Solidcore Resources plc has entered into a strategic partnership with Bai Tau Minerals (“BTM”), a Kazakhstan-based junior exploration company, by extending a US$96 million investment loan. This collaboration aims to accelerate the development of BTM’s portfolio of copper and gold projects in Kazakhstan, a region with significant untapped resource potential.
“BTM is a team of experienced geology professionals working towards unlocking Kazakhstan’s significant copper resource potential. Our agreement represents an efficient, industry-recognized financing mechanism, enabling our partner to accelerate the resource assessment. In turn, it provides us with strategic risk-adjusted access to valuable green metals resources and BTM’s mineral exploration expertise,” said Vitaly Nesis, Group CEO of Solidcore Resources plc.
BTM’s extensive portfolio spans over 15 copper-porphyry and gold projects, covering more than 1,000 square kilometers. Among its assets, Besshoky in the Karaganda region and East Balkhash-2 in the Jetisu region are at the most advanced stages, demonstrating significant resource potential.
The US$96 million loan, secured by a pledge of interest in BTM and its subsidiaries, will fund exploration activities. The three-year loan term provides Solidcore with comprehensive access to BTM’s financial and technical data, enabling accurate project valuation and informed decisions on potential future investments.
As part of the agreement, Solidcore has secured a right-of-first-refusal (ROFR) on transactions involving ownership interests in BTM or its subsidiaries funded by the loan. This provision grants Solidcore strategic exclusivity on key assets.
The partnership underscores Solidcore’s strategic focus on green metals and the discovery of potentially large copper resources, offering significant upside potential while minimizing downside risk.
