Chaarat Gold Holdings Ltd Corporate Update (1975O)
September 29 2023 - 6:01AM
UK Regulatory
TIDMCGH
RNS Number : 1975O
Chaarat Gold Holdings Ltd
29 September 2023
29 September 2023
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Corporate update
Chaarat Gold (AIM: CGH), the AIM-quoted exploration and
development company with assets at various stages of development in
the Kyrgyz Republic, is pleased to confirm that the sale by Chaarat
Gold International Limited of its Armenian subsidiary, Chaarat
Kapan CJSC ("Kapan") , which owns the Kapan mining operation in
Armenia , to G old M ining C ompany LLC (the "Buyer") is
approaching completion .
The documentation required in order to effect the transfer of
the shares in Kapan to the Buyer was submitted to the Central
Depository of Armenia earlier this week. As soon as the Central
Depositary has registered the share transfer, formal completion of
the sale can take place. It is anticipated that completion will be
achieved within one week. A further announcement will be made once
completion has taken place.
As noted in the Company's interim results announcement, working
capital facilities totalling US$4.4 million (including interest and
arrangement fees) fall due for repayment by the Company on 30
September 2023. The provider of those facilities has agreed in
principle to a short extension whilst new working capital
facilities are put in place. A further announcement will be made in
due course.
Enquiries
+44 (0)20 7499
Chaarat Gold Holdings Limited 2612
Mike Fraser (Chief Executive Officer) IR@chaarat.com
Canaccord Genuity Limited (NOMAD and + 44 (0)20 7523
Joint Broker) 8000
Henry Fitzgerald-O'Connor
James Asensio
Cavendish Capital Markets Limited (Joint +44 (0)20 7220
Broker) 0500
Neil McDonald
Panmure Gordon (UK) Limited (Joint + 44 (0)20 7886
Broker) 2500
John Prior
Hugh Rich
About Chaarat
Chaarat is an exploration and development company which owns the
Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic. The
Company has a clear strategy to build a leading emerging markets
gold company through organic growth and selective M&A.
Chaarat aims to create value for its shareholders, employees and
communities from its high-quality gold and mineral deposits by
building relationships based on trust and operating to the best
environmental, social and employment standards. Further information
is available at www.chaarat.com .
ENDS
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END
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