Confirmation of clarification re press comment
(Thomson Reuters ONE) -
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
CONFIRMATION OF CLARIFICATION RE. PRESS COMMENT
Road Town, Tortola, British Virgin Islands 24 June 2011
Further to the announcement made on 23 June 2011, the Board of Chaarat , the AIM
quoted exploration and development company with assets in the Kyrgyz Republic
("KR"), welcomes the official statement from the Ministry of Natural Resources
in Kyrgyzstan ("the Ministry"), to the effect that comments from the Minister of
Natural Resources ("the Minister") had been misinterpreted and that there had
been no intention to imply that the Ministry was considering nationalising any
mineral resources in the country.
A translated extract of the statement from the Press Service of the Ministry of
Natural Resources of the Kyrgyz Republic appears below and the full translation
is available at www.chaarat.com:
"In order to eliminate discordance and inconsistencies regarding amendments to
the KR Subsoil Law, the KR Ministry of Natural Resources offers the following
clarifications. Article 12 Clause 5 of the Constitution of the KR states:
The land, its subsurface resources, air, water, forests, flora and fauna, other
natural resources are the exclusive domain of the Kyrgyz Republic, and shall be
used for the purpose of preservation of the sole ecological system as the basis
for subsistence and activities of the people of Kyrgyzstan and shall be under
special protection by the State.
"The amendments to be introduced stipulate coordination of the active subsoil
legislation with the KR Constitution as of 27 June, 2010.
"This situation does not imply any nationalization or expropriation and any
rumours in this connection have no grounds whatsoever."
The full text of the announcement from the Ministry can be found at
http://www.geo.gov.kg/index.php/ru/news/geology-news/765-admin
and the English translation atwww.chaarat.com
The Company continues to work closely with the authorities in Kyrgyzstan in
progressing its projects at Chaarat.
Further information about the Company:
Chaarat Gold Holdings Limited +44 (0) 20 7499 2612
c/o Central Asia Services Limited
Dekel Golan - CEO dekel(at)chaarat.com
Linda Naylor - FD 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
Bankside Consultants +44 (0) 20 7367 8888
Simon Rothschild simon.rothschild(at)bankside.com
Note to Editors:
About Chaarat Gold
Chaarat Gold is an exploration and development company operating in the Kyrgyz
Republic. The Company's main activity is the development of the Kiziltash and
Tulkubash projects situated within the Middle Tien Shan Mountains of Kyrgyzstan,
which form part of the Tien Shan gold belt. The Company has delineated a JORC
compliant mineral resource of 4.406Moz at a grade of 4.20g/t gold across both
projects. Chaarat's key objective is to become a low cost gold producer; with
initial production from the Tulkubash project, targeting annual production of
over 200,000 ounces per annum as the Kiziltash project comes on stream.
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
[HUG#1525967]
Unternehmensinformation / Kurzprofil:
Datum: 24.06.2011 - 14:47 Uhr
Sprache: Deutsch
News-ID 55844
Anzahl Zeichen: 4454
contact information:
Town:
British Virgin Islands
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 183 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Confirmation of clarification re press comment"
steht unter der journalistisch-redaktionellen Verantwortung von
Chaarat Gold Holdings Ltd (Nachricht senden)
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