Reverse takeover: ACG Metals Limited
ACG Metals Limited (ACG) completed its USD $290 million acquisition of Polimetal Madencilik Sanayi ve Ticaret A.Ş. (Polimetal), holder of a 100% interest in the Gediktepe mine from Lidya Madencilik Sanayi ve Ticaret Anonim Şirketi (Lidya), a subsidiary of Çalık Holding (Çalık Holding).
The Gediktepe mine, an open pit mine located in the Balıkesir province of western Turkey, is currently producing gold and silver from existing oxide operations. Following the transaction, ACG intends to complete a sulphide expansion project on the Gediktepe mine which is expected to enable a transition to copper and zinc production from 2026. The transition is targeting annual production of 20,000 - 25,000 tonnes of copper over an initial 11-year mine life.
The transaction marks the first step in ACG’s vision to consolidate the sector through a series of roll-up acquisitions and the beginning of ongoing strategic partnerships with Lidya and Çalık Holding.
Crowe's role and team
Crowe acted as the reporting accountant on the transaction. Our Capital Markets team was led by Mitesh Patelia, supported by Will Smith, Nathan Crawford, Hazel Lucian, James Leyton, and Paddy Milton.
Client quote
"Mitesh and his team at Crowe provided valuable assistance in helping us successfully close our acquisition and re-admission. We are delighted with the outcome and look forward to working closely with Crowe in the future."
Artem Volynets, Chairman and Chief Executive Officer, ACG Metals Limited
