https://www.engineeringnews.co.za

Chesser looks at selling Turkish gold project

Chesser looks at selling Turkish gold project

Photo by Bloomberg

25th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Chesser Resources is mulling the sale of its Kestanelik gold project, in Turkey, to Turkish company Nurol Holdings for $40-million.

The company has inked a letter of intent to divest of the mining licences, ancillary permits and other assets related to the Kestanelik project.

Chesser told shareholders on Friday that the letter of intent was nonbinding and was subject to the completion of a final due diligence by Nurol and the finalisation of definitive legal agreements, both of which were now well advanced.

In addition, the proposed sale would require Chesser shareholder approval, and would also be conditional upon Nurol receiving routine approval from the Turkish Competition Board.

The Kestanelik project has an indicated resource of 183 000 oz of gold, grading at 3.53 g/t gold and a total resource of 703 000 oz, at 2.15 g/t gold.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.071 0.126s - 156pq - 2rq
Subscribe Now