Chaarat Gold talks with SGMR set to recommence
AIM-listed exploration and development company Chaarat Gold has moved a step closer to continuing its discussions with Shandong Gold Mineral Resource Group (SGMR) after receiving approval to pick up negotiations with the Chinese gold producer's new management team.
AIM-listed exploration and development company Chaarat Gold has moved a step closer to continuing its discussions with Shandong Gold Mineral Resource Group (SGMR) after receiving approval to pick up negotiations with the Chinese gold producer's new management team.
In November, Chaarat Gold reported that SGMR had secured regulatory approval to negotiate an investment into Chaarat Gold.
In Chaarat's most recent update the company reported that "significant progress" had taken place in negotiations with SGMR but highlighted delays due to a change in senior personnel in the SGMR group. It said that negotiations were now "due to recommence in the near future".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Dekel Golan, Chief Executive Officer of Chaarat Gold, commented: "We announced last November that the company was in discussions with Shandong Gold. Since that time significant progress has been made towards an agreement, which the directors believe should be beneficial to our shareholders.
"Discussions had to be postponed before the Chinese New Year due to a change in the senior management. Now that the new members of SGMR's management are in place, recommencement of discussions has been approved and, although we cannot be certain, we hope that renewed negotiations will lead to a satisfactory outcome before too long.
Chaarat Gold operates in the Kyrgyz Republic and has assets in the highly prospective Tien Shan Gold Belt.
Chaarat Gold's share price was up 0.51% to 24.75p at 12:41 on Tuesday.
MF
-
BoE: Millions of mortgage borrowers will be hit with higher repayments next year
News Higher interest rates are yet to fully hit households and monthly mortgage repayments will rise between £200 and £1,000 – how much will your home loan go up by?
By Marc Shoffman Published
-
Halifax: House prices rise for the second consecutive month
UK house prices rose again in November, suggesting a resilient property market amid economic turmoil in the past year- are we heading for a crash?
By Vaishali Varu Published