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A gold reserve worth 1.2 billion dollars was found by Koza Altın

Making a statement on the Public Disclosure Platform, Koza Altın stated that as a result of the searches, a gold reserve of 1.2 billion dollars was reached. Koza Altın, which is under the management of SDIF, is also traded on Borsa Istanbul.

A gold reserve worth 1.2 billion dollars was found by Koza Altın

In the 2022 National Mineral Resource and Reserve Reporting Commission (UMREK) report published by Koza Altın on March 31, 2023, it was announced to the public that although 206 thousand ounces of gold was produced during the year, the current reserve increased by 154 thousand ounces.

In addition, as a result of the ongoing work in the Kayseri Kaşköy project, 614 thousand ounces of gold potential was expressed as a new discovery resource in the 31 March 2023 UMREK report. With ongoing studies, it is estimated that this resource will increase and its market value may reach approximately 1.2 billion dollars.

The discovery is expected to start production in 2024 and contribute to the balance sheet. After the gold reserve in question is extracted from the ground, it will be processed in the Himmetdede facilities in Kayseri.

In addition to these developments, Koza Altın Operations continues uninterrupted drilling and research activities in nearly 200 licensed and purchased mining sites in order to add to its existing reserves.


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