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Last 7.75 GBp
Change Today 0.00 / 0.00%
Volume 0.0
CGH On Other Exchanges
As of 11:35 AM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

chaarat gold holdings ltd (CGH) Snapshot

8.00 GBp
Previous Close
7.75 GBp
Day High
8.00 GBp
Day Low
7.75 GBp
52 Week High
09/2/14 - 19.50 GBp
52 Week Low
07/24/15 - 7.26 GBp
Market Cap
Average Volume 10 Days
-0.05 GBp
Shares Outstanding
Dividend Yield

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chaarat gold holdings ltd (CGH) Details

Chaarat Gold Holdings Limited engages in the exploration and development of mineral deposits in the Kyrgyz Republic. It explores for gold deposits. The company is primarily involved in the development of Chaarat Gold project, which is located along the Sandalash River valley, on the Western border of the Kyrgyz Republic. Chaarat Gold Holdings Limited is based in Bishkek, the Kyrgyz Republic.

300 Employees
Last Reported Date: 06/17/15

chaarat gold holdings ltd (CGH) Top Compensated Officers

Chief Executive Officer, Director, Member of ...
Total Annual Compensation: $429.1K
Director of Finance, Company Secretary, Direc...
Total Annual Compensation: $285.7K
Executive Director, Member of Nominations Com...
Total Annual Compensation: $266.0K
Compensation as of Fiscal Year 2014.

chaarat gold holdings ltd (CGH) Key Developments

Chaarat Gold Holdings Ltd, Annual General Meeting, Jul 22, 2015

Chaarat Gold Holdings Ltd, Annual General Meeting, Jul 22, 2015. Location: the offices of BDO.

Chaarat Gold Holdings Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2014

Chaarat Gold Holdings Ltd. announced audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported operating loss of $14,039,998 compared to $14,595,811 a year ago. Loss for the year, attributable to equity shareholders of the parent was $13,563,462 or 4.97 cents per basic and diluted share compared to $14,376,210 or 5.74 cents per basic and diluted share a year ago. Net cash flow used in operations was $5,087,776 compared to $5,968,327 a year ago. Purchase of computer software was $6,777 compared to $24,892 a year ago. Purchase of tangible assets was $4,898,050 compared to $19,486,920 a year ago.

Chaarat Gold Holdings Ltd Provides Definitive Feasibility Study Progress Update

Chaarat Gold Holdings Ltd. reported important developments identified during preparation of the Definitive Feasibility Study (DFS) which are expected to add to the value of the Chaarat Gold Project (the Project) as well as reducing implementation and technological risk. Key findings of the DFS to date: Layout of the Project: The company's previous team of DFS advisers recommended that, due to the location of the deposit in a narrow valley, the production facility should be located in an adjacent valley. This would necessitate the construction of a tunnel to connect the plant to the mine site. NERIN, together with local Kyrgyz companies, studied the alternatives and identified a layout which will eliminate the need to construct a tunnel for at least the first ten years of operation. The elimination of the immediate requirement for a tunnel will reduce the upfront cost of the project considerably, as well as reducing the uncertainty involved in developing a tunnel and the lead time to production. This is a major breakthrough in minimizing risks and adding value to the Chaarat Project. Expected Production Capacity: The optimisation of the pit design has been enhanced by the reductions in upfront capital costs identified to date. This is an iterative process and work continues on the production scheduling such that the company can be hopeful of a reduction in the overall cost per ounce with further improvements to the net present value of the Project and therefore the return on investment. The design currently shows heap leachable reserves of 533,000 ounces, a grade of 1.41g/t and life of mine of 4.5 years. The Tulkubash pit shells currently contain a total of 11.8 million tonnes of material at a grade of 1.41 g/t. The mine operating procedures and equipment selection continues and, assuming 8% dilution and 3% loss, Chaarat expects circa 12.3 million tonnes of Run of Mine Material at a grade of 1.3 g/t. The company remain confident of the potential of the available resource as supported by the company's update following last year's drilling. Heap leach recovery is expected to be 73%. The optimal production capacity and schedule are being finalized with an annual capacity of 2.7-3 million tonnes of ores to be processed, which would result in production of between 80 and 90,000 ounces of gold per year for the first stage of the Project. Request for Proposals for the mining contract are being solicited and site visits by contractors are expected soon. The appointment of a mining contractor will reduce the risk of the Project as Chaarat will not be responsible for recruitment, training or equipment. However, a condition of the contract will be that recruitment and training of residents from the valley adjacent to the site is undertaken by the contractor. Stage 1 - next steps: One of the advantages of appointing a Chinese design and engineering institute such as NERIN is the similarity of Kyrgyz and Chinese feasibility studies. Therefore the adaptation of the DFS to local standards for the purpose of obtaining construction permits should be more straightforward. This work has started with the appointment of local Kyrgyz companies to undertake the adaptation. They have now begun their work with NERIN. The completion of the DFS, its adaptation and then the receipt of the necessary permits will, subject to financing, enable construction of stage one of the Project to begin. Once production from the heap leach has commenced, which assuming all proceeds to plan will be in 2017, the Company plans to secure finance and commence stage two, being the development and processing of the refractory ore. Stage 2 - Refractory ore process update: Chaarat has continued to review different methods of processing the refractory (sulphide) ore. After submitting an industrial size sample to the Inner Mongolia Mineral Experiment Research Institute (IMME) for test work the company have been very encouraged by the results from using the Bio-Oxidation (BIOX) process. The results from IMME are in line with previous tests carried out by Mintek in South Africa. However Mintek's results were only obtained with a high level of cyanide consumption and further work was recommended to develop suitable bacteria to overcome this problem. At the time the company decided not to pursue this option. IMME's recent tests resulted in cyanide consumption only slightly above that recorded when the Pressure Oxidation (POX) method was used, due to the development of the BIOX technology in the period since the original tests. The ability to use BIOX rather than POX is very important for the project. BIOX is used in a number of significant projects in China and is considered a tried and tested technology. Chinese engineering companies have significant experience with this technology which provides comfort to financial institutions and prospective investors that BIOX can be installed successfully. It has the additional benefit of a much lower capital cost and consequent further improvement in the economics of the Project.


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