Ganajur Gold Project in Karnataka.
In an exchange filing released on Monday, the gold and critical minerals company said that Justices Prashant Kumar Mishra and Atul S Chadukar-led bench of the apex court, in its order dated June 9, ruled that the company’s vested and accrued rights would continue to exist irrespective of subsequent amendments, as an order to grant a mining lease and requisite approvals had been taken before 2015.
