Turk Altin Says It Signs Operating Mining Licence Transfer Agreement With Turkiye Maden Sanayi For Mining Site In Balikesir

About this update from Turk Altin Isletmeleri A.s.

TÜRK ALTIN İŞLETMELERİ BIST:TRALT:SAID ON WEDNESDAY SIGNS A GROUP IV OPERATING MINING LICENCE TRANSFER AGREEMENT WITH TURKIYE MADEN SANAYI VE TICARET, A SUBSIDIARY OF TURKEY'S WEALTH FUND, FOR A MINING SITE LOCATED IN IVRINDI DISTRICT OF BALIKESIR PROVINCEIT WILL PAY 50 MILLION DOLLARS FOR LICENCE, ALONG WITH 2.5% OF NET SMELTER RETURN, UNDER A STAGGERED PAYMENT SCHEDULE ENDING IN 2028 OR UPON START OF GOLD PRODUCTIONMINING SITE HAS AN ESTIMATED RESOURCE OF 700,000 OUNCES OF GOLD AND RESERVES OF AROUND 500,000 OUNCES, BASED ON INDEPENDENT TECHNICAL REPORTS Source text for Workspace: Further company coverage:

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