Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, was notified on 7 December that on that day Linda Naylor, the Finance Director of the Company, purchased an aggregate of 100,000 ordinary shares of US$0.01 each ("Share(s)") in the Company at a price of 19.75p per Share. Following this purchase, Linda Naylor has a beneficial interest in 728,000 Shares representing approximately 0.29% of Chaarat's issued share capital.
Political issues have definitely held this stock back, and have been a cause of recent downwards pressure on the stock, however, I think those in power realise the importance of the mining industry to their economy. New taxes come into force from Jan 1, which although at higher levels, one would hope would offer some greater stability from the civil unrest. http://eng.24.kg/business/2012/12/07/26837.htmlwww.eng.24.kg has a number of related articles for anyone that hasn't seen it.
All 37 holes drilled hit mineralisation with best twelve results in a range from 16.24m at 2.10 g/t gold to 8.75m at 11.08 g/t Au and 17.49m at 8.36 g/t Au.
Dekel Golan, Chaarat's chief executive, said: "These results confirm the potential substantially to increase the size of the open pit at Tulkubash and more than double initial plant throughput to 2,500tpd.
“This was first identified on the basis of the 2011 drilling results. These results also endorse an increase in strike length of the deposit and would allow us to reduce the strip ratio during the early years of operation.
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