Chaarat Gold Share Discussion Threads

[casual47] 01/9/2017 16:20

Quite lively atm, 300K volume.

News can't come soon enough -- let's hope even before the Interims later this month.

[casual47] 22/8/2017 14:36

It's been more than two months since a corporate update and yet on a day like this they can still shift 75k above 17p

There's complaining and then there's complaining....

[juju44] 22/8/2017 14:28

can only see this dropping until we get some news and it would need to be good

[casual47] 19/8/2017 12:29

Nothing particularly noteworthy but saw this while googling:

Job ad for a surveyor at Chaarat. Mentions road construction.



"Conduct on-the-spot on-site monitoring of Road construction by the contractor."

See 7th July update:

"Construction on the site access road has commenced but later than planned due to extended winter weather. The Company is reviewing options to expedite the road's completion."

[casual47] 18/8/2017 16:01

A nice collection of nutters in the comments to that video.

[richgit] 18/8/2017 15:49

An absolutely must listen for an insight into what is really going on,
even for the sponges in total denial.

[casual47] 15/8/2017 13:22

I'm not a chartist but the chart from June onwards sure looks like an inverse head and shoulders....

[juju44] 15/8/2017 10:39

Bid now 17.25p . I make no predictions on this one. They have the gold but will it ever be delivered . I hold on in hope

[casual47] 15/8/2017 10:36

"down" is relative. The last transaction was 2,574 @19.0257p and the last sale was at 17.725p, nearly 0.5p above yesterday's sale prices.

To be still getting sizeable buys at 19p nearly three weeks after the last RNS (holdings) and more than FIVE weeks after the last RNS with any sort of corporate update is an achievement in itself.

Did you forget the bad old days with continuous drift?

A few punters were convinced we'd be back down to 15p by now. Guess they were wrong, weren't they?

[juju44] 15/8/2017 10:20

yep , back down now . This is a real bummer

[casual47] 15/8/2017 08:57

I guess that confirms it:

63,276 @ 19p

[casual47] 14/8/2017 17:43

Sales seem to be outweighing buys yet they aren't dropping it below 17.25p. Maybe they are trying to fill an order?

Could explain the 18.5625p that was paid for 2,645 shares?

[casual47] 11/8/2017 16:53

Smallest uncrossing trade I've seen on any share: 20,000 @17.75p

[casual47] 10/8/2017 14:43

No Labro consortium buys in a while. Surely can't be because there's no liquidity...

Perhaps they are in a closed period, with e.g. drilling results coming in or finance negotiations under way?

[rhuvaal2] 09/8/2017 16:37

Thanks for that, casual

[casual47] 09/8/2017 14:06

From May 2017, similar data for White Cliff, who own 90% of the 302,000oz, 5.18g/t Aucu Gold Project in the Kyrgyz Republic, very close to where Chaarat sits.

White Cliff Minerals
EV Undiluted (A$m): $10.3
Global Resource (Mt):1.8
Global Au Grade (g/t): 5.20
Contained Au Moz Coy Share: 0.27
Ev/oz Au equity share: $37.67 <======

So EV/oz is more than three times higher than what CGH sits at now.

The 2011 Liberium valuation of Chaarat mentioned that "average value of an unfunded Central Asian explorer is US$32/oz", this would value CGH now at $224m, or 48 pence per share......

Kitco's "The Real Value of Gold in the Ground" is worthwhile reading, especially if you bare in mind these two facts: (1) Chaarat has RESERVES of nearly 5 million Oz and (2) CGH's high grades (even free milling Tulkubash has cut off grades above 0.5g/t),

I think the #1 conclusion here is that CGH, unfortunately, is being disproportionately discounted which possibly has a lot to do with Dekel and the team he has surrounded himself with, but also should CGH really get going and not c0ck it up somehow then the upside is H U G E

[casual47] 08/8/2017 23:11

Interesting table from a Kefi RNS earlier this year. Just another reminder of how crazy good Chaarat potential is....



In that RNS Kefi is referring to the average peer group EV/oz as being 26$/oz.

Currently Chaarat is valued at around 11$/oz, that's around 60% discount.

[casual47] 07/8/2017 17:44

Agreed.

I think the Kyrgyz gold mining industry in general is beginning in earnest now. There are a few projects, some near Chaarat, which are entering production about the same time as Chaarat. Until now it's mainly been soviet legacy mines (e.g Kumtor).



The China Gold mine perhaps being the most significant for Chaarat given the consolidation potential (it's within 10 miles of Chaarat). It could make sense to combine the deposits of Chaarat, China Gold and Highland Gold. It seems to me a lot of money can be saved by doing that.

China Gold:

[novicetrade68] 07/8/2017 17:22

I was tripling my holding here!

Only joking, just saw your post actually with Linda's reply, makes very good reading and more importantly think this could tick a very important box for any loan provider here? For the country too it makes sense to have at least one smelter and it will be good for Chaarat as well, so systems go here hopefully very soon.

[casual47] 07/8/2017 16:45

What's with all the small trades?

300, 915, 1000, 2000

That's between £50 and £345

[casual47] 04/8/2017 14:22

FYI, don't know if you guys spotted this in the recent RNS releases, but the Kyrgyz government is planning to build a gold smelter near Chaarat so they can boost the profit margin for their own state owned gold mine. It will have plenty of capacity so Chaarat would be able to use it also.

One of the things that in the DFS inflated the costs of going to production for the refractory deposits (not Tulkabash) was the added cost of either sending ore to China for smelting (which made it un-economical) or the large up-front capex of adding an oxidation unit.

Having a smelter nearby would take a huge chunk out of up-front and on-going capex costs.

As this piqued my curiousity I sent off an email to Linda asking her if she had an update on this Kyrgyz smelter project and if they would update the DFS to add the scenario where they could use a local smelter.

She got back to me today and copied the latest update on this as per the February RNS:

“The government has initiated plans to construct a smelter near Chaarat. The smelter is to be built by a recently announced JV between Eti Bakir (www.etibakir.com.tr ) from Turkey (80%) and KyrgyzAltyn, the Kyrgyz Republic state-owned gold company (20%). This initiative, a priority project as emphasised by the Chairman of the State Committee of Industry, Energy and Geology in the meeting with the Prime Minister, will enable the processing of concentrate in the country. This could materially benefit Chaarat by reducing its capex requirements in the second stage processing of refractory ore.”

Followed by:
"I am not aware of any further update on the plans to build the smelter. Chaarat’s focus is now entirely on the development of the Tulkubash Heap Leach Project. Once we are in production we will consider how to continue the development of the deposit including the refractory ore."

Perhaps I am reading more into this than there is but I think this means that anyone who had doubts that perhaps we would not be going into production should maybe reconsider.

I also asked if we will be seeing the CEO/Chairman do media events soon -- she replied they are planning investor events for this autumn.

[casual47] 02/8/2017 12:55

Hardly any trades. Mostly the odd 1000/2000/5000, just a couple of hundred pounds worth every other day or so.

I for one am happy for the ship to remain steady like this until we get news.

[casual47] 01/8/2017 15:19

Will be interesting to see what Abramovich-backed Highland Gold Mining will do with the Unkurtash gold deposit (which is next door to Chaarat). They released a scoping study couple months ago which showed it to be viable and profitable.

It has "only" 3.5Moz JORC at similar/lower grades to Chaarat (1.8g/t where I think CGH goes up to 4 g/t?). The scoping study projects an initial capex of US$322m. The project would revolve around two open pit mines.

I am not knowledgeable enough to fully compare/contrast but as far as I can see the main difference, apart from CGH having double the gold resources, is that CGH has the advantage of having ~1 million oz of heap leachable oxide (Tulkabash).

[casual47] 31/7/2017 18:30

With most current "Live" Kyrgyz gold deposits projected to be depleted this decade you'd think the Kyrgyz government would be keen to be supportive of new mines being brought online.

[casual47] 31/7/2017 18:28

Novice, yep, that's exactly the point being made in the SeekingAlpha article re. where majors are looking next to buy: deposits near to their existing mines.

Unless some big drama hits CGH then, imo, in the next 9 months either CGH will be starting construction to get ready for production following a project financing package or CGH will be bought out just before that happens.