24th Feb 2014 11:13
LONDON (Alliance News) - Chaarat Gold Holdings Ltd said Monday that its two mining licenses on its Chaarat deposit in the Kyrgyz Republic have been merged into one licence that is valid until 2032.
The exploration and development company was also awarded a licence over prospective areas adjacent to the Chaarat licence that is valid until 2033.
Chaarat said its definitive feasibility study for the whole project is on track for completion in late 2014, and has been supported by the Kyrgyz Government.
"Progress on the DFS has continued with the completion of data collection and we are currently assessing the bid packages from consultants," said Chief Executive Officer Dekel Golan in a statement.
Chaarat said that the new unified mining licence can be extended from 2032 to the life of mine, which it believes to be longer.
Shares in Chaarat were trading up 4.6% at 11.45 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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