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Chaarat Gold Holdings Ltd - Gold mining company with an operating mine in Armenia, and assets in the Kyrgyz Republic - Says it is in the process of negotiating an extension to the maturity date of its $31.7 million conversion loan notes.
Adds it is in discussions with Xiwang International Co Ltd about the completion of its potential $250 million investment deal, which will support the development of Chaarat’s organic pipeline and facilitate external growth through value-added acquisitions. Investment will be in the form of a new issue of shares in Chaarat at a price of £0.20 per share, resulting in Xiwang holding 60% of the shares in the company.
Current stock price: 7.67 pence, down 12% on Monday
12-month change: down 37%
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