Chaarat Gold Holdings Ltd LOCAL PERMITTING ACHIEVED FOR TULKUBASH PROJECT (3539R)
21 Setembro 2017 - 3:00AM
UK Regulatory
TIDMCGH
RNS Number : 3539R
Chaarat Gold Holdings Ltd
21 September 2017
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
FULL LOCAL PERMITTING ACHIEVED FOR THE TULKUBASH HEAP LEACH
PROJECT
Road Town, Tortola, British Virgin Islands (21(st) September
2017)
Chaarat (AIM - CGH), the AIM quoted exploration and development
company with assets in the Kyrgyz Republic, is pleased to provide
an update on the in-country approval process for the Chaarat Gold
Project.
Highlights
-- Licence agreement signed with Kyrgyz Government confirms
approval for the plan to take stage one and two of the Chaarat Gold
Project to production following successful submission of the
Technical Project (TP) and positive public hearing
-- Tulkubash Heap Leach Project approved for construction
-- Stage two refractory deposit can be developed when appropriate
-- Local environmental impact assessments and mitigation strategies approved
-- Land allocations for the main operational and infrastructure facilities secured
In accordance with the terms of the mining licence, the Company
submitted a Technical Project (TP) setting out the detailed plan
for the development of the Tulkubash Project and the environmental
impact assessment (or OVOS) to the State Committee of Energy,
Industry and Subsoil Use (SCEIS). The TP also contained an outline
of the second stage refractory development which will be developed
in more detail in due course. However, there will be no need to
submit another TP or undertake a public hearings process when
seeking permitting for the second stage development.
As reported on 6 July, a positive expert evaluation was received
on the OVOS, following the support of the local community in 2015
for the development plans.
We are pleased to confirm that all approvals of the TP have now
been received. We have signed a licence agreement with SCEIS
confirming approval to complete the design and construction
required to reach production from the stage one Tulkubash Project
in 2019.
This means that the Company can now proceed to detailed design
of the mining, processing and infrastructure facilities. The
related geotechnical works are almost complete and the selection of
the designer for the leach pad is underway.
Robert Benbow, CEO of Chaarat, commented: "Securing the approval
of the Technical Project is another positive milestone in our path
to putting the Tulkubash heap leach project into production. Our
efforts are now fully directed towards completing the feasibility
study and advancing to project construction. Our local team has
worked hard to gain approval ahead of the Presidential elections in
October.
We are also pleased to note the positive outcome to the long
running dispute between the Kyrgyz government and Centerra relating
to the Kumtor mine. This is an encouraging sign for all mining
companies operating in the Kyrgyz Republic and their stakeholders.
It delivers on the statement made at the Kyrgyz Investment Forum in
May by Mr Duishenbek Zilaliev who is now Deputy Prime Minister of
the Kyrgyz Republic."
Enquiries:
Chaarat Gold Holdings
Limited + 44 20 7499 2612
c/o Central Asia Services info@chaarat.com
Limited
Robert Benbow CEO
Linda Naylor FD
Numis Securities Limited +44 (0) 20 7260 1000
John Prior, Paul Gillam
(NOMAD)
James Black (Broker)
About Chaarat Gold
Chaarat Gold is an exploration and development company operating
in the Kyrgyz Republic with a large, high grade resource - the
Chaarat Gold Project. The Company's key objective is to become a
low cost gold producer generating significant production from the
development of the Chaarat Gold Project. Chaarat is engaged in an
active community engagement programme 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 in the
Kyrgyz Republic by building relationships based on trust and
operating to the best environmental, social and employment
standards.
Further information is available at www.chaarat.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDMGZLVGMGNZM
(END) Dow Jones Newswires
September 21, 2017 02:00 ET (06:00 GMT)
Chaarat Gold (LSE:CGH)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Chaarat Gold (LSE:CGH)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024