Chaarat Gold Holdings is confident of first production from the Chaarat Gold Project in the Kyrgyz Republic in the first half of 2019. A feasibility study is expected to be available early in 2018.
The company’s chief executive Dekel Golan said that the Bankable Feasibility Study for the first stage Tulkubash open pit and heap leach project was substantially complete subject to the results of this summer’s drilling.
He said the local permitting process was also well advanced with most documents submitted.
The full study, including the results of this summer’s drilling campaign, is expected to be available in the first quarter of 2018. It will include an updated resource and reserve to extend the life of the mine.
“We expect to be able to deliver on our promise to be in production during the first half of 2019,” he said.
“The board remains convinced that the decision to proceed to production from the Chaarat project by means of the stage one Tulkubash Heap Leach Project is the best way to unlock the value of the Chaarat deposit.”