Corporate Update

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	[phone]
Mike Fraser (Chief Executive Officer)	[e-mail]
Canaccord Genuity Limited (NOMAD and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor
James Asensio
Cavendish Capital Markets Limited (Joint Broker)	[phone]
Neil McDonald
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
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

 

END