RE: Coeur Gold Holdings Ltd20 Jan 2020 21:05
Azatek Gold Mine
The mine is located in Armenia’s Vayots Dzor Province. The Ministry of Energy Infrastructures and Natural Resources issued an operator’s permit, expiring in 2037, to Vayk Gold LLC in 2012.
Former Armenian Minister of Nature Protection (2001-2007) and Republican Party of Armenia MP Vardan Ayvazyan is the driving force behind the mine. Ayvazyan was reelected to the parliament in May 2012. He founded Vayk Gold LLC one month later and owned shares in the company for another six months. It was in November of 2012 that the company was issued an operator’s license for the mine. Ayvazyan subsequently transferred his shares to his son Souren. One year later, an offshore company called Qoeur Gold Armenia surfaced and it obtained 80% of Vayk Gold’s stock. Souren Ayvazyan then transferred his shares to Norayr Zohrabyan, registered as a resident of the town of Charentsavan. Vardan Ayvazyan is also registered in Charentsavan.
Changes to the company’s shareholder base took place in December 2018. The Ayvazyan family was no longer officially listed as shareholders. Today, Qoeur Gold Holding LLC, registered in the United Kingdom, owns 80% of Vayk Gold shares. The other 20% is still owned by Norayr Zohrabyan.
Qoeur Gold Holding is a relatively new company, registered in London on June 27, 2018. A British citizen is the founder/shareholder. On July 4, 2018 the company received a $55 million loan from the British companies Boreas Wind Group and Geoenergy. Representatives of the lending companies then assumed management of Kor Gold Holding’s shares. In November 2018, three company shareholders were registered.
Source: hetq.am
Hope this helps Chris