Chaarat Gold manages to maintain production despite Armenia conflict
(Kitco News) - Chaarat Gold Ltd. (CGH:LSE) shares have pushed higher during the EU session after the company confirmed it can keep production stable despite the conflict in Armenia.
The firm has developments in the Kyrgyz Republic and they noted that a peace deal brokered by Russia was agreed between Azerbaijan and Armenia in relation to the Nagorno-Karabakh region.
Russia has deployed resources to keep the peace in the region with an initial period of five years and a potential extension for another five years. Artem Volynets, Chaarat the chief executive officer of the firm said "Chaarat proactively managed the situation in the previous months and was able to balance production allowing us to maintain our annual guidance. The outstanding efforts of our employees were critical in keeping our operations as stable and successful as they have been to date."
The weekly chart below showed that recently investors were worried about the conflict but today the share price has moved 9% higher and there has been some decent volume in the move. The bulls will need to take out 42p per share to keep this trend back on track and the coming weeks will be interesting.