Chaarat Gold Share Discussion Threads

[jc2706] 19/2/2020 10:26

I confess that I am slightly disappointed by the resource update. Whilst the confidence is increasing there has been a marked decrease in resource and only a slight increase in reserve which still does not yet get to the magic 7 year number. At the same time there is very little update on the rest of the exploration.

I suppose that this was to be expected as they focus more and more on the actual pit development and raising funding around this. As such, I suppose that I am going to have to modify my expectations for a while. Which is a shame as the thing that I find most interesting here is the district scale of the deposit and watching it unfold.

[casual47] 19/2/2020 09:30

In case you missed this:

"The Company will be announcing its audited Full Year Results for the period ended 31 December 2019 in April 2020."

First time ever they released the annual results this early. Usually it's in June.

[casual47] 19/2/2020 09:25

Pabs will be pleased

They have set up a new corporate Twitter for the parent company:

Take a look at Chaarat Gold (@ChaaratG):

[casual47] 19/2/2020 08:29

So, news on corporate debt ($17m) refinancing in the next week?.....QRC?

[casual47] 19/2/2020 08:26

From the slides:

Current Financial Priorities

Tulkubash Project Financing further advanced
◼ A bank in detailed due diligence stage with other banks studying situation
◼ Indicative term of 5-6 years at attractive cost of capital
◼ Customary conditions precedent to closing, representations and warranties
◼ Typical project finance security package over Tulkubash with parent company guarantees
◼ Very attractive debt / equity terms indicated, with most of the required equity funded via Ciftay contribution
◼ Targeting close by Q2 2020 and announce the proposed lending syndicate in the coming months

Corporate debt maturing in Q1 2020
◼ Advanced discussions with multiple parties
◼ On track with negotiations to implement the solution in the next week
◼ Targeting close by March 2020

Potential Kapan refinancing
◼ Advanced discussions with multiple parties
◼ Options for increasing the quantum of debt secured against Kapan, made possible by the improved operating performance at the mine
◼ Targeting close by Q1 2020

Chaarat benefits from ample liquidity as a result of Labro working capital facility, Cash on hand and free cash flow from Kapan

[casual47] 19/2/2020 08:17

Debt has gone down by $4m since the Q3 webcast: Kapan debt repayment on the *principal* has reduced it by $2m (to $34m) and Labro principal has been reduced by $2m (to $3.5m).

Kapan has now been paid down by a total $6m in cash and another additional $10m through the Polymetal settlement.

[casual47] 19/2/2020 08:02

The very conservative approach to R&R definition (while nevertheless still increasing reserves, grades and recovery) shows a degree of confidence.

LOM will have increased a smidgen to about 5.75yrs?

[jc2706] 19/2/2020 08:00

I would add that they don't tend to raise at a discount.

[jc2706] 19/2/2020 07:59

Avsome1968,

If you look at the RNS today in the funding section it clarifies this without being totally specific.

[casual47] 19/2/2020 07:57

"discussions have moved to detailed due diligence with one project financing group who are familiar with the sector and region and could act as a sole lender".

Can't be too many of those (familiar with region, big enough to act as sole lender) - surely must be either EBRD or one of the Russian banks.

[jc2706] 19/2/2020 07:57

You missed out the last bit of that paragraph which is revealing:

"and could act as a sole lender"

[avsome1968] 19/2/2020 07:57

Guys what's cash position here will they need to do a Equity Capital Raise again to get the mine up and running and of year, or half an half with finance, been watching these for a while.

[casual47] 19/2/2020 07:37

Key phrase: "With regards to project funding, we are delighted to confirm that discussions have now moved to due diligence and documentation with a leading sector project finance group in the region"

[2pablo] 19/2/2020 07:36

Well a whole raft of facts and figures. Don't look bad and funding sounds nailed on

[casual47] 18/2/2020 16:34

According to the October presentation the "broker nav" average of 47p was "calculated using H&P model with Au price $1,330/oz".

They suggested this would increase to 62p for a gold price of $1500/oz.

Would be interesting to know what this rises to at $1600/oz.....

[casual47] 18/2/2020 14:12

There has been quite a bit of a buzz about QRC across the Atlantic. I do hope that Chaarat is one of their first investments as it would put a big spotlight on Chaarat and may encourage folk to buy shares in Chaarat too. Either way, I imagine we will see QRC move imminently on building their portfolio. Fingers crossed.

[casual47] 18/2/2020 14:07

News just in:

Queen's Road Capital Announces Completion of Private Placement

Hong Kong, Hong Kong--(Newsfile Corp. - February 18, 2020) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the "Company" or "Queen's Road Capital") is pleased to announce that it has completed the previously announced private placement of 132,615,753 shares at a share price of $0.40 per share for gross proceeds of $53,046,301. The shares sold in the placement are subject to a four-month resale restriction which expires on 19 June 2020.

Queen's Road Capital has raised a total of approximately $84,000,000 since completing its change of business transaction on 3 February 2020. These funds will be used for investment and for general corporate purposes. The Company has granted 14,500,000 incentive stock options to certain directors, officers and consultants. The options have an exercise price of $0.55 per share and a term of 5 years.

Queen's Road Capital intends to become a leading financier to the global resource sector. The Company is a resource focused investment company, making investments in privately held and publicly traded resource companies. It is intended that the Company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.

[jc2706] 18/2/2020 10:09

Casual47's suggestion is a good one.

[malcontent] 18/2/2020 09:16

thanks juju

shudda guessed that one....

hang on, that's ashanti gold on NYSE

is there a code that works on ADVFN charts?

[malcontent] 17/2/2020 20:49

is there a code to chart the gold price ?
eg CGH for Chaarat / UKX for ftse100, what's the #code for gold?

[casual47] 17/2/2020 18:22

I *didn't* need to wonder at what point you would scurry from under the floorboards.

[juju44] 17/2/2020 18:16

I wondered how long it would take the great know all to crawl out of his hole

[casual47] 17/2/2020 16:53

Trust Juju to come up with the most stupid question.