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4 Feb 2014 09:10
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Director's dealings
Road Town, Tortola, British Virgin Islands (4th February 2014)
Chaarat (AIM:CGH) the AIM quoted exploration and development company with assets in the Kyrgyz Republic, was notified on 3rd February that, on that day, Richard Rae, a non-executive director, purchased 200,000 ordinary shares of US$0.01 each ("Shares") in the Company at a price of 9.7p per share.
Following this transaction, Richard Rae has a beneficial interest in 200,000 Shares representing approximately 0.08% of Chaarat's issued share capital.
Enquiries:
Chaarat Gold Holdings Limited | + 44 23 800 11747/+ 44 20 7499 2612 |
c/o Central Asia Services Limited | info@chaarat.com |
Dekel Golan CEO |
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Linda Naylor FD |
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Numis Securities Limited | +44 (0) 20 7260 1000 |
John Prior, Stuart Skinner (NOMAD) James Black (Broker) |
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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.
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