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Stocks of Deccan Gold surged to a high of Rs 46.80 per share or 6% on BSE, as the final hearing about grant of hutti block licence to Deccan Gold Mines Ltd., is scheduled at Supreme Court, on Tuesday.
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Shares of mining companies such as Ashapura Minechem, Sandur Manganese & Iron Ores, Maithan Alloys surged in the noon trade on Wednesday after the Union Cabinet cleared a new mineral exploration policy.
The plan is to go into production in Ganajur by last quarter of 2017, or first quarter of 2018. By then all licenses and permits would be in place, said Sandeep Lakhwara, Managing Director, Deccan Gold Mines.
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"Deccan Exploration Services has so far completed 2,000 metres of drilling in four prospects namely Ganajur Main, Ganajur SE, Karajgi Hut and Ganajur South," the company said in its filing.