Chaarat Gold Holdings (LON:CGH) said contractors have been selected to complete all components of a definitive feasibility study (DFS) for its namesake project in the Kyrgyz Republic.
The DFS is on schedule for completion by the end of 2014 and on budget, it said.
It selected Gustavson Associates as project manager following a competitive tender process.
The resource and reserve model is being updated by Gustavson to incorporate work from the 2013 drilling programme. The JORC-compliant resource is expected to be upgraded to indicated and measured categories from inferred.
Gustavson will also undertake the open pit and underground mine planning.
Resource Development was appointed as metallurgical consultant; Golder Associates (UK) will provide the geotechnical, hydrological and environmental studies; GBM Minerals Engineering Consultants will undertake the process and infrastructure engineering as well as a study on logistics.
“The new team members will be visiting site as soon as it opens at the end of April,” said Chaarat chief executive Dekel Golan.
“I am pleased that a number of projects in the Kyrgyz Republic have shown progress in recent weeks, as a sign of confidence in the country, following the positive progress made in the resolution of differences between the Kyrgyz government and Centerra concerning the Kumtor mine,” he added.