Chaarat Gold Share Discussion Threads

[casual47] 13/3/2020 09:29

CGH held up quite well so far so perhaps it's just catching up to where others went.

[manxbean] 13/3/2020 09:25

What's with this morning's big drop? Closed down a little yesterday obviously and everything getting sold off in this market but doesn't look to be much volume? Is it mm's taking the price down?

[casual47] 12/3/2020 12:11

Norges keep a record of all their AGM voting and they only have one for CGH - the AGM last summer. This means they have become shareholders only in the last year.

(There was a GM in April last year and an AGM in summer)

[casual47] 12/3/2020 11:28

Norges have held since at least summer last year as they have declared their voting instruction at the last AGM:



Ticker: CGH

Meeting date: 26/07/2019

Record date: 24/07/2019

Meeting type: Annual

Security ID: VGG203461055

Management proposals
1 Proposal Accept Financial Statements and Statutory Reports
Mgt rec For
Vote For

2 Proposal Ratify BDO LLP as Auditors
Mgt rec For
Vote For

3 Proposal Authorise Board to Fix Remuneration of Auditors
Mgt rec For
Vote For

4 Proposal Approve Increase in the Aggregate Remuneration Payable of All Directors
Mgt rec For
Vote For

[casual47] 12/3/2020 11:22

Norges have declared their holding on their website. Chaarat is one of the only UK listed goldies of its peer group they hold (Apart from CEY, POG etc)

As of 31.12.2019 they held 2.86%

Norges Bank Investment Management holding:



KYRGYZSTAN: CHAARAT GOLD HOLDINGS LTD
HOLDINGS
Total invested
NOK 54,961,423
USD 6,254,643

Industry Basic Materials
Ownership 2.86%
Our voting 2.86%

[jc2706] 12/3/2020 11:18

I saw it in the latest presentation after you commented (not before - you are a useful source of information!). As they have not issued a holdings RNS, they must have between 2.57% and 3%. If they are buying then that would mean they can pick up a max of 2m shares (probably a fair amount less) before a TR1.

[casual47] 12/3/2020 11:02

JC - did you see Norges are holding?

I wonder if they participated in one of the placings last year. The RNS did make clear big name institutions were involved.

[jc2706] 12/3/2020 10:31

It is interesting. Most other goldies seem to be following the market lower to some extent but CGH seems to be bought on the dips without Mr A having to dip his hand in his pocket. A holdings notification would be a godsend.

[casual47] 12/3/2020 10:21

Based on the AT-attacks and the absence of Mr A holding RNS it seems obvious someone besides Mr A has been supporting the shareprice these last couple of weeks.

I hope it's an II. Maybe Norges Bank is building up? Won't be long before they reach 3% in that case...

[casual47] 11/3/2020 16:24

Mr A has so far never not bought. He may take his time but he will start buying and if he doesn't have enough time to get his fill he will get another waiver to follow immediately, like he did last year.

He may hold back because of closed period seeing as they will publish the FY results in April. If he doesn't buy during March then these may be out e.g. first week of April.

[jc2706] 11/3/2020 15:35

I doubt it. There has been some interest recently and MA keeps the share price underpinned with his buys or threats thereof.

[sparkyboy1] 11/3/2020 13:26

Is there any news up 6%

[casual47] 11/3/2020 09:12

I think we can all agree how excellent the Kapan acquisition was.

Makes a big difference having a good chunk of free cash flow and a solid asset to secure further debt against.

Kapan debt will be down to ~$32m in April. The NAV of Kapan should support expanding this debt by up to $20m, imo.

[2pablo] 11/3/2020 07:18

Strange bit translated at the end, "Hairdressers did not touch. I suggested not to touch the citizens." Still cheap haircuts out in the Kyrgyz if anyone needs one !

[casual47] 10/3/2020 12:59

Going on what I've read on twitter (via Google translate) it seems that today the Kyrgyz govt has approved increased taxes on miners. Chaarat will be exempt from these and any others for the next 10 years.

Still think this was an extraordinary concession by the Kyrgyz government and one which I doubt they will have made without heavy lobbying by forces rather bigger than Chaarat (imo EBRD...)

[casual47] 10/3/2020 09:08

It probably is the African one - can't imagine there being too many companies they can put in a pseudo chart like that. Even Euromax is in Macedonia.

Mr A is holding back from purchases. He has done this before. Is he waiting for news to be released?

Last time there was a big delay it took more than two months before the first holding RNS was released - in that time we had news on Kapan H1, loan note update, Polymetal loan note conversion, H1 interim results, Ciftay JV and upsizing of the $10m loan to $17.

08/07/2019 07:00 Grant of Waiver
18/09/2019 07:00 Holding in Company ====> first waiver purchase

[jc2706] 10/3/2020 08:02

Nope. Looks cheap though!

[casual47] 09/3/2020 15:40

Anyone know what this Orca Gold is which is mentioned in the peer group?

Google tells me it is an African miner which makes no sense at all.

[casual47] 09/3/2020 15:31

The new presentation:

[casual47] 09/3/2020 09:32

Don't know if the "total invested" is the money they put in or the value as of today (or 31/12/3019). If the former their average is around 36p?

[casual47] 09/3/2020 09:21

Norges Bank Investment Management holding:



KYRGYZSTAN: CHAARAT GOLD HOLDINGS LTD
HOLDINGS
Total invested
NOK 54,961,423
USD 6,254,643

Industry Basic Materials
Ownership 2.86%
Our voting 2.86%

[casual47] 09/3/2020 08:35

Still no holding RNS for Mr A. So perhaps it is IIs which brought us back to 37p?

Good to know Mr. A still has his full ~£1m waiver allocation at the ready.