Forpost announces the planned purchase of Chinasyl-sai deposit

12.09.23 17:56
/KASE, September 12, 2023/ – Forpost LLP (Ulytau region), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated September 12, 2023: quote Hereby Forpost LLP (hereinafter – the Partnership) informs you that on September 12, 2023, preliminary purchase and sale contracts were concluded for the 100 % stake in the authorized capital of Block One Company LLP, which owns the Chinasyl-sai deposit in Almaty region. The main purchase and sale contracts will be signed after the authorized body issues permission to transfer the subsoil use right and (or) objects related to the subsoil use right. The acquisition of the Chinasyl-sai deposit corresponds to the Partnership's plans to increase the volume of production and processing of solid minerals. This transaction will allow increasing the Partnership's gold reserves by an additional amount of about 7 tons. As part of the company's strategy for the transition from operations for the sale of raw materials to products of higher processing, the Partnership plans to send the entire volume of mined ore for processing. In this connection, it is planned to build a flotation concentrate processing plant at the Chinasyl-sai deposit with a production capacity of 300 thousand tons of ore per year to produce marketable lead and zinc concentrate containing gold, silver and cadmium. unquote The complete press release is available on – [2023-09-12]