CVK Maden İşletmeleri San. ve Tic. A.Ş. Sarıalan Gold Operation Project is located northeast of Sarıalan village in Altıeylül district of Balıkesir province. With an area of 1,562.84 hectares, the site is planned to include underground and surface open pit mines, administrative buildings, production facility and tailings pond. In 2017, the official obligations have been fulfilled and investments have been started in the field taken over, and it is planned that production will start in 2025 within the scope of the project and production will continue by increasing production over the years. In this context, 10,000 ounces of gold production is targeted for 2025, 20,000 ounces for 2026 and 30,000 ounces for 2027.

Within the scope of the project, the construction of the main campus area, which includes the administration building and staff catering and dormitory buildings, was started in the first phase, and then investments for the construction of the production facility and waste pond were started. Within this framework, the purchase, leasing and expropriation processes of the immovables subject to private property in the licence area have been completed, an agreement has been reached with a company for the construction of a tailings pond, and the application for the application project for the mine waste storage facility and the tailings storage areas has been approved by the relevant institution. In addition, contracts were signed with various companies for the supply of some construction equipment for production activities and some machinery, equipment and consumables required for the production facility.

CVK Maden İşletmeleri San. ve Tic. A.Ş. plans to use 70% of the net proceeds from the public offering of 20% of its shares in April 2023 to finance the production facility within the scope of the project. The Company's application for an investment incentive certificate for the financing of the project has also been approved by the relevant institution.