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Ambitious news about reserves came from the Gübretaş mine site, a subsidiary of Tarım Kredi. The Turkish Agricultural Credit Unions CEO and President, Fahrettin Poyraz Gubretas, said in a statement to the Anatolia news agency that Gubretas said the golden willow field has identified gold resources of 3.5 million ounces. Poyraz, “When we try to get ahead of today’s prices, we are talking about a value of about $ 6 billion.” said.
REPORTED TO THE BOARD ON DECEMBER 7
Poyraz noted that they reported the presence in the minefield to the stock exchange. The company made the announcement to KAP on December 7. The state also includes the estimated figure. It was indicated in the report that there were approximately 3.5 million ounces of resources, of which 1 million 920 thousand ounces were completed gold reserves. According to the report, it is determined that 1.6 million ounces will be converted to reserves at a rate of 83 percent as a resource.
IT IS CALCULATED TO BE ISSUED IN 10 YEARS
However, the company must establish a minefield. The cost of this is believed to be $ 500 million. It is estimated that the gold in question will be mined for 10 years. The landing cost of a thousand dollars an ounce is calculated. In this case, the after-tax income from which the business can generate an income of $ 800 per ounce is estimated to be around $ 600. Revenues amount to $ 1.3 billion over 10 years at a reduced price to date. It is estimated that the company will earn 800 million dollars with this mine, when 500 million dollars of investment are deducted.
POYRAZ ANNOUNCED TO THE ANATOLIAN AGENCY
Poyraz made an assessment of the most recent situation in the field of the gold mine of Tarım Kredi’s subsidiary, Gübretaş, in the Söğüt district of Bilecik. Poyraz explained that said site was transferred to the Koza Gold company to be operated in 2008, but Gübretaş filed a lawsuit for the cancellation of the contract after the company did not comply with its obligations, and that the aforementioned lawsuits were concluded in December of 2019, including the appeal stages, and that the field there was handed over to Gübretaş in all its rights. He said it was decided.
Poyraz recalled that the FETÖ coup attempt on July 15 took place during this period and the Koza company passed to the SDIF and said:
“As soon as the court stages were completed, we entered into a dialogue with SDIF and Koza and completed the entire transfer process related to the mine site. Drilling activities related to the mine field have been conducted from the past to the present to determine the value of the gold asset Drilling work continued partially while the courts continued Drilling related data and technical documents We took over from Koza for a price We started updating the report regarding the information that we acquired with an internationally accredited company. This report was delivered to our institution at the end of November “.
Poyraz stated that they also worked on how to manage the next process and that they established the Gübretaş Maden AŞ company owned by Gübretaş in this process.
‘WE REPORTED TO THE BORSA’
Poyraz noted that the presence in the minefield reveals serious value for the Turkish economy and Gübretaş and made the following assessment: “In the report we reported to the stock exchange, it was revealed that there were approximately 3.5 million ounces of resources in the field. It is also determined that 1.6 million ounces will be converted into reserves at a rate of 83 percent as a resource, considering this amount, we can mention around 3.2 million ounces of gold in the Söğüt gold mine When we try to present it as a security, we are talking about a value of about $ 6 billion. “
This mine, emphasizing that among the few mines in the world, Poyraz, “Perhaps the first in Turkey to enter the world’s top 5 in density with gold. Considering that approximately 2-3 percent of the world average, where the average of gold on a ton of land “The average rate on assets is 8.6 percent. This rate increases to 12 percent in some parts of the mine field to 14 percent. The piercing reveals it. This means how low the operating cost is. “He used the expressions.
‘WE WILL PROVIDE OUR OWN FACILITIES AND EQUIPMENT’
Poyraz, General Manager, stated that they are making serious preparations to bring this mine to the Turkish economy, “We could have given the business to a different company or we could have partnered with another company, but the power of Gübretaş in structuring the Gübretaş company Maden AŞ, with the support of Tarım Kredi, this mine is our own means, Our teams have made the decision to bring them to Gübretaş, Tarım Kredi and Turkish agriculture through our own investments. We will do it ourselves supporting it in terms of financing. the value we brought here to Gübretaş and we will bring it to the Turkish agriculture and economy through renovation investments and new investments in company facilities. Our technical preparations and financing efforts continue rapidly, we will bring the mine here to the economy Turkish within 2 years interior Our goal is to extract the first gold in Turkey and transform it into value in the Turkish economy “. said.
‘6 BILLION DOLLAR ASSETS’
The gold economies drawing attention to the importance of Poyraz, said: “Assets of approximately $ 6 billion today that its contribution to Turkey’s economy will certainly be much higher. We do it domestically, we see it as a problem in our country. We know Mr. closely the precision of the national economy Our president. Like Gübretaş and Tarım Kredi, we will do whatever it takes to bring them to the national economy with the means, we set ourselves a 2-year goal, we will start To bring this value to our economy during this period, we will quickly complete the technical work and associated formalities and start the investment process. We appoint Mahmut Karaman as CEO of Maden AŞ. “
Poyraz pointed out that the report prepared by the internationally accredited body on the mine will provide important opportunities for financing this investment, and said that there are organizations that want to work with them in terms of financing.
Poyraz added that this investment will also contribute to the economy and employment of Bilecik and Söğüt.
