Resolution of Kumtor Mine Dispute

RNS Number : 2327H

Chaarat Gold Holdings Ltd

05 April 2022

 

05 April 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Resolution of Dispute between Kyrgyz Republic and Centerra Gold

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,is pleased to note that the Government of the Kyrgyz Republic and Centerra Gold Inc.signed an agreement regarding a resolution of the dispute on the Kumtor Mine in the Kyrgyz Republic on 4th  April 2022 . 

Mike Fraser, Chief Executive Officer of Chaarat , commented:

" The agreement on the Kumtor dispute is a positive development and we are confident that a resolution will be beneficial for overall investor sentiment in the region. As we understand from several financing parties, this was one of the key preconditions for financing, and we are looking forward to reengaging with potential financial partners on our Tulkubash project.

Our projects in the Chatkal valley are an important value creation opportunity for the area and its communities. We believe that investments such as ours and the strong commitment by the Kyrgyz Government towards international investors will attract further investment to the country . In addition, this will also allow Chaarat to accelerate development of its Kyzyltash deposit which remains the Company's main strategic objective in Kyrgyzstan. "

Enquiries
Chaarat Gold Holdings Limited	[phone]
Patrick Henze (VP Corp Dev & IR)	[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 p rojects 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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