USD 74.08
EUR 81.18
RUB 1.04

First Longstop Date under strategic agreement on Kumtor extended

Centerra Gold Inc., at the request of the Government of the Kyrgyz Republic, agreed to extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the Government of the Kyrgyz Republic on September 11, 2017. Centerra Gold Inc. reported.

It is noted that the company and the Government of Kyrgyzstan have made significant progress in satisfying the remaining conditions precedent to completion of the strategic agreement, including the re-issuance of Kumtor’s land use certificates and the resolution of a tax claim affecting Kumtor.

«While the Company had expected that all relevant conditions precedent to completion would be satisfied prior to January 31, 2019, the Government has requested an extension to May 31, 2019 and the company has agreed to the Government’s request. The Company will continue to pursue completion as soon as possible,» statement of Centerra Gold Inc. says.

Initially, the terms of the agreement on Kumtor expired on April 20, 2018, but it was repeatedly extended by agreement of the parties.