Chaarat Gold CEO steps down

Exploration and development company Chaarat Gold revealed on Monday that chief executive Mike Fraser would be stepping down as a director of the company.

Chaarat said Fraser's six-month notice period had been waived, making his resignation effective immediately.

The AIM-listed group added that until the appointment of Fraser's successor, executive chair Martin Andersson and chief financial officer David Mackenzie will lead the business.

Fraser said: "Following the disposal of Kapan and the near-term focus on the development of Tulkubash and Kyzyltash it is an appropriate time to move forward with a simplified leadership structure for the company. I would like to thank Martin Andersson, the board, and the team at Chaarat for their support and guidance and wish Chaarat all the best in the future development of the company."

As of 1015 BST, Chaarat shares were down 0.51% at 3.94p.

Reporting by Iain Gilbert at Sharecast.com