Deccan Gold Mines announced that Australian Indian Resources (AIR) has entered into a management consultancy agreement with Avelum Partners, Kyrgyzstan (Avelum).
This consultancy agreement is for a period of one year with a provision for renewing it annually. It may be noted that Avelum is operating an open pit gold mine in Kyrgyzstan.
AIR will be the management consultant for this gold project. Its role would involve advising on expansion of mine/ gold production and enhance processing plant capacity.
The company is in the process of acquiring a significant stake in GMSI through a composite scheme of arrangement which inter alia involves taking over AIR as a wholly owned subsidiary of the company.
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