Chaarat Gold Shares Tumble On Kyrgyzstan Unrest;Ops Unaffected

14th Jun 2010 10:05

LONDON (Dow Jones)--Kyrgyzstan gold miner Chaarat Gold's (CGH.LN) shares tumbled as much as 15% Monday as investors worried ethnic violence in the country may affect its operations. The company said its mining exploration project was not affected by clashes between Kyrgyz and Uzbek minorities. At least 117 people have been killed and around 75,000 people have fled across the border into neighboring Uzbekistan, according to Russia's official news agency. "It's just business as usual," said Harry Lopes, the company's Financial Controller. "We're on the western side of the country." Chaarat gold is conducting a prefeasibility study to confirm the economic potential of its 4 million troy ounce Chaarat gold deposit. Chaarat's shares have recovered from the initial selloff. At 0858 GMT, Chaarat's shares were trading 5.1% lower at 43.40 pence. -By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412; [email protected] -0- (MORE TO FOLLOW) Dow Jones Newswires June 14, 2010 05:05 ET (09:05 GMT)