British Chaarat Gold Holdings Limited signed a memorandum of understanding with the government of Kyrgyzstan. This was reported in a company press release.
“The Memorandum of Understanding covers the Tulkubash and Kyzyltash projects, which have combined resources of more than 6 million ounces of gold, or an annual production potential of more than 350 thousand ounces of gold. At the end of the first quarter of 2024, Chaarat plans to complete financing of the first phase of the Tulkubash project.
The Memorandum of Understanding complements the agreement signed in 2019 and confirms the government of the Kyrgyz Republic’s commitment to assisting in the implementation of Chaarat Gold projects and increasing investment in the republic by the company.
Chaarat works closely with the government of Kyrgyzstan to improve the investment climate and promote the country’s initiatives at the international level,” the statement said.
In October 2023, Chaarat closed the sale of the Kapan deposit in Armenia for $55 million 400 thousand to Gold Mining Company LLC in order to focus on creating the largest gold mining company in emerging markets through the development of assets in the Kyrgyz Republic.
Chaarat Gold Holdings Limited is a British company implementing gold mining projects in Kyrgyzstan, Armenia and Uzbekistan. The company’s shares are listed on the AIM platform of the London Stock Exchange.