Kyrgyz Investment Forum

RNS Number : 6938G

Chaarat Gold Holdings Ltd

31 May 2017

 

Chaarat Gold Holdings Limited
 

("Chaarat" or the "Company")

Kyrgyz Investment Forum

Road Town, Tortola, British Virgin Islands (31^st May 2017)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, is pleased to report on the Investment Forum on 25^th May 2017 co-hosted with the Embassy of the Kyrgyz Republic and the European Bank for Reconstruction and Development (EBRD) entitled "The Kyrgyz Republic - a true democracy open for business". 

The Forum was held as the first stage of the strategy agreed between Chaarat and the Kyrgyz Government to educate and inform the international investor community about the Kyrgyz Republic as an investment destination.  The Forum built on the success of the inaugural UK trade mission to the Kyrgyz Republic which took place in March 2017 and is part of the Government's initiative to create a positive investment environment in the Kyrgyz Republic. Approximately 100 people attended the Forum, which was a resounding success.

Mining accounts for 50.1% of the total industry capacity and 31.8% of total investment in the economy. The significant growth expectations in the hydropower capacity of the country were highlighted together with the low cost of power at approximately 3 US cents per kilowatt which is of significant benefit to the mining industry. 

Chaarat's 7.04m ounce gold deposit was highlighted as a strategic asset for the country and the Government's support for the development of the stage one Tulkubash Heap Leach Project was re-iterated.

Dr Siddarth Saxena, the Chairperson of the Cambridge Central Asia Forum, provided an overview of the new opportunities provided by the knowledge economy for sectoral development of the Kyrgyz Republic. He emphasised the highly educated workforce which, with appropriate upgrading of skills, could lead to a re-industrialisation based on an integrated technical services platform.  An example is the certified metallurgical testing of gold ore which is not available to the appropriate level in neighbouring countries.  

During the Forum the Chairman of the Board of Manas Airport signed an agreement with EBRD to provide a loan and grant for the modernisation of the terminal building in Bishkek.   Manas, the main air gateway in the Kyrgyz Republic, serves the capital Bishkek and is used by some international airlines as a transit airport. The project will also be the first time in the Kyrgyz Republic that a majority state-owned enterprise has borrowed funds without a sovereign guarantee. To date, the EBRD has invested about USD 770 million in various sectors of the Kyrgyz economy, with projects in infrastructure accounting for a third of the total investment.

The presentations from the Forum are available at https://www.chaarat.com/presentations

Dekel Golan, CEO of Chaarat comments: " The Forum was well attended and we have received some very positive feedback.  We will continue to support the Kyrgyz Government in this initiative. I would like to express my thanks on behalf of the Chaarat team for the help and practical support provided by the Kyrgyz Embassy and EBRD team. We welcome any comments or suggestions on the Forum to our email address below."

Enquiries:

Chaarat Gold Holdings Limited	+ 44 (0) 20 7499 2612
c/o Central Asia Services Limited	[e-mail]
Dekel Golan   CEO                   Linda Naylor  FD
Numis Securities Limited	[phone]
John Prior, Paul Gillam (NOMAD) James Black (Broker)

About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource - the Chaarat Gold Project. The Company's key objective is to become a low cost gold producer generating significant production from the development of the Chaarat Gold Project. Chaarat is engaged in an active community engagement programme to optimise the value of the Chaarat investment proposition. 

Chaarat aims to create value for its shareholders, employees and communities from its high quality gold and mineral deposits in the Kyrgyz Republic 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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