A clear strategy for Chaarat : Create shareholder value
“…Chaarat Gold has a long target list of opportunities to expand its operational platform…”
Chaarat Gold Holding‘s ambitions to become a larger operating platform show no signs of diminishing despite recent conversations with fellow AIM-listed Shanta Gold and TSX-listed Lydian Armenia CJSC yielding no hoped-for acquisition.
Chief executive Mike Fraser is understandably disappointed but hasn’t closed the book entirely on the latter with re-engagement a possibility. “At the end of the day the most important people that will benefit from this development are the people of Armenia and and we know that the government are desperately keen to see this project developed.”
There was a six month window to finalise a deal but time was against both parties this time round. Next time may not be in the too far distant future, but may not be with Lydian Armenia. “We certainly think that there are other opportunities to continue to grow the business, “adds Fraser,”and you know, we will we still have a long target list that we will now bring up in order of priority.”
Expansion was part of Fraser’s remit when he joined the company in January 2022 in addition to securing the money necessary to activate the Tulkubash project in the Kyrgyz Republic and make the operating Kapan Mine in Armenia a zero lost time in man hours business.
There have been fatalities at Kapan and the company’s entire health and safety regime is being deconstructed again to ensure that no more lives are lost.
Fundamentally Kapan continues to deliver with Fraser emphasizing the mine “continues to operate on a steady state basis with the team focusing on value, not just volume.”
Watch Mike talk to Sarah Lowther about Chaarat’s strategy to become a larger production platform, aborted acquisitions that might yet be resumed and steps being implemented to make the Armenian and Kyrgyz focused mining company a safe and profitable enterprise.
Read the latest corporate presentation
Experience the Kapan mine in this video
Follow the company on Twitter @ChaaratG
The author was remunerated but does not hold shares in the company