News

Giant Discovery in Eskisehir! 20,000 Ounces Of Gold Detected

Good news came from Eskisehir, where the work continues after the discovery of 3.5 million ounces of gold reserves in Bilecik‘s Sogut district and 20 tons of gold reserves in Agri. Koza Gold announced that it has a potential gold source of 20 thousand ounces in Kaymaz district. Turkey’s search for gold continues. In recent years, large reserves have been identified and work has begun in the mines.

Good News From Eskisehir

After Gubretas’s 3.5 million ounce gold reserves in Bilecik’s Sogut district in June and Koza Gold’s 20 tons of gold reserves in Agri, another good news came from Eskisehir. A potential gold source of approximately 20,000 ounces has been identified at Koza Gold’s Kaymaz Factory in the Kaymaz district of Eskisehir.

Gold reserves

“Target 16 Thousand Gold Production”

In the statement made by the company to KAP, “Approximately 20,000 ounces of potential gold resources have been identified as a result of the ore development drillings carried out in 2022 in the existing open pit fields of our Kaymaz operation. It is aimed to produce approximately 16,000 ounces of gold. From this source, ounce of gold will be produced. In 2022, approximately 500,000 to our company’s turnover. -TL will contribute.”

What Do 20 Thousand Ouns Mean in Golden Numbers?

The price of 1 ounce of gold today is 1750 dollars. When we calculate 20 thousand ounces of gold, a figure of 35 million dollars emerges. When we convert it to Turkish Lira, you have a reserve of around 630 million liras. It is stated that when the mining costs of Koza Gold are reduced, 500 million TL will be contributed to the 2022 turnover of the company.

Gold reserves

Koza Trading On The Gold Exchange

Koza Gold has been traded on Borsa Istanbul since 2010. While the company has a capital of 152.5 million liras, the fact that its equity capital is at the level of 23.3 billion liras is one of the data showing that the company is strong. 30 percent of Koza Gold traded in Yildiz Market is open to the public. In the last year, the company’s share has increased by 66 percent.

Gül Demirci

Hello, I am Gul, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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