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    CGH   VGG203461055

CHAARAT GOLD HOLDINGS LIMITED

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Chaarat Gold Holdings Limited Announces Completion of Ion Kyzyltash Metallurgical 2021 Drilling Programme

10/12/2021 | 02:00am EST

Chaarat Gold Holdings Limited announced the completion of the Kyzyltash 2021 drilling programme. The drilling intersected significant high grade gold intercepts within the current JORC compliant measured, indicated and inferred sulphide resource of 5.4 million ounces at 3.8 g/t. The drill core will be used to determine the appropriate processing route for the sulphide ore. Once funded, designed, and constructed, the asset will target approximately 300koz of annual production. The recently completed Kyzyltash metallurgical drill programme consisted of 16 twin drill holes totaling 3,508 metres. The programme was performed over a period of three months and drill hole locations were selected to provide sufficient quantity of gradeandspatially representative material for two composite samples from the CZ and MZ of the Kyzyltash deposit. Drilling was conducted usinglarge PQ diameter drill tube to ensure a sufficient quantity of core for the subsequent metallurgical testing. The ore collected will now be sent to SGS Lakefield in Canada to carry out metallurgical testwork on the selected composite samples. Process testing will be carried out on pressure oxidation, bio-oxidation and Albion processes to help determine the most suitable pre-leach oxidation processing route for the project. It is expected that the results of the SGS testwork and analysis will be completed in first half 2022. The Kyzyltash sulphide ore bodies are in the same license area as the Tulkubash project where preliminary construction activities have progressed. Kyzyltash represents the next stage of development in the Kyrgyz Republic through organic growth to a targeted 500 koz p.a. group production by 2026. A quarter PQ core was sampled on average intervals of two metres, taking into account all clear geological boundaries. FA /ICP 35 analysis were conducted by Stewart Assay and Environmental Laboratories in Kara Balta, Kyrgyzstan. In any 20 regular samples, 1 duplicate, 1 standard and 1 blank sample were introduced. SGS laboratory in Russia, city of Chita, is used for external laboratory control. The core boxes are stored in dry metal containers to reduce supergene alteration. The individual metallurgical samples to be packed in labeled plastic bags and laid in plastic barrels prior shipment to SGS. All received QA/QC results were prepared in accordance with JORC code guidelines and are meeting the international industry standards.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 90,6 M - -
Net income 2021 1,25 M - -
Net Debt 2021 42,7 M - -
P/E ratio 2021 140x
Yield 2021 -
Capitalization 181 M 181 M -
EV / Sales 2021 2,47x
EV / Sales 2022 2,79x
Nbr of Employees 1 194
Free-Float 45,8%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 20,40 GBX
Average target price 53,67 GBX
Spread / Average Target 163%
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Managers and Directors
Martin Andersson Executive Chairman & Chief Executive Officer
Christopher Eger Chief Financial Officer
Darin Cooper Chief Operations Officer
Gordon F. Wylie Senior Independent Director
Robert Willem John Edwards Independent Non-Executive Director
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