Further re Proposed Acquisition of Kyrex Limited
(Thomson Reuters ONE) -
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Road Town, Tortola, British Virgin Islands (15 July 2010)
Chaarat (AIM: CGH), is pleased to announce that, further to the announcement
made by the Company on 21 June 2010 regarding the acquisition of Kyrex Limited
("Kyrex"), the Company has received acceptances in respect of the offer from
shareholders representing in excess of 75 per cent. of the issued share capital
of Kyrex. In accordance with the drag along provisions in the articles of
association of Kyrex, Chaarat is now able to acquire the remaining issued and to
be issued shares in Kyrex.
A further announcement will be made on completion of the acquisition and the
subsequent issue of the consideration shares.
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
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#1431749]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 15.07.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 23939
Anzahl Zeichen: 0
contact information:
Town:
British Virgin Islands
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Further re Proposed Acquisition of Kyrex Limited"
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Chaarat Gold Holdings Ltd (Nachricht senden)
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