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First Longstop Date under strategic agreement on Kumtor repeatedly extended

Centerra Gold Inc. has agreed with the Government of the Kyrgyz Republic to further 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. Kumtor Gold Company reported.

Recall, the First Longstop Date under the Strategic Agreement originally expired on April 20, 2018. It was extended for the 1st time until May 31, then for the second time — until June 22, and for the third — until July 23.

As the company noted, the First Longstop Date is the date by which all conditions precedent to the completion of the Strategic Agreement are required to be satisfied and it has been further extended by agreement of all the parties from July 23, 2018 to August 24, 2018.

«The Company continues to work with the Government of the Kyrgyz Republic to ensure the satisfaction of the remaining conditions precedent to completion of the Strategic Agreement, including the termination of certain legal proceedings and receipt of finalized land use certificates,» statement says.

The Speaker of the Parliament of Kyrgyzstan Dastanbek Dzhumabekov earlier stated that the Government was preparing a new agreement on Kumtor.

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