Chaarat Gold Holdings Ltd Directorate Change (1960V)
December 11 2013 - 2:00AM
UK Regulatory
TIDMCGH
RNS Number : 1960V
Chaarat Gold Holdings Ltd
11 December 2013
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Director appointment
Road Town, Tortola, British Virgin Islands (11 December
2013)
Chaarat (AIM:CGH), the AIM quoted gold exploration and
development company with assets in the Kyrgyz Republic, is pleased
to announce following a Board meeting held on 10 December 2013, the
appointment of Richard Rae as a non-executive director of the
Company with immediate effect.
Richard is an experienced City professional who brings his
contacts and in depth understanding of the equity markets to the
Board of Chaarat which will assist in the Company's engagement and
communication with its shareholders.
As a managing director of ABN AMRO, Richard was responsible for
the team engaged in research, sales and trading of Mid and SmallCap
equities. In this role and before that as Head of UK Smaller
Companies Research & Sales, he managed the liaison with the
corporate broking and financial advisory departments.
He is a non executive director and member of the Audit Committee
of Aberforth Smaller Companies Investment Trust plc, the largest
investment trust within the UK Smaller Company sector.
A Chartered Accountant, Richard will join Chaarat's Audit and
Remuneration Committees.
.
Dekel Golan, CEO of Chaarat, commented:
"I am delighted to welcome Richard to the Board. We understand
the importance of working on our engagement with shareholders and
communicating Chaarat's compelling investment case. Richard's
experience will be invaluable in these efforts.
The appointment of an additional non executive director to our
Board comes at a time when Mac DeGuire is moving into an executive
role as Project Manager of the Definitive Feasibility Study."
Regulatory information
Richard Anthony Rae (aged 54) has confirmed that other than his
current and previous directorships and the information disclosed
below there are no matters to be disclosed under Rule 17 and
paragraph (g) of Schedule 2 of the AIM Rules.
Current directorships
Aberforth Smaller Companies Investment Trust
plc
Company85 Ltd
Directorships resigned in last five years
Mouchel Group plc
ABN AMRO Equities (UK) Ltd
Richard joined the board of Mouchel Group plc in November 2010
following a number of profit warnings, and remained on the board
until September 2012 when the company was restructured and placed
into administration and its business purchased by a buyout company
owned by its lenders.
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
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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