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Centerra Gold Inc T.CG

Alternate Symbol(s):  CGAU

Centerra Gold Inc. is a Canada-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Turkiye, and other markets worldwide. The Company operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Oksut Mine in Turkiye. The Company also owns the Goldfield District Project in Nevada, United States; the Kemess Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United States and Canada. The Mount Milligan Mine is an open pit mine located in north central British Columbia, Canada producing a gold and copper concentrate. The Oksut Mine is located in Turkiye approximately 300 kilometers southeast of Ankara and 48 kilometers south of Kayseri, the provincial capital. The Molybdenum BU includes the Langeloth Facility in Pennsylvania and two North American molybdenum mines: the Thompson Creek Mine in Idaho and the 75%-owned Endako Mine in British Columbia.


TSX:CG - Post by User

Bullboard Posts
Post by 1crisisatatimeon Apr 14, 2015 9:33am
128 Views
Post# 23626684

Kyrgyz PM says "No Deal" to Joint Venture!

Kyrgyz PM says "No Deal" to Joint Venture!The PM has said No Deal for the joint venture after 2 years of negotiations. The Kyrgyz's now want a 'better' deal for themselves, because of the revised mine plan in March, which reduced the Kumtor reserves by 21% and increased forecasts incresed mining costs per oz. The kyrgyz's are also aware of centerra's other plays, including the joint venture with PG in Canada, and want a share of CG assets worldwide. By agreeing to joint venture, they gain 50% in Kumtor, but lose shares of CG, and any potential income from those assets. They claim all CG's investments are rooted in Kumtor cash, and they want a share. If/when they lose their appeal at MCCI on 16th in Moscow, and further appeal to Ontario Superior Court on June 29th in Toronto, they will not have any shares left to 'negotiate'. I can see no recourse at that time other than to nationalise their remaining asset? They are now 'in deep' because of their lack of decision making and also their illegal seizures of mining licences and assets in the Kyrgyz Rep which have a combined cost of nearly one billion, and the only asset available to attack is CG shares! Revolution coming? Anything's possible now!
Bullboard Posts