REG - Chaarat Gold Hlgs Ld - Corporate Update

Chaarat Gold HoldingsAnnouncement

29/09/2023 12:15

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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 Gold Mining Company 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

 Chaarat Gold Holdings Limited                       +44 (0)20 7499 2612
 Mike Fraser (Chief Executive Officer)               IR@chaarat.com (mailto:IR@chaarat.com)

 Canaccord Genuity Limited (NOMAD and Joint Broker)  +44 (0)20 7523 8000
 Henry Fitzgerald-O'Connor
 James Asensio

 Cavendish Capital Markets Limited (Joint Broker)    +44 (0)20 7220 0500
 Neil McDonald

 Panmure Gordon (UK) Limited (Joint Broker)          +44 (0)20 7886 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
(http://www.chaarat.com) (http://www.chaarat.com/) (http://www.chaarat.com) .

 

 

ENDS

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