Director's dealing

RNS Number : 2375Z

Chaarat Gold Holdings Ltd

04 February 2014

 

Chaarat Gold Holdings Limited

("Chaarat" or "the Company")

Director's dealings

Road Town, Tortola, British Virgin Islands (4^th February 2014)

Chaarat (AIM:CGH) the AIM quoted exploration and development company with assets in the Kyrgyz Republic, was notified on 3^rd 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	[e-mail]
Dekel Golan   CEO
Linda Naylor  FD
Numis Securities Limited	[phone]
John Prior, Stuart Skinner (NOMAD) James Black (Broker)

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.

 

END

 

 

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