Eurasia Gold Corp. (EGX:TSX.V)
Ivar Kreuger : Eurasia Gold Corp. (EGX:TSX.V)
- The company's president Baltabek Mukashev announced
speaking Thursday at the company's presentation
to investors in Almaty --
-- that currently it is engaged into
talks with three international partners,
- Standard Bank London, IP Morgan and Ernst&Yong
to select a consultant.
At the same time the company does not plan any
additional shares issue.
"All plans to place the company's shares will be performed
within 3 bn tenge issue already announced last year,"
As reported, the company started placing some shares of
the new issue in amount of 600 m tenge at nominal value
1 tenge for one share in late 2003 via KASE.
Currently 17.1 m shares at 3.5 tenge for one are already sold.
In late November 2003 Charaltyn shares were included into
official KASE "A" listing.
-- Charaltyn to double GOLD production in 2004
This year Kazakhstani based Gold producing company
Charaltyn intends to double its recovery volumes and
-- to produce 2.5 tons GOLD against 1.2 tons in 2003.
The company president Baltabek Mukashev made
such statement at the company presentation for
investors Thursday in Almaty.
Along with that he indicated that positive outlooks
rest on actual technological capacities of the company
and external factors dealing with
the world market of gold.
Thus, this year the company plans to continue its
activities on Mizek gold ore mine (eastern Kazakhstan)
which is the most unique and promising one not only
in Kazakhstan but also in Central Asia.
He added at the moment there is gold processing plant
on site with design capacity 3 tons p.a.
The major task of the company for this year is to
launch mobile complex at Zhaima mine (also in the east)
requiring 300 ml tenge investments.
Along with that Charaltyn is going to conduct
geological surveys on other deposits within
Charski gold ore belt requiring 70 m tenge
There are also some plans dealing with silver recovery
not only in Eastern Kazakhstan but also in
Northern Kazakhstan and CIS countries.
Commenting on company's financial results for 2003
Mukashev informed that under un-audited data, its
sales volume was 2.21 bn tenge, assets 5.119 bn tenge
(according to audited data of 2002 - 3.15 bn tenge),
liabilities 1.691 bn tenge (1.885 bn), equity
capital 3.427 bn tenge (1.165 bn).
Along with that manufacture prime cost in 2003
was $190 for ounce.
Meanwhile the company head has forecasted insignificant
growth of products prime cost for 2004 up to $200 for
ounce that first of all has to deal with tenge
Charaltyn founded in 1994 recovers gold on deposits
of Eastern Kazakhstan --
-- Currently its Gold reserves in entrails owned
by the company exceed 85 tons.
The region is among the world?s major Au producers.
- It hosts giant (>10 M oz) and
- medium to large orogenic
(mesothermal) Au deposits of -
- the world-class occurs -
- Pb-Zn (Ag-Cu-Au) deposits
- Maikain, Mizek, Tekeli, Shalkiya, Rudny Altai
- (VMS, sedex, sediment-hosted), with major
production from Rudny Altai.
Dates: 1996 to 1998
KCA conducted a complete laboratory testing program including
bottle roll, agglomeration and column leach tests
for this heap leach project.
KCA then completed a definitive feasibility study
for a 4000 tonne per day heap leach facility.
All elements of mining, processing, and
infrastructure were included in the study.
KCA provided detailed engineering
and construction management
services for site earthworks,
including the leach pad and
1997 Projected to produce -
80,000 oz gold during the first
full year of prduction -
feasibility study underway -
KAPPES, CASSIDAY & ASSOCIATES
(KCA) has been performing commercial testing
services aimed at providing data for the heap leaching of
gold and silver ores since 1972.
While widely known for its heap leach
range of metallurgical processes.
?Charaltyn? has a license for processing Charsky zone,
which covers 12 thousand square kilometers in
The company also owns Mizek deposit in East Kazakhstan
and 70% of LLP ??Nurgrim? that has a license for
processing Sugatovskoye and Butabai deposits.
Note - some of the largest undeveloped gold deposits
in the world, are a few gold projects in
Kazakhstan the new frontier
of gold expl. projects...
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