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Chaarat Gold Holdings Ltd - gold miner, which has an operating mine in Armenia and assets in Kyrgyzstan - Enters into new $5 million secured working capital facility arrangement with its largest shareholder, Labro Investments Ltd. The facility has a 12% per year interest and must be repaid by July 31 next year. Chaarat Gold will use the proceeds to repay its existing working capital facilities in full, and provide it with enough operational funding through to the third quarter of 2024. Chaarat will issue 4.0 million new shares at 5 pence per share to Labro. Chaarat Chief Financial Officer David Mackenzie says the facility will help the company ‘to continue to work constructively with the holders of its convertible loan notes and towards the completion of a fully-financed first phase development of Tulkubash’. Tulkubash is Chaarat’s open pit heap leach project in Kyrgyzstan. Current stock price: 3.48p, up 2.1% on Thursday 12-month change: down 66% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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