Chaarat Gold Share Discussion Threads

[2pablo] 01/5/2020 16:22

RNS - JC ???

[jc2706] 01/5/2020 16:21

Gosh. There is a lot completed at Amulsar. I had assumed that the protests had prevented much work at all but most of the plant and infrastructure seems to be in place. And mining equipment!

Lydian must be rather peeved to say the least given the effort. I actually feel sorry for them as they seem to have followed best practice as far as I can see. Environmental processes should have been completed long before this stage.

You have to assume that the relationship with the government was not what it needed to be. If Chaarat do get the opportunity then they will have to ensure that it is! If they do it would add enormous value. If not it will be a headache. Not quite as much as for Lydian but enough to materially damage the share price.

[2pablo] 01/5/2020 16:12

PMTL holdings sold, who are they again?

[juju44] 01/5/2020 11:57

I'm waiting for the share price to do something after 2 years of no gain in a raging bull market for gold

[casual47] 01/5/2020 11:41

I'm waiting for

1. Q1 operational results

2. Significant shareholder list update (following the 50+ million new shares)

[casual47] 01/5/2020 11:40

Chaarat gets another mention re. Amulsar on a different Armenian news website (1in.am):

"For some time now, the rumors about the sale of Amulsar program by Lydian Armenia have been actively discussed. Even the name of the possible buyer company is mentioned. According to rumors, the company is Chaarat Kapan CJSC, which currently operates the Shahumyan Gold and Polymetallic Mine and the Kapan Mining and Processing Plant."

[casual47] 30/4/2020 15:50

JC - this presentation has probably the latest as I don't think they did much more after

[casual47] 30/4/2020 15:44

Presumably some of the initial capex for Amulsar was funded through equity so I wouldn't take the debt figure as the only indicator of what was spent on capex.

[casual47] 30/4/2020 15:35

Needless to say the Lydian shareholders will likely get zilch. The creditors will need to accept cents in the dollar with perhaps a continuation of some aspects of streaming/royalty and other agreements?

[casual47] 30/4/2020 15:29

Chaarat's objective may not necessarily be to be a 100% owner. They would want to be the operator but like the deal they proposed for Kumtor it could be e.g. 50/50 ownership?

[casual47] 30/4/2020 15:26

A huge chunk of the initial capex has already been covered AFAIK.

From last financial results ('000s):

Stream liability and debt 354,378

[jc2706] 30/4/2020 15:20

Is it in the public domain how much of that pre-production capital has already been expended? If they are as close to production as you have suggested, they must have spent a not inconsiderable sum already. $425m is not a capex I would particularly like to have to raise in the current environment.

[casual47] 30/4/2020 14:44

From Lydian's last presentation:

Annual Gold Production
Years 1 - 5 260,000 Ozs
Average Life-of-Mine 225,000 Ozs

Gold Reserves - Contained Ozs 2,606,000

Gold Resources - Contained Ozs
Measured & Indicated (2) 3,470,000
Inferred 1,280,000

Initial Mine Life 10 Years

Annual Tonnes Processed 10.2 Mtpa
Waste : Ore Ratio 2.2 : 1.0
Gold Grade 0.79 g/t
Gold Recovery 87%
Pre-production Capital $425 million
All-in Sustaining Costs ($/oz) $579

(2) Inclusive of Reserves.

[casual47] 30/4/2020 14:37

Some of the recent placing funds could be used to pay for the inevitable legal costs an M&A entails...

[casual47] 30/4/2020 14:36

If Chaarat were in play for Amulsar, would that mean that directors are prohibited from buying on the market?

[jc2706] 30/4/2020 13:14

She's a 'document controller'. It is on her Twitter profile.

[2pablo] 30/4/2020 11:17

What? As a roaming chess expert? Minnie Miner?

[jc2706] 30/4/2020 10:51

She works for the company.

[2pablo] 30/4/2020 10:26

Chess bird likes us, retweeting Artem's delight : Alexandra (Sasha) Samaganova
@ASamaganova


$CGH Chaarat Gold CEO Artem Volynets delighted with $13.8mln fundraise via
@proactive_UK

@ChaaratGold
#CGH

[casual47] 29/4/2020 21:21

Lydian's Monitor added a couple more documents to their website, one of which included this paragraph:

"During the extended Stay Period, the Applicants will conduct the activities provided for in the DIP Amendment (including the development of the Exit Plan Term Sheet), continue to negotiate a transactional outcome with the SISP Party, and advance their dialogue with the GOA in an effort to gain access to the Amulsar Project."

Whoever this SISP party is, it will soon become clear to them whether the GOA is on their side or not.

[casual47] 29/4/2020 16:57

Max, the 6 month thing seems to be a bit of an optimistic take. But then, first gold by q4 2021 was a bit optimistic also. In some ways I don't think they minded covid too much...

[casual47] 29/4/2020 16:47

Kyrgyzstan to significantly relax state of emergency rules for sectors such as construction and mining, from May 1st

[max244] 29/4/2020 16:47

Thanks Casual. A Lydian tie up would be pretty transformational.
Two lightweight observations: liquidity and volumes still miserable. 26.10-28.50 on screen and barely £10k trading on a big risk on day.
Second, and it matters little, but the slipping from 4Q21 to 3Q22 isn’t “6 months” in most people’s calendar (unless it literally was 31 Dec to 1 Jul). Even the Finncap note says 6 months. This still looks overdue a bit of a activity. Let’s see if anyone spots it as a laggard (who just had a successful raise).

[casual47] 29/4/2020 16:42

Armenia to remove lockdown within 10 days:

Premier: All domains of economic activity in Armenia shall reopen within next 10 days