Fasanara Capital Credit Strategies Fund raised its stake in Chaarat Gold Holdings (LON:CGH) to 11.6% as it continues to invest in the exploration and development company operating in the Kyrgyz Republic.
Fasanara, a London-based asset management company set up in December 2011, has been steadily building its stake in Chaarat, crossing the 5% threshold last July.
Chaarat, which hopes to produce 200,000 ounces a year from its namesake gold project in the former Soviet republic, also announced that Rob Weinberg, a non-executive director since January 2011, intends to resign. His resignation will take effect on May 4.