Chaarat Gold - Fatal Incident at Kapan Mine

RNS Number : 5806L

Chaarat Gold Holdings Ltd

16 May 2022

 

16 May 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Chaarat Gold - Fatal Incident at Kapan Mine

Chaarat Gold (AIM: CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, regrets to report a fatal incident involving an employee of its contractor, S&A Mining, on 14^th May 2022 following a rock fall underground at the Kapan mining operation.

The underground mining area where the incident occurred was closed immediately and an internal and external investigation has commenced. Chaarat is now working with S&A Mining and local authorities to facilitate their investigation of this tragic incident.

Mining operations continue in all other working areas while work remains stopped in the one stope where the incident occurred. Mine production is not expected to be affected.

Mike Fraser, Chief Executive Officer of Chaarat, said:

"We truly regret this incident, and we offer our sincere condolences to the family of the deceased. The safety of our employees and contractor employees at our operations is a top priority for Chaarat. We are working through an internal and external investigation and will identify further measures to prevent such incidents from occurring, and to protect the health of our employees and contracted companies' employees."

Enquiries
Chaarat Gold Holdings Limited	[phone]
Mike Fraser (CEO)	[e-mail]
Canaccord Genuity Limited (NOMAD and Joint Broker)	+ 44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
James Asensio
finnCap Limited (Joint Broker)	[phone]
Christopher Raggett
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior Hugh Rich

About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com/ .

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