Mining sector acquisition move in Turkey: Signatures signed

Sındırgı Maden İşletmeleri A.Ş., one of Turkey's significant mining assets, has been acquired by Türk Altın. With the official agreement concluded, mining licenses and facilities within the borders of Balıkesir and Bilecik passed to their new owner.

Share Transfer Agreement Signed

As a result of the negotiations held between Türk Altın and Sındırgı Maden İşletmeleri A.Ş., official steps were taken and the contract was signed for the transfer of all shares.

Acquisition Price Clarified

The preliminary agreement price, previously announced as 69.9 million dollars, was re-evaluated following legal, financial, technical examinations and valuation studies. As a result of the negotiations conducted by the parties, the final acquisition price was finalized at 65.5 million dollars.

Transferred Assets and Facilities

Within the scope of the realized operation, a total of six Group IV operating licenses, 108 immovable properties, an ore processing facility, and a waste storage facility were incorporated into Türk Altın. Additionally, all machinery, equipment, installations, and fixtures located in these areas were also transferred.

Gold and Silver Reserves

Reports prepared according to the National Mineral Resources and Reserves Reporting Commission (UMREK) standards revealed the potential in the transferred areas. According to the estimates made, there are approximately 76,049 ounces of gold and 1.8 million ounces of silver reserves in the relevant field.