Final results for year ended 31 December 2020



Chaarat (AIM: CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia,  publishes its audited financial results for the year ended 31 December 2020.


Highlights for the year


2020 Group Financial Results


• Revenue up 12.5% in 2020 to US$76.0 million (2019: US$68.1 million), reflecting increased production and the recovery in commodity prices in the second half of the year.


• Group EBITDA of US$9.3 million in 2020 (2019: loss of US$12.8 million), reflecting the significantly improved operating performance at Kapan and lower overhead costs at both corporate and Kyrgyz Republic level. The Group achieved an operating profit of US$1.9 million (2019: loss of US$18.4 million).


• Cash and cash equivalents at the end of 2020 were US$6.9 million (2019: US$3.6 million). At 1 March 2021, the Group had cash and cash equivalents of approximately US$31.2 million, following the successful equity raise in February 2021 described below.

https://www.share-talk.com/chris-eger-cfo-of-chaarat-gold-holdings-limited-cgh-l-interview/


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