Directorate Change

RNS Number : 4059Z

Chaarat Gold Holdings Ltd

06 February 2014

 

Chaarat Gold Holdings Limited

("Chaarat" or "the Company")

Director changes

Road Town, Tortola, British Virgin Islands (6^th February 2014)

Chaarat (AIM:CGH) the AIM quoted exploration and development company with assets in the Kyrgyz Republic, announces that Dr Rob Weinberg, a non-executive director of the Company since January 2011, has given notice of his intended resignation.  The resignation will become effective on 4^th May 2014.  Richard Rae will assume Rob's responsibilities as Chairman of the Audit and Remuneration Committees in due course.

Christopher Palmer-Tomkinson, Chairman stated: "My fellow directors and I thank Rob for his valuable guidance and contribution to the Board over the last three years and join me in wishing him well for the future."

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)

Further information is available at www.chaarat.com

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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