Solidcore Resources plc entered into a binding agreement to acquire Tokhtar gold property in northern Kazakhstan on March 11, 2025. Solidcore will initially acquire a 51% interest in the Project for the total cash consideration of approximately $25 million. An additional 23% will be acquired following the KazRC -compliant reserve estimate for the Tokhtar and the South Tokhtar areas at a price based on the estimate results, with the remaining 26% to be acquired following the KazRC-compliant reserve estimate for the Barambay area at a price based on the estimate results.
In addition, the sellers will receive a deferred variable consideration linked to the future metal processing volumes. Completion of each stage of the transaction will be subject to obtaining the required regulatory approvals, with the acquisition of the initial 51% interest expected to be completed in Q3 2025.
