Good news came from Eskisehir, where work is continuing after the discovery of 3.5 million ounces of gold reserves in the Sogut district of Bilecik and 20 tonnes of gold reserves in Agri. Koza Gold has announced that it has a potential gold source of 20,000 ounces in the Kaymaz district. Turkey’s search for gold continues. In recent years, significant reserves have been identified and work has begun in the mines.
Good news from Eskisehir
After Gubretas’ 3.5 million ounces of gold in Bilecik’s Sogut district in June and Koza Gold’s 20 tonnes of gold in Agri, more good news came from Eskisehir. A potential gold source of approximately 20,000 ounces has been identified at Koza Gold’s Kaymaz plant in the Kaymaz district of Eskisehir.
“Target 16,000 gold productions”
In the company’s statement to KAP, “Approximately 20,000 ounces of potential gold resources have been identified following ore development drilling conducted in 2022 in existing open pit fields at our Kaymaz operation. It aims to produce approximately 16,000 ounces of gold. From this source, the ounce of gold will be produced. In 2022, approximately 500,000 to our company’s turnover. -TL will contribute.
What does 20 thousand ounces mean in golden numbers?
The price of 1 ounce of gold today is 1750 dollars. When we calculate 20,000 ounces of gold, a figure of $35 million emerges. When we convert it to Turkish lira, you have a reserve of about 630 million liras. It is stated that when Koza Gold’s mining costs are reduced, 500 million TL will be contributed to the company’s 2022 revenue.
Koza trades on the gold exchange
Koza Gold has been listed on Borsa Istanbul since 2010. While the company has a capital of 152.5 million liras, the fact that its equity stands at the level of 23.3 billion liras is one of the data showing that the company is solid. 30% of Koza’s gold traded on the Yildiz market is open to the public. Over the past year, the company’s share has increased to 66%.