AI-generated summary
Turkish Gold Enterprises transferred all shares of Sındırgı Mining Enterprises to expand its mining activities. The price, which was estimated to be 69.9 million dollars before the transaction, was finalized at 65.5 million dollars, including VAT and taxes.
Türk Altın İşletmeleri A.Ş. notified KAP that it has taken over all the shares representing the capital of Sındırgı Maden İşletmeleri A.Ş.
According to the statement, the transaction was completed for 65.5 million dollars in cash, including VAT and taxes.
The full statement made to KAP is as follows:
In the special situation statement made on 25.06.2026 by our company's Board of Directors decision dated 04.05.2026 and numbered 2026/87; A total of six IV buildings located in Balıkesir and Bilecik provinces. It was announced to the public that a Memorandum of Understanding was signed for the purchase of the ore processing facility operating in Sındırgı district of Balıkesir province, with a group operating license, for a price of US$ 69,900,000.
As a result of the legal, financial, technical and operational investigations and valuation studies carried out within the scope of the transaction in question, it was decided that it would be appropriate to carry out the transaction by taking over all the shares of Sındırgı Maden İşletmeleri A.Ş., which contains the assets in question, instead of directly purchasing the mining licenses, facility and related real estate.
As a result of the negotiations carried out taking into account the valuation studies and legal, financial, technical and operational reviews, the transaction price, which was previously estimated as 69,900,000 USD, was finalized as 65,500,000 USD in total, including VAT and taxes.
In this context, in line with the decision of our Company's Board of Directors dated 10.09.2026, all shares representing the capital of Sındırgı Maden İşletmeleri A.Ş. amounting to 996,901,887 TL; Share Transfer and Purchase Agreement regarding the acquisition from shareholders Özaltın İnşaat Ticaret ve Sanayi A.Ş., Muzaffer Özdemir and Proje A İnşaat Mühendislik Müteahhitlik Mimarlık Proje Danışmanlık Ticaret A.Ş. was signed on 10.09.2026.
Within the scope of the Share Transfer and Purchase Agreement, the share transfer transactions were completed on 10.09.2026, and all of the shares representing the capital of Sındırgı Maden İşletmeleri A.Ş. were taken over by our Company. Thus, Sındırgı Maden İşletmeleri A.Ş. Mining activities and assets related to them are under the control of our Company.
Assets acquired within the scope of the contract; It includes a total of six mining licenses and 108 immovable properties, as well as ore processing facilities, waste storage facilities, machinery and equipment, installations, fixtures and other movable and immovable business assets used in mining activities.
In addition, according to UMREK reports regarding the mineral assets acquired within the scope of the transaction, the total reserve is estimated to be approximately 76,049 ounces of gold and 1.8 million ounces of silver. When evaluated together with the reserve potential in question and the acquired operating infrastructure, the transaction is expected to make a significant contribution to the development of our Company's mining activities and asset portfolio.
We present it for the information of our investors.
AI outlook — possibilities, not facts
Turkish Gold Enterprises will start production in the acquired mining facilities in the first half of 2027.
Possible · Within months

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