Renewal of Exploration Licence
(Thomson Reuters ONE) -
Chaarat Gold Holdings Ltd
("Chaarat" or "the Company")
Licence renewal update
Road Town, Tortola, British Virgin Islands (1 June 2010)
Chaarat (AIM: CGH), the gold exploration and development company operating in
the Kyrgyz Republic, is pleased to announce that its exploration licence
agreement on its 100% owned Chaarat project, on which a 4.009 million ounce JORC
compliant gold resource has been reported, has been renewed until 31 December
2012.
The Ministry of Natural Resources of the Kyrgyz Republic had previously
confirmed that all Chaarat's obligations under the licence agreement had been
fulfilled. The licence has been renewed on four separate occasions and the
current licence agreement was due for renewal on 11 December 2010 for a further
period of two years.
Dekel Golan, CEO of Chaarat, comments: "The extension of the exploration
licence, combined with the explicit confirmation that the Company met all its
previous obligations, is a strong endorsement of the Company and the industry in
general. The interim government has repeatedly stressed that all legal contracts
will continue uninterrupted and indeed that is the case with Chaarat."
Enquiries:
Chaarat Gold Holdings Ltd
c/o Central Asia Services Ltd +44 (0) 20 7499 2612
Dekel Golan dekel(at)chaarat.com
Linda Naylor linda.naylor(at)chaarat.com
Westhouse Securities Limited +44 (0) 20 7601 6100
Tim Feather tim.feather(at)westhousesecurities.com
Richard Baty richard.baty(at)westhousesecurities.com
Mirabaud Securities LLP +44 (0) 20 7321 2508
Rory Scott rory.scott(at)mirabaud.com
Smith's Corporate Advisory +44 (0) 20 7239 0140
Dominic Palmer-Tomkinson tomkinson(at)smiths-ca.com
Conduit PR +44 (0) 20 7429 6603
Jos Simson jos(at)conduitpr.com
Emily Fenton emily(at)conduitpr.com
Chaarat
Chaarat is an exploration and development company operating in the Kyrgyz
Republic with its current main activity being the development of the Chaarat
Gold Project. The Chaarat Gold Project is situated within the Middle Tien Shan
Mountains of Kyrgyzstan which form part of the Tien Shan gold belt. The Company
has thus far delineated a JORC compliant mineral resource of 4.009 Moz at a
grade of 4.14 g/t gold. A scoping study demonstrating the economic viability of
the Chaarat Gold Project was completed at the end of 2008. The Company is
currently in the process of compiling a pre-feasibility study. Chaarat's
objective is to become a low cost gold producer targeting an initial production
of over 200,000 ounces per annum by early 2013.
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.
[HUG#1419923]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 21740
Anzahl Zeichen: 0
contact information:
Town:
British Virgin Islands
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 198 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Renewal of Exploration Licence"
steht unter der journalistisch-redaktionellen Verantwortung von
Chaarat Gold Holdings Ltd (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
