Tien Shan Gold Belt Map

Premier Management switches to Asian gold opportunities

It developed a new strategy to invest in gold exploration opportunities in Central Asia and focus on Kyrgyzstan Tien Shan gold belt - one of the most prolific gold producing areas in the world.

The company has an option to acquire Central Asia Resources and has appointed mining industry executives with direct experience in Central Asia.

Post the year-end it has undertaken fundraising that has raised 2.12m.

Gerry Desler, Chairman, commented: "This is an exciting and watershed moment in the development of Premier as we look to create value from investment in gold opportunities in Kyrgyzstan."

At 11:14am: (LON:PMA) Premier Management Holdings share price was -0.03p at 2.15p

Story provided by StockMarketWire.

Chaarat Gold prefeasibility study underlines the robust economics ...

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 delineated a JORC compliant mineral resource of 4.406Moz at a grade of 4.20g/t gold across both projects. Chaarat's key objective is to become a low cost gold producer; with initial production from the Tulkubash project, targeting annual production of over 200,000 ounces per annum as the Kiziltash project comes on stream.

Chaarat Gold Holdings ( LON:CGH ) this morning unveiled the results of a pre-feasibility study, which it says underlines the robust economics of its project in the Western Kyrgyzstan.

The Chaarat mine will have the capacity to produce 202,000 ounces of gold at a cash operating cost of US$501 an ounce, according to the report compiled by SNC-Lavalin South Africa.

Initially this will be produced from an open pit before the operation heads underground for the remainder of the mine’s 13-year lifespan.

The initial capital costs of the operation will be in the order of US$474 million, while the net present value of the Chaarat project is put at US$354 million using an eight per cent discount rate and a US$1,250 an ounce gold price. 

This represents an internal rate of return of 18 per cent, the analysis reveals, while it will take around four years for the mine to pay for itself.

Chief executive Dekel Golan said: “The prefeasibility study is a substantial milestone in the long process of unlocking the value of the Chaarat deposit, and demonstrates the robustness of the project and points the way to its development.  

“Furthermore the company remains enthusiastic that these positive results can be significantly improved with more work which can increase the resource and reserve base and reduce costs.”  

The mine will use a carbon in leach plant which will process 1.718 million tonnes of ore per annum. 

However there are plans already in train to build an early stage production unit, which will be located on within the Tulkubash zone of the Chaarat project.

The plan is to eliminate uncertainty “related to the infrastructure status of the project and easing concerns related to the perception of doing business in the Kyrgyz Republic”, Golan said.

Black Belt

Mineral deposit research, meeting the global challenge, proceedings of the Eighth Biennial SGA Meeting, Beijing, China, 18-21 August 2004

Geological literature added to the Geological Society's Library

Black Belt

Black Belt