POINT ROBERTS, WA--(Marketwire - Jul 12, 2011) - www.Investorideas.com, a leader in sector research, including mining and resource stocks, issues a Q&A interview with TurkPower Corporation (
Interview:
Q: Investorideas.com
Ryan can you give investors insight as to the significance of the recent acquisition?
A: Ryan E. Hart. Executive Chairman TurkPower Corporation (
With the purchase of controlling interest in the operational Kuluncak iron ore mine, TurkPower is taking its first step toward its goal of becoming a leading junior mining company in Turkey. The purchase adds a tangible and operational asset to the Company's balance sheet and leads to expected profitability in 2011. It also gives the Company leverage and credibility for future mining ventures and acquisitions in the booming mining industry of Turkey
Q: Investorideas.com
Can you give investors an overview of the mining industry in Turkey in present markets and the company's strategy to be a key player?
A: Ryan E. Hart. Executive Chairman TurkPower Corporation (
Turkey is an important player in the international minerals market due to its wealth of reserves, considerable production capacity and geographical advantages for transportation and shipping. Ranking 28th in global mining production, Turkey also ranks 10th by variety of mines and minerals. Much of Turkey's mineral production is from a large number of small mines.
There are 38,320 licensed mines in Turkey and 7,220 of the mines are in operation. Although Turkey has a very wide variety of minerals, the mineral wealth has only been partially explored and known reserves have been developed to a limited extent. Today, the main strategy of the Turkish mining industry is to encourage exploration and exploitation activities in the sector. A very business and investment friendly legal framework is in place since 1985.
TurkPower just took the first major step to secure the majority in the operational Kuluncak iron ore mine in the past weeks. The Company intends to use this producing mine as a stepping stone to a) develop it's other credits and licenses, and b) to purchase other base metal mining properties that are in production or near production. As mentioned earlier, only approximately 20% of all licensed mines in Turkey are in operation, resulting in huge opportunities for a junior mining company like TurkPower.
Q: Investorideas.com
There are some bullish outlooks for the iron ore industry -- as management of a company within the sector what are you seeing?
A: Ryan E. Hart. Executive Chairman TurkPower Corporation (
The general outlook for the market is very bullish, and powerhouses like Vale as well as banks as Barclay's Capital Markets expect Iron Ore to constantly trade above $100 in the coming 5 years, and increased their forecast from $140 to $160 per ton of 62% grade Iron Ore for 2012. We share that outlook and feel very comfortable with our operations, specially considering our low extraction cost of $22 - 23 per metric ton of 62% Iron Ore.
Q: Investorideas.com
Ryan what can investors expect to see next in terms of moving forward with this new mining property?
A: Ryan E. Hart. Executive Chairman TurkPower Corporation (
In the coming three months the Company's main focus is to ramp up operations, start the beneficiation process and start selling and shipping product. The second step is to define and develop the strategy for the exploitation of the Zinc credits in the Kuluncak deposit, as well as for the other mining licenses the Company owns and will report about in the coming weeks.
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