Gold Price USD 1257.50 /oz (AIM:CGH)21.13p

Directors and Senior Management

The primary goal of the Directors of Chaarat Gold Holdings is to enhance shareholder value by profitably realising the value of the Chaarat gold deposit.

Martin Andersson

Non-Executive Chairman

Appointment:  1 October 2016

Martin Andersson

Past roles

A graduate of the Stockholm School of Economics and HEC Paris, Martin worked in mergers and acquisitions at Booz Allen Hamilton and advised the Russian Government on its privatization programme. In 1993 he co-founded Brunswick Brokerage – a Moscow based investment bank that was later sold to UBS – initially holding the position of CEO and from 1999 as Chairman of the joint venture, Brunswick UBS Warburg. Between 2006 and 2013 he was a shareholder and served on the Board of Siberian Coal Energy Company (SUEK), one of the largest thermal coal producers in Russia.

Brings to the Board

Martin first invested in Chaarat in 2011 and he intends to be a long term and supportive shareholder. He brings to the Board his significant experience of Russia and the region and his contacts from an extensive network.

He is a member of Chaarat’s Audit Committee and the Business Development Committee.

Other commitments

Martin manages an active portfolio with an interest in real estate, financial services and information technology. He is currently a director of Brunswick Real Estate S.A.R.L., Cabo Delgado Investments Limited and Central Atlantic Investment Holding LLC.

Robert D Benbow

Chief Executive Officer

Appointment:  10 July 2017

Robert D Benbow

Bob’s primary responsibility is to develop and build the Tulkubash Project and oversee mining operations once in production. During his 30 year career Bob has worked with junior exploration companies to bring them into production and transform them into operating companies. He has taken three green field gold developments into production and from 2007 he served as the Vice President and Country Manager of Alacer Gold Corp.’s Çöpler Gold Mine in Eastern Turkey which has produced over 1 million ounces as one of the lowest cost producers in the world.

Bob built a team of expatriates and Turkish nationals to execute the successful start-up of Çöpler, which was initially developed as an open pit heap leach operation. The Çöpler mine is now moving into development of the refractory ore contained within the deposit. The two similar stages in Chaarat’s development will benefit directly from Bob’s relevant experience.

Pete Gardner

Chief Financial Officer

Appointment:  1 December 2017

Pete Gardner

A Chartered Accountant and qualified Corporate Finance professional, Pete’s experience will be invaluable as the Company transitions from its current stage of development to becoming a gold producing company. He joined Chaarat’s senior management team in October 2017.

From 2009 to 2016, Pete was Finance Director of Amara Mining plc until its sale to Perseus Mining Limited.

His immediate priorities will be to lead the already well advanced project finance process for the construction of the Tulkubash Heap Leach Project, in conjunction with the Chairman Martin Andersson and Endeavour Financial, and enhance Investor Relations activities.

He will also be working with Linda Naylor, the Finance Director, and the finance team on upgrading the financial reporting systems to ensure these meet all necessary requirements in the transition from exploration to construction and production.

Linda Naylor

Finance Director and Company Secretary

Appointment:  1 July 2009

Linda Naylor

Past roles

Linda is a graduate of the London School of Economics and a Fellow of the Institute of Chartered Accountants in England & Wales. A former partner in Grant Thornton UK LLP, her experience gained over more than twenty years included working as a nominated adviser in the Capital Markets team and as an audit partner specialising in the natural resource sector.

Brings to the Board

Experience of capital markets and junior listed companies combined with depth of experience in all aspects of the finance function.

Richard Rae

Senior Independent Non-Executive Director

Appointment:  10 December 2013

Richard Rae

Past roles

As a managing director of ABN AMRO, Richard was responsible for the team engaged in research, sales and trading of Mid and SmallCap equities. In this role and before that as Head of UK Smaller Companies Research & Sales, he managed the liaison with the corporate broking and financial advisory departments.

Brings to the Board

Richard is an experienced City professional who brings his contacts and in depth understanding of the equity markets to the Board of Chaarat which will assist in the Company’s engagement and communication with its shareholders.

A Chartered Accountant, Richard is Chairman of both Chaarat’s Audit and Remuneration Committees.

Other commitments

He is a non-executive Director and member of the Audit Committee of Aberforth Smaller Companies Investment Trust plc, the largest investment trust within the UK Smaller Company sector and blur Group PLC.

Dorian Nicol

Non-Executive Director

Appointment:  13 November 2017

Dorian Nicol

Past roles

Dorian (known as Dusty) has a broad industry experience at every stage of the mining process – from exploration to construction and development and management of mines – during his 40 year career. He has built multi-disciplinary teams in a variety of cultures. Dusty will be instrumental in working together with the CEO and the management team in realising the potential of Chaarat’s plans for the Chaarat Deposit, both in terms of the construction program for the heap leach operation as well as further exploration of the Tulkubash oxides. His experience with refractory ore will be invaluable to Chaarat when the oxide resource is in production and the Company seeks to expand further and develop the very substantial Kyzyltash refractory ore resource.

Brings to the Board

A hands on approach to support the exploration and construction of the Tulkubash Project and subsequent development of the Chaarat deposit.

Other commitments

President and CEO of Azarga Metals Corp

Martin Wiwen-Nilsson

Non-Executive Director

Appointment:  1 October 2016

Martin Wiwen-Nilsson

Past roles

Martin Wiwen-Nilsson spent 21 years at Goldman Sachs, where he was a Partner from 2008 to 2015. During his time there he held leadership positions in, amongst others, the global emerging markets business, the global commodities business and the global sovereign wealth fund business. He served on a number of executive committees, including the Investment Banking Operating Committee and the Growth Market Operating Committee.

Brings to the Board

A unrivalled list of contacts from his Goldman Sachs connections and a pragmatic approach to investor engagement.

He is a member of Chaarat’s Remuneration Committee.

Other commitments

As a director of Brunswick Real Estate S.A.R.L he is closely associated with Martin Andersson.

Gordon Wylie

Non-Executive Director

Appointment:  13 November 2017

Gordon Wylie

Past roles

During his seven years as a member of AngloGold Ashanti’s senior management team, Gordon was responsible for their global exploration programme, part of which included moving into new prospective, higher risk geographical regions. Gordon has been non-executive Chairman of Lydian International since its inception where he has overcome the challenges involved in moving an exploration company on to becoming a development company with a clear path towards production. Lydian is constructing a mine at the Amulsar open pit, heap leach gold project in Armenia. He is also familiar with Endeavour Financial who are assisting with Chaarat’s financing.

Brings to the Board

More than 41 years in the mining industry and directly relevant experience of growing companies from exploration to production.

Other commitments (non executive)

Chairman of Lydian International and director of Avocet Mining.

Frank K. Fenne

Head of Geology

Frank K. Fenne

Frank will oversee the expansion and development of the Tulkubash oxide resource to provide an optimized feasibility study. He will manage the collection and interpretation of geologic data to meet JORC reporting standards. Frank will also manage the exploration of the extensive area of prospective ground within the Chaarat licenses.

Frank is a graduate of the University of California with a B.S. in geology followed by a M.S. from the University of Idaho. He brings to the company over 30 years of experience in exploration, project development, and mine operations. He has managed exploration and development projects in the western U.S., Mexico, and in the Philippines. As the Vice President of Exploration for Vista Gold Corp., he planned and managed a staged development drilling program in Australia that resulted in 5.5 Moz Au in reported reserves and added 6.5 Moz Au in total resources. As Technical Services Manager at the Kinross Round Mountain Mine, he developed plans and managed feasibility studies that resulted in a pit expansion that added five years of mine life and 2.4 million ounces to reserves.

Alexander Novak

Chairman Chaarat Zaav

Alexander Novak

Alex is a graduate of the Kazakh Polytechnic Institute. He has assisted companies investing in the Kyrgyz Republic in various aspects of finance, administration and representation with the authorities since 2000. He has more than 25 years of experience in all aspects of business management in Central Asia including negotiations with governmental institutions, contractors, preparation of development plans, monitoring of operations and public relations.

Davron Vakhabov

General Director Chaarat Zaav

Davron Vakhabov

Davron is a Project Management Professional and holds an Executive MBA degree from the University of Sheffield. Davron brings over 10 years of extensive international contracting and projects management experience which include various project management positions in Alacer Gold Corp’s Çöpler Gold Mine where he was a part of original mine construction and then was responsible for all plant and heap leach pad expansion projects. Prior to joining Chaarat, Davron held a position of an area manager responsible for infrastructure at Lydian International’s Amulsar Gold Project in Armenia.

Turat Usubaliev

Deputy General Director Chaarat Zaav

Turat Usubaliev

Turat graduated in Geological Prospecting from the Frunze Polytechnical Institute, (now the Kyrgyz Mining Metallurgical Institute) in 1989. He has over twenty years of geological experience in Kyrgyzstan and joined Chaarat originally in 2007.

He began his career in 1989 as the Jerooy Exploration Group’s Geologist and joined their expedition in the north of Kyrgyzstan. He went on to work as a geologist on the Jerooy Gold Project. Following the completion of his MSc at the Shimane University in Japan, where he carried out research into mineral compositions in the Jerooy region, Turat continued his work in Kyrgyzstan with Kumtor Operating Company. During his six years with the company he progressed to the role of Chief Geologist, before accepting a new role, that of Senior Geologist, with Frontier Mining in 2004, managing their explorations in Kazakhstan. He returned to Kyrgyzstan in 2006 to work as Chief Geologist on the Jerooy Gold Mine before joining Chaarat. He accepted a position as Vice-President of Centerra Gold in Toronto in 2012 and returned to Chaarat in August 2013 as Deputy General Director with responsibility for community relations.