Shares of Centerra Gold have risen in price by 10.56 percent — to 10.78 Canadian dollars ($8.48) per share at the latest trading on the Toronto Stock Exchange.
On January 2, the President of Kyrgyzstan Sadyr Japarov, during a visit to the Kumtor mine, which was managed by Centerra until mid-2021, said that «good progress has been achieved in negotiations with the Canadian company.» «The parties are completing the discussion of an amicable agreement, including, among other things, a condition on the full transfer of the Kumtor Gold Company to Kyrgyzstan. The head of state expressed hope that an end will be put in the long-term disagreements between the parties in the very near future,» the press service of the head of state said.
The Canadian company made a statement, outlining its terms of the amicable agreement. Transfer of a stock of shares of the company, which is held by Kyrgyzstan, to Centerra is among them.
The Kyrgyz Republic holds 77,401,766 shares of Centerra. As a result, after their rise in price, the value of the stock of shares held by Kyrgyzstan increased to $656,366 million.
