Chesser Resources (ASX:CHZ) has announced it received an offer of $40M for its Kestanelik gold project in northwest Turkey. This is an interesting fact as it looks like the local Turkish companies are re-discovering the mining sector, as the proposal was made by Nurol Holdings, a Turkish industrial conglomerate.

As $40M is worth approximately A$0.19/share, we expect this deal to go through, subject to final due diligence by the acquiring party. A shareholder vote will obviously be required and based on the currently known facts we’d recommend to vote in favor of the sale as this will re-capitalize Chesser Resources.

> Click here to read the press release

Disclosure: The author holds no position in Chesser Resources at this moment. Please see our disclaimer for current positions.

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