BVI company operating in Kyrgyzstan issued operational statement

Chaarat Gold, an exploration and development company operating in the Kyrgyz Republic, made an announcement for investors saying that the unrest in the south regions of the country did not affect company’s operations at Bishkek and in the north-west of Kyrgyzstan.

Chaarat gold project is situated in the Middle Tien Shan Mountains in the northern regions of Kyrgyzstan. The company has reported good progress at its Chaarat Gold project in recent months, with the completion of preliminary feasibility study in May and the renewal of the exploration license agreement on June 1.

According to company’s information, there had been no interruptions of its operations earlier this year. Also the previous revolution in Kyrgyzstan, which happened in 2005, did not cause the revision of government’s policy towards foreign investments and companies operating in the country.

Current exploration license of the project will run until 31 December 2012. The Ministry of Natural Resources of the Kyrgyz Republic had confirmed that all Chaarat’s obligations under the licence agreement had been fulfilled.

In May, the company reported the findings of the preliminary feasibility study at its Chaarat project. The preliminary feasibility study was focused on the Tulkubash zone of the Chaarat project.

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