Turkish Gold is making a 50 million dollar investment in Balıkesir.

Turkish Gold Takes Significant Investment Step in Balıkesir

Turkish Gold (TRALT) has drawn attention with its decision to acquire a new mining license area in Balıkesir. The company announced that it has decided to acquire the Group IV Operating License from Turkey Mineral Industry, a subsidiary of the Turkey Wealth Fund, for a total of 50 million dollars.

Resources and Reserve Volumes in the Region

According to the information obtained, there are a total of 700,000 ounces of resources in the mining area to be acquired. Additionally, it was stated that the reserve volume in this area is determined to be 500,000 ounces. As part of the agreement, Turkish Gold will also pay 2.5% of net smelting revenue.

Payment Schedule and Conditions

In the announcement made, it was stated that the payments will be made in three installments. The first installment of 16.66 million dollars is planned to be paid within a maximum of 5 business days from the date the contract is signed. The second installment will be paid on March 31, 2027, and the third installment will be made on December 31, 2028, or on a date prior to the commencement of gold production from the ore in the license area.

Market Reactions

Following the news, TRALT shares began the trading day with an increase of approximately 3%. As of 10:07 AM, shares continued to trade with an increase of 2.73%, reaching 48.90 TL.

With these developments, Turkish Gold's investment step in Balıkesir is seen as a significant opportunity, particularly in the mining sector and gold investments. However, it is important to note that the information provided here does not constitute investment advice.