Chaarat Gold Holdings Ltd
(AIM:CGH)
("Chaarat" or "the Company")
Directors Dealings
Road Town, Tortola, British Virgin Islands, 11 November 2009.
Chaarat was notified on 10 November 2009 that Christopher
Palmer-Tomkinson, the non executive Chairman of the Company,
purchased on 9 November 2009, 800,000 Ordinary Shares at 23.5 pence
per share. Following this purchase, Christopher Palmer-Tomkinson is
interested in a total of 6,675,000 Ordinary Shares, representing
5.91% of the issued Ordinary Share capital of the Company.
Chaarat was further notified on 10 November 2009 that Linda Naylor,
the Finance Director of the Company, purchased on the same day,
42,500 Ordinary Shares of the Company at 23.5 pence per share.
Following the purchase, Linda Naylor now holds 42,500 Ordinary Shares
which represents 0.038% of the issued Ordinary Share capital of the
Company.
Chaarat Gold Holdings
Chaarat Gold Holdings is an exploration company operating in the
Kyrgyz Republic with its current main activity being the development
of the Chaarat Gold Project. The Project is situated within the
Middle Tien Shan Mountains of Kyrgyzstan which form part of the Tien
Shan gold belt. The Company has delineated thus far a JORC compliant
Mineral Resource of 3.34Moz at a grade of 4.30 g/t gold.
A scoping study demonstrating the economic viability of the project
was completed at the end of 2008. The Company is currently in the
process of preparing a pre-feasibility study. Following the
continuous exploration works undertaken during 2009 the Company
expects to announce an updated Resource Report in the first quarter
of 2010.
Chaarat's objective is to become a low cost gold producer targeting
an initial production of over 200,000 ounces per annum by late 2012.
Disclaimer
This press release includes forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond Chaarat's control
that would cause the actual results, performance or achievements of
Chaarat to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding Chaarat's present and future business
strategies and the environment in which Chaarat will operate in the
future. Any forward-looking statements speak only as at the date of
this document. Chaarat expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained in this document to reflect any
change in Chaarat's expectations with regard to these or any change
in events, conditions or circumstances on which any such statements
are based. As a result of these factors, the events described in the
forward-looking statements in this press release may not occur either
partially or at all.
Enquiries
Chaarat Gold Holdings Ltd
c/o Central Asia Services Ltd +44 (0) 20 7499 2612
Dekel Golan dekel@chaarat.com
Linda Naylor linda.naylor@chaarat.com
Canaccord Adams Limited +44 (0) 20 7050 6500
Mike Jones
Smith's Corporate Advisory +44 (0) 20 7239 0140
Dominic Palmer-Tomkinson tomkinson@smiths-ca.com
Conduit PR +44 (0) 20 7429 6603
Jos Simson jos@conduitpr.com
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