Chaarat Gold Holdings Ltd Cessation of hostilities in Nagorno-Karabakh (1965F)
November 13 2020 - 2:00AM
UK Regulatory
TIDMCGH
RNS Number : 1965F
Chaarat Gold Holdings Ltd
13 November 2020
13 November 2020
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Cessation of hostilities in Nagorno-Karabakh
Chaarat Gold (AIM: CGH), the AIM-quoted gold mining Company with
an operating mine in Armenia, and assets at various stages of
development in the Kyrgyz Republic, provides an update on the
current situation in Armenia.
On 9 November, a peace deal brokered by Russia was agreed
between Azerbaijan and Armenia in relation to the Nagorno-Karabakh
region. Russia has deployed resources to keep the peace in the
region with an initial period of five years and a potential
extension for another five years.
Operational impact to the Company has been limited and
management has successfully focused on higher grade areas and
treating additional third-party ore purchases. Additionally,
transport routes and concentrate shipments have seen minimal impact
from the conflict. As a result, Chaarat maintains its annual
production guidance of 55,000 gold equivalent ounces ("oz") from
its Kapan operation.
Artem Volynets, Chief Executive Officer, commented:
" Chaarat proactively managed the situation in the previous
months and was able to balance production allowing us to maintain
our annual guidance. The outstanding efforts of our employees were
critical in keeping our operations as stable and successful as they
have been to date."
Enquiries
+44 (0)20 7499
Chaarat Gold Holdings Limited 2612
Artem Volynets (CEO) info@chaarat.com
Canaccord Genuity Limited (NOMAD + 44 (0)20
and Joint Broker) 7523 8000
Henry Fitzgerald-O'Connor
James Asensio
+44 (0)20 7220
finnCap Limited (Joint Broker) 0500
Christopher Raggett
SP Angel Corporate Finance LLP (Joint + 44 (0)20 3470
Broker) 0470
Ewan Leggat
About Chaarat
Chaarat is a gold mining company which owns the Kapan operating
mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in
the Kyrgyz Republic. The Company has a clear strategy to build a
leading emerging markets gold company with an initial focus on
Central Asia and the FSU through organic growth and selective
M&A.
Chaarat is engaged in active community engagement programmes to
optimise the value of the Chaarat investment proposition.
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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END
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