Aim-quoted gold mining company Chaarat will raise at least $12-million through the issue of new shares in the company at 26p a share.
The company, which has assets in Kyrgyzstan and Armenia, said on Wednesday that it already had commitments from its major shareholders, all board members and senior management to invest $12-million by way of fresh investment or conversion of existing debt in the placing and that it was open to receiving additional offers on the same terms.