Chaarat Gold Holdings Ltd : Directorate changes
(Thomson Reuters ONE) -
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Directorate changes
Road Town, Tortola, British Virgin Islands (17 October 2011)
Chaarat (AIM - CGH), the AIM quoted exploration and development company with
assets in the Kyrgyz Republic, announces that David Tang and Luo Tao, the
representatives of China Nonferrous Metals and Mining Co. Ltd ("CNMIM"),
resigned as non-executive Directors on 14 October 2011.
The Board and CNMIM will continue to work together; despite the resignations,
CNMIM has emphasised that all options in respect of their holding in the
company and participation in the project remain open.
CNMIM were entitled to appoint two directors to the Board of Chaarat under the
investment agreement signed in 2009, based on an interest of 20% in the share
capital of Chaarat. As a result of the placing completed in March 2011, the
holding of CNMIM was diluted to below 9%.
Christopher Palmer-Tomkinson, Chairman, comments "We wish to thank David Tang
and Luo Tao for their valuable contribution to Chaarat's development. We are
delighted that we will continue to work together as we move towards production."
For further information about the Company please contact:
Chaarat Gold Holdings Limited +44 (0) 20 7499 2612
c/o Central Asia Services Limited dekel(at)chaarat.com
Dekel Golan CEO linda.naylor(at)chaarat.com
Linda Naylor FD
Westhouse Securities Limited
+44 (0) 20 7601 6100
Tom Price tom.price(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 4.736Moz at a grade of 4.28g/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 increased combined
annual production of over 200,000 ounces as the Kiziltash project comes on
stream.
Further information is available at www.chaarat.com
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#1555257]
Unternehmensinformation / Kurzprofil:
Datum: 17.10.2011 - 11:03 Uhr
Sprache: Deutsch
News-ID 76543
Anzahl Zeichen: 3591
contact information:
Town:
British Virgin Islands
Kategorie:
Business News
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"Chaarat Gold Holdings Ltd : Directorate changes"
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