Aim-quoted Chaarat Gold has maintained its production guidance of 55 000 gold-equivalent ounces from the Kapan mine, in southern Armenia, as a peace deal was this week agreed over the disputed Nagorno-Karabakh region.
On November 9, Russia brokered a peace deal between Azerbaijan and Armenia. Russia has also deployed resources to keep the peace in the region with an initial period of five years and a potential extension for another five years.
Chaarat says that the operational impact to the company has been limited and that management has focused on higher grade areas and treating additional third-party ore purchases.
Further, transport routes and concentrate shipments have seen minimal impact from the conflict.