Chaarat Gold Holdings Ltd Holding(s) in Company (6885Q)
October 16 2013 - 10:45AM
UK Regulatory
TIDMCGH
RNS Number : 6885Q
Chaarat Gold Holdings Ltd
16 October 2013
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Holding in Company
Road Town, Tortola, British Virgin Islands (16(th) October
2013)
Chaarat (AIM - CGH), the AIM quoted exploration and development
company with assets in the Kyrgyz Republic, was informed on 15(th)
October that the Wilshire - Fasanara Credit Strategies SP Fund
holds 20,666,341 ordinary shares of US$0.01 each, representing
8.25% of the issued share capital of the Company.
Enquiries:
+ 44 23 800 11747/+ 44 20 7499
Chaarat Gold Holdings Limited 2612
c/o Central Asia Services Limited info@chaarat.com
Dekel Golan CEO
Linda Naylor FD
Numis Securities Limited +44 (0) 20 7260 1000
John Prior, Stuart Skinner (NOMAD)
James Black (Broker)
Further information is available at www.chaarat.com
NOTES TO EDITORS:
About Chaarat Gold
Chaarat Gold is an exploration and development company operating
in the Kyrgyz Republic with a large, high grade resource which is
capable of generating low cost gold production - the Chaarat Gold
Project. Situated in the highly prospective Tien Shan gold belt, a
JORC compliant resource of 5.76Moz at a grade of 4.03g/t has so far
been delineated and recent infill drilling shows the potential to
increase the resource base. The Company's key objective is to
become a low cost gold producer targeting annual production of
200,000 ounces from the development of the Chaarat Gold
Project.
The Pre-feasibility Study published in 2011 indicated that the
Chaarat deposit is capable of supporting gold production of
approximately 200,000 ounces of gold per year, at a cash cost of
production below $600 per ounce. The study also identified areas
which could be improved with further work.
We are fully funded to complete a Definitive Feasibility Study
(DFS) and continue our active community engagement programme to
optimise the value of the Chaarat investment proposition.
Chaarat has several other promising prospects also located
within the Kyrgyz Republic. An exploration programme is underway at
the Company's Chontash molybdenum-copper-gold-porphyry project,
located in the Akshirak range of mountains. A mining licence has
been obtained for the Mironovskoye polymetallic asset, located
about 120km east of Bishkek.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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