General Manager of Tarım Kredi Kooperatifleri and Chairman of Gübretaş Maden Yatırımları Board of Directors, inspected the Söğüt Gold Mine site together with Gübretaş Maden Yatırımları General Manager Mr. Halit Semih DEMİRCAN and company managers.

Before the mine site inspections, Mr. Halit Semih DEMİRCAN, General Manager of Gübretaş Maden Yatırımları, made a detailed presentation to the press members about the 1st, 2nd and 3rd phase works in Akbaştepe and Korudanlık regions. DEMİRCAN said, “We aim to complete the first phase of the investment in 2022.” He stated that the business will reach full capacity in 2024.

“WE AIM TO REALIZE GOLD PRODUCTION BY THE END OF 2022”

POYRAZ and DEMIRCAN and their business managers inspected the mine site. Making a statement to the press on the field, Gübretaş Maden Yatırımları A.Ş. General Manager Mr. Halit Semih DEMIRCAN said, “We aim to realize gold production by the end of 2022.” said:

“Where we are currently located is the region where the Akbaştepe and Korudanlık mining areas are located in our Söğüt Gold Mine project. This area is where the ore enrichment facilities and mining operation area will be located. After completing our EIA positive certificate and other permit processes for our project in question in a short time, we aim to start facility construction activities and realize gold production by the end of 2022. “Our teams carry out engineering and equipment supply works quickly.”

“SÖĞÜT GOLD MINE WILL BE AN IMPORTANT LEVERAGER FOR US IN THE NEXT PERIOD”

Gübretaş Maden Yatırımları A.Ş Chairman of the Board of Directors, Mr. Fahrettin Poyraz, said that the work will accelerate after the approval of the EIA report, and added: "We want to cast our first gold bar, which will be produced here by the end of 2022, and bring it to the Turkish economy." said.

POYRAZ said: “We are currently in the Gübretaş Maden Yatırımları gold mine license area. We are doing several works at the same time here. As stated, project planning studies were carried out and completed. Hopefully, we will accelerate our work after the EIA report is approved in the next few weeks. As you know, last week, an urgent expropriation decision was issued with the signature of our President, and the process of transferring the ownership of the lands here to the Treasury has begun. After completing these within a few weeks, we estimate that we will quickly start our work on both mining and facility installation here within the next month. Our goal is to carry out mineral processing work while continuing the installation of the facility. In the installation of this facility, which we have divided into three phases, some of the machinery and equipment orders for the first phase have already been given. Hopefully, all the machinery and equipment for the first phase will arrive around the new year and construction activities will begin. After completing the installation of the first phase facility in 2022, we will carry out the mineral processing works and by the end of 2022. “We want to cast our first gold bar and bring it to the Turkish economy.”