Appointment of Directors
(Thomson Reuters ONE) - Chaarat Gold Holdings Ltd (AIM:CGH) ("Chaarat" or "the Company") Appointment of DirectorsRoad Town, Tortola, British Virgin Islands, 26 October 2009The Board announces the appointment of Tao Lua and David Tang asNon-Executive Directors with effect from 23 October 2009.These appointments are made in accordance with the subscriptionagreement with China Nonferrous Metals Int'l Mining Co. Ltd("CNMIM"), announced on 13 July 2009, under which CNMIM has the rightto appoint two directors to the board of the Company as long as theirinterest in Chaarat does not fall below 10%. CNMIM's currentshareholding represents 19.9% of the Company's issued share capital.Tao Lua is the Chairman of CNMIM and President of China NonferrousMetal Mining (Group) Co. Ltd ( the parent company of CNMIM), and isappointed as the Deputy Chairman of Chaarat and will sit on theremuneration committee. Mr Lua is a senior economist with over 30years experience in the nonferrous metals industry in China, and wasa Vice Director of Beijing General Research Institute for NonferrousMetals. Mr Lua was also the Chairman of Committee of Supervisors andVice President of Aluminium Corporation of China Ltd. (CHALCO), acompany listed on the New York Stock Exchange and Hong Kong StockExchange.David Tang is President of CNMIM and is appointed to the auditcommittee. In the early 1990s Mr Tang pioneered the trading systemfor the first nonferrous metals future commodity exchange in China,worked for several years in Canada in the investment management andconsulting industry before returning to China to take up office atCNMIM. Mr Tang also holds a Master of Science degree. Dekel Golan, CEO of Chaarat, comments "I am delighted to welcome ournew Directors to the Board and look forward to their support andexperience as we develop our Chaarat Gold Project".Disclosure of Directorships under Schedule 2 of the AIM RulesTao Lua, aged 56, is or has been a director of the followingcompanies during the previous five years:Current directorshipsChina Nonferrous Metal Mining (Group) Co. Ltd.China Nonferrous Metal Industry's Foreign Engineering andConstruction Co. Ltd.ORD River Resources LimitedChina Nonferrous Metals Int'l Mining Co. Ltd.Zambia-China Economic & Trade Cooperation Zone Development LimitedDirectorships held within the previous five yearsNFC Africa Mining Co.Weili (David) Tang, aged 43, is or has been a director of thefollowing companies during the previous five years:Current directorshipsChina Nonferrous Metals Int'l Mining Co. Ltd.ORD River Resources LimitedThere are no other matters which are required to be announced withregard to these appointments pursuant to Schedule 2 paragraph (g) ofthe AIM Rules for Companies.About the Chaarat Gold ProjectThe Chaarat Project is situated within the Middle Tien Shan Mountainsof Kyrgyzstan which form part of the Tien Shan gold belt.Mineralisation occurs and resources have been defined in threesub-parallel zones including the Main Zone, the Contact Zone and theTulkubash Zone. At the completion of the 2008 exploration season, aMineral Resource of 3.34Moz at a grade of 4.30 g/t gold (JORCcompliant in the Indicated and Inferred categories) had beendelineated. The Company's exploration programme is aimed atincreasing the confidence levels in this Resource through infilldrilling and increasing the resource through down-dip andalong-strike extension drilling.About Chaarat Gold Holdings or the CompanyChaarat Gold Holdings is an exploration company founded for thepurpose of developing the Chaarat Licence Area. Chaarat was admittedto AIM on 8 November 2007.DisclaimerThis press release includes forward-looking statements. Suchforward-looking statements involve known and unknown risks,uncertainties and other important factors beyond Chaarat's controlthat would cause the actual results, performance or achievements ofChaarat to be materially different from future results, performanceor achievements expressed or implied by such forward-lookingstatements. Such forward-looking statements are based on numerousassumptions regarding Chaarat's present and future businessstrategies and the environment in which Chaarat will operate in thefuture. Any forward-looking statements speak only as at the date ofthis document. Chaarat expressly disclaims any obligation orundertaking to disseminate any updates or revisions to anyforward-looking statements contained in this document to reflect anychange in Chaarat's expectations with regard to these or any changein events, conditions or circumstances on which any such statementsare based. As a result of these factors, the events described in theforward-looking statements in this press release may not occur eitherpartially or at all. EnquiriesChaarat Gold Holdings Ltdc/o Central Asia Services Ltd +44 (0) 20 7499 2612Dekel Golan dekel(at)chaarat.comLinda Naylor linda.naylor(at)chaarat.comCanaccord Adams Limited +44 (0) 20 7050 6500Mike JonesRobert FinlaySmith's Corporate Advisory +44 (0) 20 7239 0140Dominic Palmer-Tomkinson tomkinson(at)smiths-ca.comConduit PR +44 (0) 20 7429 6603Jos Simson jos(at)conduitpr.com---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.10.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 7387
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