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Chaarat Gold sees 'strong support' from newly formed Kyrgyz government

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(Kitco News) - Chaarat Gold Holdings (AIM:CGH) said today that it has received positive feedback on the progress of Chaarat’s projects and appreciation for the investments and community support to date during last weeks’ meetings with the new president of Kyrgyzstan, Sadyr Japarov, and the new prime minister, Ulukbek Maripov.

Martin Andersson, Executive Chairman of the Board, commented: "I am pleased with the positive feedback received during the meetings in country and it was a great honour to meet the new leaders of the Kyrgyz Republic in person. The meetings confirmed that Chaarat as an investor and our projects in the Chatkal valley are seen as a major step forward for the communities and are important to the country."

In further meetings, a memorandum of partnership and cooperation with foreign investors was signed between Chaarat Gold Holdings and the Investment Promotion and Protection Agency aimed at attracting investments, as well as developing a number of projects in the regions.

The company added that the agreement includes the existing plans of Chaarat to invest more than 110 million US dollars on the construction of the Tulkubash mining and processing project including related infrastructure investments in the Chatkal district of the Jalal-Abad region over the next two years. Based on the current plans, this will help create more than 800 new jobs at the site.

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic.

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