Rising Metal Mining Projects in Turkey

1. Selim Kalendar
June 2017
Investment
Strategy
Prepared
by

3. Disclaimer
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towards
persons
in
the
mining
sector.
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subject
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Turkish
Law.

4. Mining starts from ?
Does the Gold belong to this planet ? • Eternity
• Ankara Museum of
Anatolian Civilizations

7. 1.
CODELCO
Chilean
state-­‐owned
miner
Codelco
holds
first
place
worldwide
in
terms
of
aAributable
copper
mine
output
with
preliminary
es,mates
of
1,827
kt
of
copper
produced
in
2016,
including
Codelco’s
stake
in
Minera
el
Abra
and
Anglo
American
Sur
S.A,
–
an
approximate
3%
decline
on
2015
(1,891
kt).This
drop
was
mainly
due
to
lower
produc,on
coming
from
El
Abra,
Anglo
American
Sur
and
Andina
division,
par,ally
offset
by
higher
produc,on
in
Salvador,
El
Teniente
and
Radomiro
Tomic
divisions.
During
2016,
Codelco’s
cash
cost
was
$1.26
per
pound,
compared
to
$1.39
per
pound
in
2015.
A
decrease
of
9%
primarily
aAributable
to
lower
opera,onal
costs
and
favourable
exchange
rate
movements.
2.
FREEPORT
Headquartered
in
Phoenix,
Ariz.,
Freeport-­‐McMoRan
Copper
&
Gold
Inc.
ranks
second
in
global
copper
compe,,on.
It
produced
about
1,696
kt
of
copper
in
2016
(based
on
net
equity
ownership,
including
discon,nued
opera,ons),
or
about
12%
higher
compared
to
2015
(1,514
kt).
This
significant
growth
was
achieved
because
of
the
Cerro
Verde
expansion
project
that
achieved
capacity
opera,ng
rates
during
first-­‐quarter
2016,
as
well
as
copper
produc,on
increase
at
Grasberg
opera,ons
currently
mining
the
final
phase
of
the
Grasberg
open
pit,
which
contains
high
copper
and
gold
ore
grades.
Consolidated
average
unit
net
cash
costs
(net
of
by-­‐product
credits)
for
FCX’s
copper
mines
(including
Tenke)
of
$1.26
per
pound
of
copper
in
2016
were
18%
lower
than
unit
net
cash
costs
of
$1.53
per
pound
in
2015,
primarily
reflec,ng
higher
by-­‐product
credits
and
higher
sales
volumes
from
Cerro
Verde
and
Grasberg.
3.
GLENCORE
In
third
place,
Swiss-­‐based
Glencore
Interna,onal
plc
with
copper
produc,on
from
its
own
sources
of
~1,288
kt
(approximate
number;
efforts
were
made
to
calculate
aAributable
Glencore’s
total
mined
copper
originated
from
Copper,
Zinc
and
Nickel
Opera,ng
Divisions,
but
due
to
a
complex
nature
of
the
company’s
assets,
the
exact
figure
might
be
slightly
different),
which
is
2%
lower
than
in
2015
(~1,311
kt),
reflec,ng
the
produc,on
suspensions
at
African
Copper,
partly
offset
by
improved
grades
and
volumes
at
the
South
American
assets.
Glencore’s
copper
unit
produc,on
costs
were
$0.87
per
pound
in
2016.

9. 1.
Barrick
Gold
With
5.52
Moz
of
gold
produced
in
2016,
Canada's
Barrick
Gold
Corp.
(TSE:ABX)
holds
first
place
in
global
ranking,
well
ahead
of
its
compe,tors.
Compared
to
2015's
6.12
Moz,
Barrick’s
gold
output
dropped
by
9%,
mainly
because
of
the
Toronto-­‐based
company's
asset
sales
including
the
Bald
and
Round
Mountain
mines
in
January
2016
to
number
5
on
the
list
Kinross
Gold.
Barrick
also
reduced
its
equity
interests
in
the
Porgera
mine
in
Papua
New
Guinea
in
the
third
quarter
2015.
Barrick's
focus
on
cost-­‐cupng
and
restructuring
of
its
porqolio
paid
off
in
a
big
way
–
the
company
managed
to
reduce
its
all-­‐in
sustaining
costs
(AISC)
by
12%,
from
$831
in
2015
to
$730
in
2016.
2.
Newmont
Mining
US-­‐based
Newmont
Mining
Corpora,on
(NYSE:NEM)
stays
at
number
two,
but
closed
the
gap
substan,ally
producing
4.9
Moz
of
the
precious
metal
in
2016,
6%
more
than
in
2015
(4.6
Moz).
T
his
growth
was
supported
by
new
produc,on
from
Merian
and
Long
Canyon;
a
full
year
of
produc,on
at
Cripple
Creek
&
Victor
and
Carlin’s
Turf
Vent
Shat;
and
produc,vity
improvements
at
Kalgoorlie.
These
ounces
offset
the
impacs
of
declining
produc,on
at
Yanacocha
and
geotechnical
issues
at
Carlin.
The
Denver-­‐based
company
reduced
its
all-­‐in
sustaining
costs
(AISC)
by
2%,
from
$933
in
2015
to
$912
in
2016.

10. By countries

18. True
Stories
• High
Grade
Gold
-­‐
Aggregates
• Marble
Quarry
• Manganese
Mining
Mining
Law
&
LegislaEon
• Ministry
of
Energy
&
Natural
Resources
• Energy
&
Mining
towards
2023
• Coal
/
Marble
• Venezuela
vs.
Japan
True
Mining
Culture
• Long
Journey
• Explora,on
/
Development
–
EPC
/
Produc,on
• Australian-­‐JORC
/
Canadian
NI43101….QP’s
• Project
Financing
• Metal
Prices
/
Loss
on
Profit

19. FOREIGN DOMESTIC POTENTIAL
ALACER CENGİZ NUROL
ELDORADO ÇALIK GÜRİŞ
KOZA (State Held)
???

20. Project Owner Project Region Project Location
1 ALDRIDGE(MINERALS Central Yozgat
2 KOZA(GOLD Central Kayseri=Yozgat
3 CENTERRA*GOLD Central Kayseri
4 PILOT(GOLD(=(TECK West Çanakkale
5 PILOT(GOLD(=(TECK West Çanakkale
6 TECK(RESOURCES West Balıkesir
7 ALAMOS(GOLD West Çanakkale
8 ALAMOS(GOLD West Çanakkale
9 KOZA*GOLD West XX
10 LİDYA(=(ALACER(GOLD West Balıkesir
11 LİDYA*E*MARIANA North Artvin
12 KOZA(GOLD East Ağrı
3
projects
held
by
TMSF
3
projects
in
CENTRAL
Region
7
projects
in
WEST
Region
1
project
in
NORTH
Region
1
project
in
EAST
Region

21. YOZGAT
/
Yenipazar
-­‐
1

22. KAYSERİ
/
Öksüt
-­‐
3

23. ÇANAKKALE
/
Halilağa
-­‐
4

24. ÇANAKKALE
/
TV
Tower
(Küçükdağ)
-­‐
5

25. BALIKESİR
/
Demir
-­‐
6

26. ÇANAKKALE
/
Kirazlı
-­‐
7

27. ÇANAKKALE
/
Ağı
Dağı
-­‐
8

28. BALIKESİR
/
Gediktepe
-­‐
10

29. ARTVİN
/
Hot
Maden
-­‐
11

30. KOZA Altın İşletmeleri A.Ş.
12
2
9

31. 12
2
9

32. Project Owner Project Region Project Location
1 ALDRIDGE(MINERALS Central Yozgat Yenipazar Gold:Silver:Copper:Lead:Zinc 2,300,000 Oz(of(Au(Eq
2 KOZA(GOLD Central Kayseri:Yozgat Himmetdede Gold 500,000 Oz(Au
3 CENTERRA*GOLD Central Kayseri Develi*:*Öksüt Gold 1,200,000 Oz*Au 2
Sub:Total 4,000,000 Oz(of(Au(Eq
4 PILOT(GOLD(:(TECK West Çanakkale Halilağa Copper:Gold 2,500,000 Oz(of(Au(Eq
5 PILOT(GOLD(:(TECK West Çanakkale Küçükdağ Silver:Gold 470,000 Oz(of(Au(Eq
6 TECK(RESOURCES West Balıkesir Demir Gold 800,000 Oz(Au
7 ALAMOS(GOLD West Çanakkale Kirazlı Gold 665,000 Oz(Au
8 ALAMOS(GOLD West Çanakkale Ağı(Dağı Gold 1,166,000 Oz(Au
9 KOZA*GOLD West XX XX Gold 1,000,000 Oz*Au 1
10 LİDYA(:(ALACER(GOLD West Balıkesir Gediktepe Gold:Silver:Copper:Lead:Zinc 1,800,000 Oz(of(Au(Eq
Sub:Total 8,401,000 Oz(of(Au(Eq
11 LİDYA*:*MARIANA North Artvin Hot*Maden Copper:Gold 3,500,000 Oz*of*Au*Eq 3
12 KOZA(GOLD East Ağrı Diyadin Copper:Gold Inferred:(over(3.0M Oz(of(Au(Eq
Resource -ReserveProject Name

33. • Establishing
a
Holding
Mining
Company
stock-­‐listed
in
TSX,
ASX
or
LME
HOLDING
Company
1.
WEST
Region
2.
NORTH
Region
3.
CENTRAL
Region
4.
EAST
Region
5.
SOUTH
Region
In order to be
more resilient
against
financial
fluctuations &
local conditions

34. ???

35. • Workings
towards
mee,ng
Country’s
2023
target
(100th
anniversary
of
Turkish
Republic)
• Workings
towards
mee,ng
Country’s
2071
target
(1000th
anniversary;
2071
-­‐
1071)