Armenia conflict having 'minimal impact' on Chaarat Gold mine

Chaarat Gold Holdings Ltd. (DI)

0.14p

16:55 15/08/24

-12.73%

-0.02p

Mining company Chaarat Gold updated the market on the current situation in Armenia on Wednesday, where it has an operating mine, in the wake of military action between Azerbaijan and the country.

FTSE AIM All-Share

712.28

14:25 23/12/24

n/a

Mining

10,149.74

14:25 23/12/24

-1.59%

-163.72

The AIM-traded firm said the military action started several days ago in the Nagorno-Karabakh region, which is around 150 kilometres away from Kapan.

After the events on 27 September, the government of the Republic of Armenia declared martial law in the country.

“The impact on the company's operations has to date been minimal,” the board said in its statement.

“Management and the team on the ground continuously monitor the situation, have business continuity plans in place to react quickly to any new developments and monitor supply chains on a daily basis.

“The company will provide an update on the situation as and when appropriate.”

At 1601 BST, shares in Chaarat Gold were down 7.37% at 30.8p.