Regarding the Winning of the Tender for the Kepsut Gold Local Field Conducted by General Directorate of Eti Maden Operations by Our Company
Our company, CVK Maden İşletmeleri San. ve Tic. A.Ş., participated in the tender conducted today (25.06.2025) by the General Directorate of Eti Maden Operations (Eti Maden) regarding the exploration and operation against royalty (royalty-based operation) of the Kepsut gold local field (1,918.44 hectares), situated within the Group IV operating licensed mining site numbered 6406 in Balıkesir province under the tenure of Eti Maden. Our company won the tender by offering the highest royalty rate (55.6%) in the auction round.
Within the scope of the information included in the tender specifications, as a result of exploration activities conducted in a portion of the Kepsut gold local field within the Group IV operating licensed mining site numbered 6406:
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2,089,719 tonnes with an average grade of 1.67 g/tonne Au (proven+probable+possible) in the area of the Kobartkaşı Gold (Au) anomaly based on drilling data,
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788,895 tonnes with an average grade of 0.81 g/tonne Au (proven+probable+possible) in the area of the Isırcayolu Gediği Sb anomaly,
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427,000 tonnes with an average grade of 1.11 g/tonne Au (proven+probable+possible) within dacites in the area of drill holes BKS-16 and BKS-17,
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247,980 tonnes with an average grade of 3.65 g/tonne Au (proven+probable+possible) in the area of the Ardıçdede Au anomaly,
totaling a reserve calculation of 3,553,594 tonnes with an average grade of 1.55 g/tonne Au (proven+probable+possible) for the entire field. (The equivalent of 177,000 ounces as of June 25, 2025, amounts to approximately 587,640,000 USD).
Statement by Chairman of the Board Hüseyin Çevik
CVK Mining Chairman of the Board Mr. Hüseyin ÇEVİK expressed the following in his evaluation regarding the tender result:
"This cooperation established with Eti Maden—one of our country's distinguished institutions founded upon the directive of Gazi Mustafa Kemal Atatürk following the proclamation of our Republic to operate and utilize our nation's underground resources—represents a highly valuable step toward the investment plans and growth targets set by our team. I wish the outcome of the tender to be beneficial for both institutions. Empowered by our Republic and supported by our valuable stakeholders, we are advancing resolutely toward becoming the leader in the sector."
Respectfully announced to the public.
Sincerely,