REG - Chaarat Gold Hlgs Ld - Resolution of Kumtor Mine Dispute

Chaarat Gold HoldingsAnnouncement

05/04/2022 07:00

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RNS Number : 2327H  Chaarat Gold Holdings Ltd  05 April 2022

05 April 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Resolution of Dispute between Kyrgyz Republic and Centerra Gold

 

Chaarat Gold (AIM: CGH), the AIM-quoted gold mining Company with an operating
mine in Armenia, and assets at various stages of development in the Kyrgyz
Republic, is pleased to note that the Government of the Kyrgyz Republic and
Centerra Gold Inc. signed an agreement regarding a resolution of the dispute
on the Kumtor Mine in the Kyrgyz Republic on 4th April 2022.

 

 

Mike Fraser, Chief Executive Officer of Chaarat, commented:

"The agreement on the Kumtor dispute is a positive development and we are
confident that a resolution will be beneficial for overall investor sentiment
in the region. As we understand from several financing parties, this was one
of the key preconditions for financing, and we are looking forward to
reengaging with potential financial partners on our Tulkubash project.

 

Our projects in the Chatkal valley are an important value creation opportunity
for the area and its communities. We believe that investments such as ours and
the strong commitment by the Kyrgyz Government towards international investors
will attract further investment to the country. In addition, this will also
allow Chaarat to accelerate development of its Kyzyltash deposit which remains
the Company's main strategic objective in Kyrgyzstan."

 

 

 Enquiries

 Chaarat Gold Holdings Limited                       +44 (0)20 7499 2612
 Patrick Henze (VP Corp Dev & IR)                    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

 finnCap Limited (Joint Broker)                      +44 (0)20 7220 0500
 Christopher Raggett

 Panmure Gordon (UK) Limited (Joint Broker)          +44 (0)20 7886 2500
 John Prior

 Hugh Rich

 

About Chaarat

Chaarat 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 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) .

 

 

ENDS

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