31st Jul 2023 12:01
Chaarat Gold Holdings Ltd - Gold mining company with an operating mine in Armenia, and assets in the Kyrgyz Republic - Says it is in the process of negotiating an extension to the maturity date of its USD31.7 million conversion loan notes.
Adds it is in discussions with Xiwang International Co Ltd about the completion of its potential USD250 million investment deal, which will support the development of Chaarat's organic pipeline and facilitate external growth through value-added acquisitions. Investment will be in the form of a new issue of shares in Chaarat at a price of GBP0.20 per share, resulting in Xiwang holding 60% of the shares in the company.
Current stock price: 7.67 pence, down 12% on Monday
12-month change: down 37%
By Sabrina Penty, Alliance News reporter
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