The Chairman of the SPK has accused me of not being a prudent businessman.

Let me tell you in figure show farthe KozaIpek Group, to which trustees were appointed, has come in ten years; where it was and where itis today, so that it can be understood whether or not there is a company that can match up to it in Turkey or indeed the world when it comes to success and prudence.

Let’s start with Koza Gold.

In 2005, the company had one plant, 180 thousand ouncesof reservesand 600 thousandof resources. Overa period of ten years, the number of plants and the amount of the reserves quadrupled. According to the KAP declaration of the trustees of Koza Gold:

Below,we declare to the investors,the resultsregarding the totalamount ofresources and reserves that our company has as of 31.12.2015,audited by an international company called SRK Consulting USA and laid outin accordancewith the international standards of JORC.

The analysis of the samples that were taken as a result of borehole sampling, as deep as 38,490 metres, and other geological studies carried out in 2015 was completed in the laboratories of an international company, ALS Global.

As of 31.12.2015, oursum of measured, indicatedand inferred resources was calculated at 13.2 million ounces and the reserves were calculated at 4 million ounces.

1) In today’s figures, the gold resources have increased to 17 billion USD, and the 50 percentincrease potential has been approved by the SRK. It has been approved by independent international companies that the amount of gold in the pocket of Koza Gold, which up until today, has been able to turn all the increase potentials into resources, is worth 25 billion USD. And it is true that the cost of an ounce of gold is approximately 525 USD.
2) In 2013, the copper and gold resources of Koza Metal was calculated to beworth 11 billion USD by the SRK.
3) The petrol and the wells that Ipek Energy has discovered is worth approximately 500 million USD.

Based on the latest ratings and circulation figures, Ipek Media is worth approximately 250 million USD.

I am not including my other assets or the hotel that was built as the first of a chain of world class hotels and that consecutively won the prize for the best hotel.

All these companies were builtwithout the use ofany privileges from the government.

In order to be able to accuse a chairman who has built up a group that has 36 billion USD worth of underground resources, has no debt in loans, and has 700 million USD in cash in itscoffers, of being imprudent and unsuccessful, the SPK, which finds examples or peers for everything, has to find an example. I am waiting…

I declared 70 percent of my turnover as profit and paid my taxes. I am going to apologise to the chairman of the SPK if he can find another example like this in Turkey.

Koza is the first and only gold company in Turkey with a 100 percent domestic capital.

It has no equal, noris there anythingremotely similar. Write this as well, my friend…