TIDMCGH

RNS Number : 1975O

Chaarat Gold Holdings Ltd

29 September 2023

29 September 2023

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Corporate update

Chaarat Gold (AIM: CGH), the AIM-quoted exploration and development company with assets at various stages of development in the Kyrgyz Republic, is pleased to confirm that the sale by Chaarat Gold International Limited of its Armenian subsidiary, Chaarat Kapan CJSC ("Kapan") , which owns the Kapan mining operation in Armenia , to G old M ining C ompany LLC (the "Buyer") is approaching completion .

The documentation required in order to effect the transfer of the shares in Kapan to the Buyer was submitted to the Central Depository of Armenia earlier this week. As soon as the Central Depositary has registered the share transfer, formal completion of the sale can take place. It is anticipated that completion will be achieved within one week. A further announcement will be made once completion has taken place.

As noted in the Company's interim results announcement, working capital facilities totalling US$4.4 million (including interest and arrangement fees) fall due for repayment by the Company on 30 September 2023. The provider of those facilities has agreed in principle to a short extension whilst new working capital facilities are put in place. A further announcement will be made in due course.

 
 Enquiries 
 
                                             +44 (0)20 7499 
 Chaarat Gold Holdings Limited                2612 
 Mike Fraser (Chief Executive Officer)       IR@chaarat.com 
 
 Canaccord Genuity Limited (NOMAD and        + 44 (0)20 7523 
  Joint Broker)                               8000 
 Henry Fitzgerald-O'Connor 
 James Asensio 
 
 Cavendish Capital Markets Limited (Joint    +44 (0)20 7220 
  Broker)                                     0500 
 Neil McDonald 
 
 Panmure Gordon (UK) Limited (Joint          + 44 (0)20 7886 
  Broker)                                     2500 
 John Prior 
  Hugh Rich

About Chaarat

Chaarat is an exploration and development company which owns the Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com .

ENDS

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September 29, 2023 07:01 ET (11:01 GMT)

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