Chaarat’s recent fundraise exceeded both its target and the equity it needs for the Tulkubash gold project (Kyrgyz Republic). With the equity now in place, the debt should be relatively straightforward to secure.
We expect the debt to close within 3 months and for construction to start mid-year to early 3Q, COVID allowing. Tulkubash’s finance structure will consist of US$30m in equity from Chaarat and Ciftay (Chaarat’s 12.5% Turkish partner), and US$80m in project finance. FY21 newsflow should ....
17 Feb 2021
Chaarat Gold Holdings - Major derisking of Tulkubash
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Chaarat Gold Holdings - Major derisking of Tulkubash
Chaarat Gold Holdings Ltd. (CGH:LON) | 3.0 0 0.0% | Mkt Cap: 21.5m
- Published:
17 Feb 2021 -
Author:
Cavendish Research -
Pages:
3
Chaarat’s recent fundraise exceeded both its target and the equity it needs for the Tulkubash gold project (Kyrgyz Republic). With the equity now in place, the debt should be relatively straightforward to secure.
We expect the debt to close within 3 months and for construction to start mid-year to early 3Q, COVID allowing. Tulkubash’s finance structure will consist of US$30m in equity from Chaarat and Ciftay (Chaarat’s 12.5% Turkish partner), and US$80m in project finance. FY21 newsflow should ....