Chaarat Gold Holdings Ltd – Gold miner, which has an operating mine in Armenia and assets in Kyrgyzstan – Says that its wholly-owned subsidiary, Chaarat Zaav CJSC, has entered into binding conditional agreements for the construction and operation of its wholly-owned Tulkubash gold project in the Kyrgyz Republic. The contract, which was signed with Power Construction Corporation of China Ltd, include: a USD82.8 million engineering, procurement, and construction ceiling price contract; a USD160.1 million for a five-year mining contract; and a USD7.2 million for a five-year operation and maintenance contract. Revised capital costs are now expected to be USD104.2 million, which is USD11.2 million lower than originally thought in the company’s bankable feasibility study.
Source and Credit: morningstar.co.uk
