20th Apr 2015 08:30
LONDON (Alliance News) - Chaarat Gold Holdings Ltd Monday said positive developments have been made during preparation of the definitive feasibility study of the Chaarat gold project in the Kyrgyz Republic.
The exploration and development company said a comprehensive review of available development options for the project has been completed by design institute China Nerin Engineering Co Ltd, part of China Nonferrous Metal Industry's Foreign Engineering and Construction Co Ltd.
It also said that the upfront cost of the stage-one heap leach project was reduced by a delay in tunnel construction, with a consequent uplift in value of the project and a reduction in implementation risk.
An improved metallurgical process has also been identified for stage two, as refractory ore reduces the cost and technological risk.
It added that the Tulkubash heap leach pit shell contains 11.8 million tonnes at a grade of 1.41 grammes of gold per tonne.
Chief Executive Dekel Golan said the definitive feasibility study remains on track for delivery in mid-2015, and the company will complete the main permitting process during early 2016.
Shares in Chaarat Gold were trading up 0.1% at 8.06 pence each Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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