Share Name Share Symbol Market Type Share ISIN Share Description
Chaarat Gold Holdings Ltd LSE:CGH London Ordinary Share VGG203461055 ORD USD0.01 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.35 -1.29% 26.80 97,140 16:35:05
Bid Price Offer Price High Price Low Price Open Price
26.50 27.10 27.70 26.50 27.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.05 -21.01 -5.32 129
Last Trade Time Trade Type Trade Size Trade Price Currency
16:14:48 AT 1,200 27.70 GBX

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Date Time Title Posts
23/11/202016:23Chaarat Gold Holdings (AIM: CGH)10,974
21/5/201212:08Talks with Government-

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Chaarat Gold (CGH) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-12-01 16:14:4827.701,200332.40AT
2020-12-01 16:14:2927.591,200331.08O
2020-12-01 13:45:3927.702,130590.01AT
2020-12-01 13:18:5626.601,974525.08AT
2020-12-01 13:18:4526.711,974527.26O
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Chaarat Gold (CGH) Top Chat Posts

Chaarat Gold Daily Update: Chaarat Gold Holdings Ltd is listed in the Mining sector of the London Stock Exchange with ticker CGH. The last closing price for Chaarat Gold was 27.15p.
Chaarat Gold Holdings Ltd has a 4 week average price of 22p and a 12 week average price of 22p.
The 1 year high share price is 41p while the 1 year low share price is currently 20p.
There are currently 482,152,855 shares in issue and the average daily traded volume is 61,802 shares. The market capitalisation of Chaarat Gold Holdings Ltd is £129,216,965.14.
jc2706: So now we know that goldbug is juju44 or at least juju44 has read LSE and has felt that what was posted may make him look intelligent. Probably the latter as we have no historical evidence that juju44 can post anything vaguely intellectual. Just 'why share price not go up?'
jc2706: It is interesting to see the comments on here today. It would seem that these are more about the share price than the performance of the company. In my experience these can often become disconnected but they cannot remain so indefinitely. At some point the share price will come to life. The fact remains that Kapan has been progressing since it was bought and will likely be the engine of growth for both the wider company and the share price for the next six months or so. This will be on the back of rising gold and silver prices (but I believe that copper and zinc will also join the party) as well as further performance increases. Don't forget that Kapan produces 20 times as much silver as gold (strangely I have a personal target of the gold to silver price ratio of 20). Thereafter Tulkubash should take up the running with the initial impetus being funding. That should act as the trigger for the market to start focusing on the reality rather than the theory of Tulkubash production.
casual47: Pabs, I have, in the past, set shares to sell on a limit trade at e.g. 39p when the quoted mid shareprice was below that. What happened was that the AT buyers took my limit trade and by doing so pushed the share price up. 39p was the highest trade for that day so while I sold my shares at that price those trades appeared to be a buy.
casual47: Not sure what prevented Labro from making purchases earlier on but if they had timed it to coincide with the POG move from 1800 through to 2000+ then they could easily have driven the shareprice well into the 40s and we might have seen a good chunk of new retail investors hop on board too, making the share price support a lot more sustainable as new hands replaced older hands at higher price points. Seems a wasted opportunity.
2pablo: I've been surprised how HUM has taken so long to re-rate since it went into production a couple of years back. The free cash flow it is now generating I think justifies a considerably higher share price and I think Kapan should give us more of a lift. Wasn't aware that HUM had that much exploration potential, Casual. With PoG so high we are surely generating so much more cash than at $1550 an oz levels. Not sure how our overnight share price has plummeted to 34.8p when zero trades were at that level or below, but that is our mid-price??? Mr A has certainly done very little with his waiver again. I've also noticed we do so little volume each Friday. Seems quite regularly very low even zero on a Friday
casual47: JC, it's a two-edged sword. On the one hand, it gives us PIs some degree of "insurance" that no matter how far the share price drops the shareprice is likely to gravitate back to 36-38p. However, on the other hand it completely destroys any incentive for PIs to buy shares at higher price points and even encourages us to trade the shares: buy the dips, sell at 36-38p, rinse and repeat. If Mr. A doesn't want to buy his shares at averages greater than 38p then why should we?
richgit: At this point in time it looks like we are going to see Gold beyond $2400 by year end. I genuinely look forward to buying more CGH when it has solidly held into my 50p next buying target. Having bought more of most of my UK listed picks,I was once again left with buying Canadian listed stocks to spread risk,where I would point out there are dozens of high quality Gold related stocks going for Peanuts (IMHO) Hopefully I will have good reason to considerably up my stakes in CGH and SHG. I haven`t sold a single share in CGH and certainly happy to patiently hold this potential Gold Giant,as so far everything is on track. When the $Multi-Billion valued Gold producers prove what is their ridiculous undervaluations,the likes of CGH will look so seriously undervalued. IMHO
2pablo: Incredible run lately for my pf particularly from CGH and my Ozzie goldie CAI. Should I be booking these gains? Surely Casual and JC, you’re pf’s are getting heavily loaded on CGH? Must have a look at that Presentation Casual, thanks. Difficult to get one’s head around so many loans, refinancing, etc. Does seem a bit like ‘spinning plates’ sometimes. We haven’t had any bad news(touch wood) for ages now and Artem does seem really good at managing any. I mean 6-month Covid delay went without a murmur against our share price Sure Dekel would have announced a ‘disaster̵7;.
casual47: In the first instance any II who wants in will try to buy via e.g. placing rather than on the market, imo, as there is no way they can acquire a meaningful number of shares on the open market without paying (too much of) a premium. There will probably be scope for either a placing and/or a convertible debt arrangement later in the year (not much more than $10m, imo, if it is just to cover normal expenditure and provide a comfortable buffer, more if there is an M&A, refinancing or Tulkubash funding deal) So realistically, imo, we will be left with either: 1. Rerating event (finance/funding deal, M&A etc) 2. Private shareholder frenzy (I.e. not just us happy few....and Juju) 3. Labro buys 4. Mysterious AT buyer(s), not Labro, who have already at least on one occasion before moved the share price from 20s to high 30s. Both Labro and Mystery AT have so far appeared happy to stick to high 30s but they can very easily push it well into the 40s. We know the loan notes convert at 36p and they mature next year, so at some point it would be desirable from a management point of view to entice these holders into converting. The share price should be well above 36p in that case (taking into account liquidity). The Ciftay JV puts a valuation of ~31p on the Kyrgyz assets. If you believe that production will happen then that gives a good starting value and depending on e.g. the project finance structure and gold price it could be worth a lot more. If you are more pessimistic then that 31p could shrink all the way down to zero, of course. Kapan alone is worth up to 26p at current gold prices, imo, maybe 18p to be on the more conservative side (gold at ~$1600-$1650/oz longer term). 13p if you believe the gold price is set to go back to $1500/oz longer term. News that funding for Tulku is agreed should instantly put the 31p in the bank with plenty of upside.
casual47: Chaarat Gold* (LON:CGH) 34p, Mkt Cap £158m – Flash Note – Kapan is FCF positive and Tulkubash is on course for first gold in Q4/21 BUY – 44p (from 42p) FY19 Kapan output update – production up, AISC down and EBITDA generation ramping up through 2019 The Kapan polymetallic operation in Armenia produced 60koz GE, +7%yoy (including 12 months of output) at $1,040/oz AISC (oz gross), -14%yoy, last year on the back of higher throughput helped by better mining rates and an improvement in recoveries in the grinding and flotation circuits more than compensating for slightly lower gold grades. Mining fleet availability improved through H2/19 while retendering of all services and goods that brought previously outsourced contracts in-house yielded cost efficiencies. Underground development meters climbed to >23,000m, +16%yoy, increasing the number of mine faces that in turn should help with mining flexibility and mining rates moving forwards. Kapan Revised Mine Plan is implemented with 2020 guidance for 60koz GE and $20m in EBITDA at $1,400/oz Au, $6,000/t Cu and $2,400/t Zn prices The seven year Life of Mine Plan based on the latest mineral reserve of 4.5mt at 3.26g/t* GE for 471koz GE has been put in place with 2020 guidance at 60koz (gross) production, $1,121/oz (pre-tax, per oz payable) AISC and $20m EBITDA (using MRE commodity price forecasts). Adjusting for our price deck (see table below) we estimate Kapan to produce 57koz GE (gross) at $1,162/oz AISC (pre-tax, per oz payable) generating $25m, including $1m assumed contribution from 3rd party concentrate utilising spare plant capacities. FCF post guided $4m in maintenance capex and $2m in taxes is expected to come in at ~$19m. FCF generated from the mine covers the Kapan acquisition loan repayments and interest expenses as well as offers an opportunity to refinance other liabilities of the Group. On our estimates, Kapan NPV8% stands at $141m or 23p/share accounting for ~40% of the Chaarat assets portfolio value with stronger commodity prices and adjustments to the USDGBP exchange rate compensating for higher operating costs. As previously stated, we run Kapan economics on +10y LoM through to 2030 reflecting the scope to expand the current mineral inventory given 7.6mt at 5.01g/t included in the Inferred mineral resource category (ie outside the mine plan). Tulkubash development works to accelerate once project funding package is closed in Q2/20 with first gold pour remaining on target for Q4/21 At the Tulkubash heap leaching gold project in Kyrgyzstan, the team is gearing up pre-development works ahead of $80m debt funding completion in Q2/20. The equity component of the $110m capex is covered by the Ciftay project level investment of $31.5m in return for a 12.5% interest in the Kyrgyzstan portfolio of assets, implying NAV for Tulkubash and Kyzyltash of $252m. Access road has been upgraded, earthworks equipment mobilised, 360-man camp installation commenced for completion in Q3/20, ore haul road and stockpiling platform construction finished, and detailed design of leaching heaps, crushing circuit and ADR started. Drilling at Tulkubash consistently intersects mineralisation with nearly 3/4s of the prospective 24km trend remaining untested The latest mineral reserves estimate released in Feb/20 stands at 24.6mt at 0.95g/t for 749koz (Jan/20) marking a 60% increase in contained ounces at similar grades on an Apr/18 estimate of 468koz at 0.91g/t reflecting some 40,000m of drilling. The focus is to extend the life of mine at Tulkubash to at least 15 years through a multi-year drilling programme proving up shallow oxide mineralisation running along the NE strike. The team is planning to update the mine plan accommodating the latest mineral reserves in due course. Life of mine extension drives the Tulkubash value appreciation At ~4.9mtpa throughput rate, the current mineral reserve covers five-year mine life that, judging from latest exploration results, is likely to increase delivering improved project economics. We estimate Tulkubash to run at 110kozpa and $932/oz AISC (pre-tax) potentially generating $67m in EBITDA and $60m in FCF ($1,500/oz) per annum once fully ramped up using updated operating parameters including slightly better feed grades (0.95g/t v 0.92g/t) and gold recovery rates (73% v 69%) as well as higher waste stripping ratios (3.9x v 2.6x). While we look forward to mineral resources/reserves update, we continue to value Tulkubash and Kyzyltash assets using the Ciftay investment implied NAV at $221m or 36p/share, equivalent to ~60% of the Group NPV. We also highlight that the deal was agreed in Q1/19 when gold traded around $1,300/oz levels vs current >$1,600/oz. Near term news flow and catalysts Q1 Kapan operating update FY19 financial results Tulkubash debt funding update in Q2/20 Mar/20 $17m loan refinancing update Expansion of the resources/reserve base at Tulkubash and Kapan Valuation We have updated our target price to account for new commodity price forecasts, changes to production and operating/capital costs profile as well as amended long term GBPUSD exchange rate (1.3 from 1.4) arriving at $267m or 44p/share and reiterating our buy recommendation. Source: share price Angel, Company *Reserves used$1,400/oz Au, $17.0/oz Ag, $6,000/t Cu and $2,400/t Zn commodity prices for conversion coefficients *SP Angel acts as Broker to Chaarat Gold
Chaarat Gold share price data is direct from the London Stock Exchange
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