Chaarat Gold Share Discussion Threads

[oli12] 12/2/2020 07:01

Drum roll please......Chaarat (AIM:CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, will release a FY19 Production, Operational and Financial Update on Wednesday, 19 February 2020.

[2pablo] 11/2/2020 19:26

Decent late show of a big Buy on Monday, about £61k

[casual47] 11/2/2020 12:07

20k shares traded across four AT trades for an average price of 39.01456 pence.

[oli12] 10/2/2020 18:49

The more I read (thanks Casual) the more confident I get that the EBRD will be part of the soon to be announced funding. Naturally nothing is guaranteed. The Fast Running Horse could be about to get a big boost. Let’s see. 50p + on EBRD funding.

[casual47] 10/2/2020 15:18

The disconnect between a valuation tethered in reality and one marooned in the mind of a PI can be rather huge.

But even for those of us who pay attention it can be quite hard. E.g. HGM has a near match in GV Gold in terms of their assets, EBITDA, annual oz production etc yet a consensus among Russian analysts appears to be that GV Gold is worth between 800-1000 million USD (they received a (now failed) bid from Fosun which was rumoured to be $1B). HGM's EV at its recent year high was valued just shy of $1.5 billion, which is a big difference. (Currently HGM is sitting around $1.2B - a 20% difference seems not unreasonable taking into account the UK listing etc)

[jc2706] 10/2/2020 14:20

I don't disagree that Australian assets are valued more highly but we are comparing to something that does not even have a defined resource, let alone production!

[casual47] 10/2/2020 14:19

I wouldn't go near it....

[max244] 10/2/2020 14:18

Interesting the massive difference in ownership of GGP vs CGH. One massive retail, one not.
GGP:
HL 23.5%
II 13.8%
Halifax 9.4%
Barclays 5.1%
Jarvis 5.0%
AJ Bell 3.8%

CGH still not captured the imagination of retail which could make a big difference when it finally does.

[casual47] 10/2/2020 14:16

Australian assets so automatically valued more highly than FSU with more folk and II willing to take a punt.

That said, there have been several expensive duds in Australia. Google ARX Gold.

[jc2706] 10/2/2020 14:08

Amazingly GGP is now valued more highly than CGH. It is interesting to compare their production and resources (zero in both respects for GGP).

[casual47] 10/2/2020 13:05

Defo a bit more liquid now

[rhuvaal2] 10/2/2020 10:02

Many thanks casual, and others, for most informative posts..

[casual47] 10/2/2020 09:53

A 20k share purchase spread out over 6 trades with an average price paid of 39.36p (range 38.80-39.60p)

Followed by two tiny trades at a much lower 37.20/37.55p.

Seems symptomatic of no liquidity - not much sales pressure to sell at 39p, not much buy pressure to raise the bid and take out higher priced sales offers.

[casual47] 09/2/2020 16:49

Article from 2017 about the EBRD lending $140m to Polymetal for their Kyzyl mine in Kazakhstan. (It's extendable to $200m)

Note the huge amount of waffle around the EBRD painting this loan as a way for them to improve the conditions of women in the Kaz heavy industry labour market.

For those who have been paying attention to the Kapan social media updates this will ring a few bells - for example this:

[2pablo] 07/2/2020 16:06

manx - @chaarat_kapan now has 5 followers, thanks. can't be bothered with @CZaav

Casual - you're a complete nutter for Chaarat !

[casual47] 07/2/2020 15:12

The VP for Corporate Development which I found on LinkedIn last week has now been added to the corporate website also - "you are either in front of Casual's posts or you are behind!" (You snooze, you lose!)

Patrick Henze
Vice President for Corporate Development & Investor Relations

Mr. Henze has more than 10 years of mining investment, M&A, corporate and project finance expertise in the metals and mining sector, gained in corporate roles, private equity and investment banking. He was previously Investment Manager of Swiss based Fusion Capital AG where he played a major role in the management and sale of Lynx Resources Ltd. for USD 403m, a JV with Orion Mine Finance and led all investment activity for the Fund. Prior to that, he was responsible for the London based origination of natural resources financing & advisory at UniCredit Bank AG within the corporate & investment banking arm of the group completing transactions from USD 20m to USD 750m. Mr Henze holds a M.Sc. In Finance & Economics from Technical University GSO Nuremberg and University Malaya Kuala Lumpur.

[casual47] 07/2/2020 14:51

Chaarat.kz and Chaarat.ru were both registered last year though are not in use....(Could have been registered by someone else, not necessarily our guys)

chaarat.ru is already registered*

created: 2019-04-08T06:53:09Z

chaarat.kz is already registered*

Domain created: 2019-05-11 04:23:14 (GMT+0:00)

[manxbean] 07/2/2020 13:47

@chaarat_kapan

Started January 2020 with 4 followers! Half a dozen tweets so far about community engagement, a bit of history of Kapan etc.

[2pablo] 07/2/2020 11:03

Chaarat Kapan twitter account ???

[casual47] 07/2/2020 10:23

Yep. It has been like watching puzzle pieces being put into place in real time.

Imo, the Kapan M&A was important not just so they are able to say they are a producer but also so they can demonstrate that they can do ESG and do it well.

Chaarat has been remoulded, step by step, into the image of what the ERBD considers the ideal company.....imo.

It's all realpolitik - there is still no bull market in the gold mining sector, despite the gold price, and Chaarat have basically done what they had to do to survive. Majority independent board, ESG focus.... all that stuff.

[manxbean] 07/2/2020 10:02

I think you're correct Casual, something is brewing. There is a lot more corporate image now also with the Chaarat Kapan twitter account and activity on linkedin which is focused on getting the corporate responsibility message out. It has to be the courting of the EBRD. Securing funding through the EBRD would be a huge gamechanger.

[casual47] 06/2/2020 23:16

The timing of this sort of stuff is not a coincidence, imo:

[casual47] 06/2/2020 21:12

This is Artem's presentation at MINEX Eurasia end of November last year. The link is at the timestamp which I think is most interesting



Transcript of the snippet from that timestamp:

"the remaining $80 million dollars we are in advanced discussions to raise it via debt (???Can anyone decode this word?) finance from one of the multilateral financial institutions and that is expected to close in the first quarter of next year, effectively enabling us to build this project without any further equity dilution"

He could have misspoken, but this could mean that they are only dealing with one lender e.g. EBRD?

Note: "multilateral financial institution" can only mean one thing -- something like the EBRD. The EBRD could of course further fan out the debt via syndications to other banks.

[casual47] 06/2/2020 18:13

The longer they are holding up the news the bigger the deal which I think is being done behind the scenes.

Perhaps it's not the loan notes being renegotiated which is holding up the news but the actual Tulkubash project finance itself?

Next week marks the halfway point of the first quarter......