International law firm Watson Farley & Williams (“WFW”) has advised long-term client Chaarat Gold Holdings Ltd (“Chaarat Gold”) on the successful closing of the US$17m first phase of an up to US$100m convertible debt placement with both new and existing investors.
AIM-listed Chaarat Gold is a gold exploration and development company, whose key strategic goal is to become a leading mid-tier gold producer focussed in Central Asia and the former Soviet Union. This strategy is to be achieved via the initial development of its 7m ounce high grade Chaarat Gold Project located in the Kyrgyz Republic, and to be further enhanced by selective M&A in the region.
The WFW team advising Chaarat Gold was led by Partner and Global Natural Resources Head Jan Mellmann, working closely with Structured Finance Partner Rob McBride and Associates David Fraher, Emma Blake and Aimee Myhre, and supported by Corporate Partner Dearbhla Quigley, Senior Associate Jenny Hodges and Associates Andrea Bhamber and Fred Neville-Jones.
Jan Mellmann commented: “We are delighted to have once again advised our valued client Chaarat Gold on this important fundraise. Our ability to provide first rate capital markets and structured finance expertise, combined with a deep understanding of the mining and natural resources sector, ensured we were able to help our client successfully and swiftly close this transaction”.
Jan and the team previously advised Chaarat Gold on two placements of US$20m and US$15m in 2017 and 2018 respectively to develop the Chaarat Gold Project.