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".

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

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
The FTSE 100 has clawed back above 7,000 – how much higher can it go?
UK stockmarkets

The FTSE 100 has clawed back above 7,000 – how much higher can it go?

The FTSE 100 index has risen to over 7,000 for the first time in over a year – it now sits just above where it was in 1999. But its era of neglect cou…
19 Apr 2021
The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021