Tovkachevsky Mining and Processing Plant (TMP, Pershotravneve, Zhytomyr region) intends to supply quartzite and crushed stone to WENGA SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA (Poland) for a total of EUR 2 million.
According to the company’s announcement in the NSSMC’s information disclosure system, on September 2 this year, the Supervisory Board of TGOK gave its consent to the Management Board to conduct a significant transaction – the conclusion of a supply agreement between the company and WENGA SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA (Poland).
At the same time, it is specified that the contract is for the supply of the following quartzite products: quartzite TK 97-100 fraction 25-120 mm, 25-100 mm, 25-100 mm, 2 mm; crushed stone fraction 5-10 mm, 5-40 mm, 20-40 mm, 25-60 mm, with a total contract value of EUR 2 million.
“To entrust the Chairman of the Management Board of the company to perform all actions and sign all documents necessary to conclude the above-mentioned agreement for the supply of quartzite products with WENGA SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA (Poland). The market value of the subject of the agreement is EUR 2 million, at the NBU exchange rate as of September 2, 2024, it amounts to UAH 91 million 3.6 thousand,” the company said in a statement.
TGOK is a quartzite mining, processing and beneficiation company. It is the main supplier of raw materials for the production of ferroalloys, refractories and dynamite in Ukraine.
TGOK develops the Tovkachivska area of the Ovruch quartzite deposit located in Pershotravneve village using the open-pit method.
According to the second quarter of 2024, Navaro Development Limited owns 5.1898% of the company’s shares, Lucrino Investments Limited – 9%, Mantara Holdings Limited – 72.0629%, Duxton Holdings Limited (all Cyprus) – 12.1891%.The company’s authorized capital is UAH 1.6 million, the share price is UAH 2.25.
