Chaarat says Tulkubash Project gets support from key Kyrgyz politicians

Chaarat Gold's shares have flown up almost 12% after the company received received unanimous expressions of support for its operations and investment plans for the Tulkubash Project in the Kyrgyz Republic from senior political leaders there.

"I have just returned from a visit to the Kyrgyz Republic during which I met the Prime Minister, the Speaker of the Parliament and two previous Prime Ministers," said chair Martin Andersson in a statement.

"I was pleased to see the general interest in attracting foreign direct investment into the country and the support for developing Chaarat in particular," Andersson added.

Chaarat's significant investment to date -- as well as its socially and environmentally responsible approach to developing the project -- was recognised and widely respected, he said.

"I am confident, and recognise as a significant achievement, that the company's founders and long-standing management team have positioned the company well for the next stage of development."

Andersson said the Bankable Feasibility Study (BFS) for the Tulkubash Heap Leach Project was on track for completion by the end of H1 2017, as previously announced.

The company also confirmed that it had appointed Robert Benbow as chief operating officer, bringing years of operating experience to the Chaarat team and a solid track record of successful mine development.

At 10:28 GMT, shares in AIM-quoted Chaarat were up 11.54% to 14.5p each.