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.

By MoneyWeek

published 12 March 2013

in Features

In November, Chaarat Gold reported that SGMR had secured regulatory approval to negotiate an investment into Chaarat Gold.

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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.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.