Chaarat Gold Holdings Limited signed a Memorandum of Understanding with the government of Kyrgyzstan. Press release of the company says.
«The Chaarat projects covered by the agreement are Tulkubash, which contains resources of about 1,011,000 oz and Kyzyltash, on the same license, which has unconstrained resources of about 5,377,000Oz. 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 sets out the framework for collaboration going forward and further reinforces the Stabilization Agreement signed in 2019 between Chaarat and Kyrgyz Republic. The Kyrgyz Republic confirms its commitment to facilitating the development of the Chaarat Projects and to provide collaboration to increase investment into the country.
Chaarat is working closely with the government of the Kyrgyz Republic in its efforts to improve the investment climate in the country,» the statement says.
In October 2023, Chaarat closed the sale of Kapan deposit in Armenia for $55,400 million 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.
