Name of the Project
Tulkubash oxide gold project.

Location
Kyrgyzstan.

Project Owner/s
Charaat Gold Holdings.

Project Description
An undated bankable feasibility study (BFS) has produced a 22.18-million-tonne reserve, an increase of 39%, at an average grade of 0.92 g/t gold over an initial mine life of 5.3 years.

The BFS envisages average gold production of 94 000 oz/y, with peak production during steady-state operations of more than 111 000 oz/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an improved after-tax net present value, at a 5% discount rate, of $70-million and an internal rate of return of 20%.

Capital Expenditure
The updated BFS has resulted in an overall capital reduction from $132-million to $110-million.

Planned Start/End Date
First gold production is scheduled for 2021.

Latest Developments
Ongoing exploration will be undertaken in parallel with the project development. Charaat is securing the remaining project financing, which is targeted to close in the third quarter of 2019.

Key Contracts and Suppliers
LogiProc (overall project management, mineral processing and metallurgical testing, recovery methods, project infrastructure, capital cost estimate, operating cost estimate, project execution plan), SMS (geological block model and associated data integrity, mining method review, economic analysis and ore reserve statement); WAI (environmental studies, permitting, social or community impact, geo-chemistry, hydrology, hydrogeology); and Ausenco (drilling, mineral resource review, sample preparation, data verification, analyses, security and heap-leach facility design).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Charaat Gold Holdings, tel +44 20 7499 2612 or email info@chaarat.com.