Incredibly encouraging results for Chaarat Gold
“…The Kyzyltash gold deposit is really the key prize in the entire resource. There’s significantly more resource potential available in this area for Chaarat…”
Chaarat Gold has two projects being developed in the Kyrgyz Republic which sit on the same property.
There’s the very large reserve, the underground sulphide deposit, known as Kyzyltash and the oxide heap leach project Tulkubash.
The investor update in August focused on the former which chief executive Mike Fraser describes as “the real prize in this portfolio because that is where the real value in the long term sits.”
He was speaking with confidence after two tonnes of material was sent to Canada for metallurgical testing and most of the results are back. Testing reveals what recovery methods are most appropriate for the project and allows management to calculate capital costs to take the asset into production.
And to the delight of the board and no doubt shareholders the albion recovery route is “coming out as being a very strong contender for that processing route.” This is important says Fraser because albion is a much lower processing cost route and recovery requires much lower capital costs.”
The additional bonus, Mike shares with Sarah Lowther, is that the results also indicate higher levels of recovery.
To understand what the Kumtor | Centerra precedent means for investment in the mining industry in the Kyrgyz Republic and Chaarat Gold, watch Mike talk to Mining Journal editor Tom Hoskyns.
Mike joins COO Darin Cooper and interim CFO David Mackenzie to discuss the FY 2021 results on the Investor Meet platform
View the company’s annual report
Explore the company’s presence in the community
Follow the company on Twitter @ChaaratG
The author was remunerated but does not hold shares in the company
