Chaarat Gold Holdings Ltd (AIM:CGH) dropped a further 10% as it said its current cash balance is US$400,000, which will keep it going until at least 16 August 2024 when it is expected to delist from AIM.
Asset Match has been appointed to facilitate secondary trading of its shares if shareholders approve its delisting from AIM
Further drawdowns on a US$5 million facility are expected to be made available following cancellation, said the miner, adding if the recapitalisation proposals are not approved it will immediately instigate insolvency proceedings.
Asset Match’s facility will allow existing shareholders and new investors to trade ordinary shares by matching buyers and sellers through periodic auctions.
Shares in Chaarat, which will trade on AIM up until 15 August, fell 0.03p to 0.18p