Published: 08:00 CET 09-03-2011 /Thomson Reuters /Source: Chaarat Gold Holdings Ltd /XLON: CGH /ISIN: VGG203461055
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Director's Dealings
Road Town, Tortola, British Virgin Islands (9 March 2011).
Chaarat (AIM: CGH) has been notified that on 8 March 2011 Alexander Novak transferred 700,000 ordinary shares of US$0.01 each ("Share(s)") in the Company to a third party. The consideration for the sale was the market price of the Shares at close of business on 7 March 2011, being 53.4 pence per Share. Following this transaction, Alexander Novak has a beneficial interest in 10,975,358 Shares representing approximately 4.38% of Chaarat's issued share capital.
Note to Editors:
About Chaarat Gold
Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic. The Company's main activity is the development of the Kiziltash and Tulkubash projects situated within the Middle Tien Shan Mountains of Kyrgyzstan which form part of the Tien Shan gold belt. The Company has thus far delineated a JORC compliant mineral resource of 4.406 Moz at a grade of 4.2 g/t gold across both deposits. The Company is currently in the process of compiling a Pre-Feasibility study on the Kiziltash project and a Definitive Feasibility Study on the Tulkubash project. Chaarat's objective is to become a low cost gold producer targeting production of over 200,000 ounces per annum by early 2014 from the Kiziltash project with first production from the smaller Tulkubash project in mid 2012.
www.chaarat.com
Enquiries
c/o Central Asia Services Limited
+44 (0) 20 7499 2612
Dekel Golan
dekel@chaarat.com
Linda Naylor
linda.naylor@chaarat.com
Westhouse Securities Limited
+44 (0) 20 7601 6100
Tim Feather
tim.feather@westhousesecurities.com
Richard Baty
richard.baty@westhousesecurities.com
Smith's Corporate Advisory
+44 (0) 20 7239 0140
Dominic Palmer-Tomkinson
tomkinson@smiths-ca.com
Disclaimer
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Chaarat's control that would cause the actual results, performance or achievements of Chaarat to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Chaarat's present and future business strategies and the environment in which Chaarat will operate in the future. Any forward-looking statements speak only as at the date of this document. Chaarat expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this document to reflect any change in Chaarat's expectations with regard to these or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements in this press release may not occur either partially or at all.
Chaarat Gold est une société développant des projet miniers d'or basée en Suisse.
Chaarat Gold détient divers projets d'exploration au Kirghizistan.
Ses principaux projets en exploration sont MINTEKE, KASHKASU, KIZILTASH (CHAARAT MAIN) et TULKUBASH au Kirghizistan.