Company
LON:CGH
Chaarat Gold Holdings Ltd is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The company has a clear strategy to build a leading emerging markets gold company with an initial focus on Central Asia and the Former Soviet Union, through organic growth and selective M&A.
370 stories · page 2 of 19
“These first results of the Kyzyltash metallurgical test work have provided confirmation that the gold is favourably recoverable with various technologies,” said chief executive Mike Fraser
The gold mining company also provided an update on its Tulkubash & Kyzyltash projects in Kyrgyzstan
Chaarat also said it recommenced financing discussions on the Tulkubash project
Chaarat warned in February that the situation around the Kumtor mine had pushed back the debt financing timeline for its Tulkubash project
It hopes to close debt financing for Tulkubash in the second half of this year, although it noted that this was subject to a resolution of Centerra's Kumtor situation
Chaarat also owns the Kapan mine in Armenia, which is already producing gold
The loan notes can be repaid early in cash upon 10 business days' notice
Chaarat is building a big presence in the Central Asian gold scene
Mike Fraser will start the new position on 17 January
It is on track to meet its production guidance for the year
Chaarat owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic
Chaarat is building up a strong track record of production at its Kapan mine
An updated bankable feasibility study and the conclusion of the investment agreement with Çiftay were two key milestones to secure the Tulkubash debt financing
Financing for the project could be affected by current events in country's mining sector
Chaarat said first-quarter production from Kapan, its only operating mine, rose 21% from the year-earlier period
Production was up 21%, while costs were down 4.7%, as the Kapan mine continued to deliver
The new non-executive director, Sandy Stash, has held top leadership positions in both the energy and hard rock mining industries. She is particularly experienced in ESG matters
Hopes to secure project finance for Tulkubash during the first half of 2021
Chaarat is looking to expand the resource at Tulkubash
A snapshot of some of this week's small-cap mining sector stories
