Solidcore Resources plc (“Solidcore” or the “Company”) is pleased to announce that the Company has signed an indicative term sheet with KfW IPEX-Bank for a seven-year credit facility of up to US$ 100 million to finance construction of the Ertis POX project including infrastructure, equipment and engineering costs.
“Our partnership with KfW IPEX-Bank to finance Ertis POX construction marks an important milestone for Solidcore. This term sheet is the first arrangement within the broader funding framework for the project which reflects the strong confidence of our international financial partners in our strategy and long-term vision. We continue working with other banks to secure a total of US$ 600 mln of financing for Ertis POX this year”, said Evgenia Onuschenko, CFO of Solidcore Resources plc.
“We are delighted to have been invited to contribute to the financing of this important project and thus to be able to supporting European exports.”, said Wolfgang Behler, Global Head of Industries and Commerce at KfW IPEX-Bank.About Ertis POX
Ertis POX is Kazakhstan’s first large-scale and high-tech full-cycle pressure oxidation plant for refractory ore processing in the country. Capital expenditures for the project are estimated at US$ 978 million and will be funded through a combination of the Company’s operating cash flow and bank financing. New POX facility will process up to 300,000 tons of gold-bearing concentrate and produce up to 500 Koz of gold in dore alloy per year. It is intended to create approximately 500 permanent new jobs in the region and 1,000 jobs during the construction period.
About KfW IPEX-Bank
KfW IPEX-Bank is a leading German and international project and export finance bank, founded in 2008 as a wholly owned subsidiary of the state-owned KfW Group. With a strong European foundation and a global presence, it supports European and global companies in key sectors including infrastructure, energy, transport, and industrial projects. The bank provides tailored financing solutions, backed by deep sector expertise and a clear focus on sustainability and responsible financing.
About Solidcore
Solidcore Resources is a leading gold producer registered in AIFC, Kazakhstan, and listed on Astana International Exchange. Solidcore operates two producing gold mines and a major growth project (Ertis POX) in Kazakhstan.
Enquiries
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Kirill KuznetsovAlina Assanova+7 7172 47 66 55 (Kazakhstan)ir@solidcore-resources.com
Yerkin Uderbay+7 7172 47 66 55 (Kazakhstan)media@solidcore-resources.kz
FORWARD-LOOKING STATEMENTS
This release may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “could” or “should” or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company’s control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company’s actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
