GUBRETAS Made a Statement on Gold

GUBRETAS Made a Statement on Gold GUBRETAS made a statement on the gold. The company reported that there were no costs included in the $ 6 billion value. GÜBRETAŞ reported last week that a new gold source was found in its mine site. In order to answer questions about the gold presence in the Söğüt mine site, the company has released an information statement. GÜBRETAŞ said that costs are not included in the gold value calculated of 6 billion dollars. In the statement made to the Public Disclosure Platform, the company stated that the value of 6 billion dollars is the gross value of the relevant resource at current prices and does not include ore extraction cost, financing cost, investment costs, labor cost and similar cost items. In the statement, it was noted that it was aimed to extract the first gold in two years, convert the said asset into value, complete technical studies and necessary official procedures, and begin the investment process. Reminding that there are approximately 3.5 million ounces of resources in the Söğüt mine field, GÜBRETAŞ announced that 1 million 920 thousand ounces of this will turn into gold reserves ready to be extracted, and 1.6 million ounces will turn into reserves at the rate of 83 percent. Stating that there may be 3.2 million ounces of gold in the Söğüt gold mine, the company emphasized that this corresponds to a value of approximately 6 billion dollars at current prices. The shares of the company, which will extract the gold by its own means, were among the highest shares immediately after the announcement of the mine. The weekly earning of the company stock was 20 percent, while its monthly earning was 10 percent last week, when the announcement was made.