LONDON, UK: Chaarat Gold, a gold mining company with development projects in the Kyrgyz Republic, has signed a memorandum of understanding (MOU) with the government of the country.
The MOU covers the Tulkubash and Kyzyltash projects, which have combined resources of over 6 million ounces of gold.
The MOU reinforces the Stabilization Agreement signed in 2019 and confirms the government’s commitment to facilitate the development of the Chaarat Projects and to increase investment in the country.
Chaarat has been working closely with the government to improve the investment climate and to promote the country’s initiatives internationally.
Chaarat is also progressing towards completing the financing of its Phase 1 Tulkubash project, which is expected to be by the end of Q1 2024. David Mackenzie, Chief Financial Officer of Chaarat, said: “The Company is pleased to see the continued progress being made by the Kyrgyz Republic in highlighting the country’s attractiveness to international investment. The memorandum of understanding actively promotes further development of Chaarat’s gold projects.”