BASS Gold LLP announces acquisition of Shynasyl-sai deposit

09.10.23 16:23
/KASE, October 9, 2023/ – BASS Gold LLP (Ulytau region, former name – Forpost LLP), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated October 9, 2023: quote Hereby, BASS Gold LLP (hereinafter – the Partnership) informs you that on October 9, 2023, contracts for the sale and purchase of the 100 % stake in the authorized capital of Block One Company LLP were concluded. Thus, the Partnership acquired the Shynasyl-sai deposit in Almaty region, the gold reserves of which are preliminary 7 tons. As a result of this transaction, the total gold reserves of the group of companies increased to 10 tons, with the possibility of increasing them after the completion of the necessary geological exploration work. In addition to gold, the Shynasyl- sai deposit also contains reserves of silver, zinc, and cadmium. The acquisition of a new deposit meets the company's plans to expand the raw material base to further increase production volumes of higher value-added products. In order to process the entire volume of mined ore at the Shynasyl-sai deposit, it is planned to build a flotation concentrate production plant with a capacity of 300 thousand tons of ore per year. Thus, the total expected volume of the company's processing capacity, taking into account the factory at the Ushshoqy deposit, will be 372 thousand tons of ore per year with the production of final products, also in the form of Dore alloy. The launch of the factory at the new field is scheduled for the second half of 2024. unquote The complete press release is available on – [2023-10-09]