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Chaarat to buy Polymetal's Kapan operation

Kyrgyz Republic-focused miner Chaarat Gold Holdings will expand to Armenia after agreeing to buy Polymetal’s (LSE:POLY) Kapan project for US$55 million.

Alex Hamer
Polymetal held onto Kapan for only two years, spending US$35 million in the process

Polymetal held onto Kapan for only two years, spending US$35 million in the process

Chaarat still has to come up with at least $50 million in cash to complete the deal before February 15, 2019, and will pay a $10 million penalty if it cannot. The remaining $5 million of the purchase...

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