“As soon as we receive official notification about denial of permission to pledge a license, we will make an administrative complaint to the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan, stating our position on this issue,” said Director of Alliance Altyn LLC Mikhail Shubin. According to him, a collateral is needed all…
The Russian central bank bought about 92 tons of gold in July-September, a quarterly record for the country, which is now selling dollar-denominated assets actively, the World Gold Council said in a report on November 2. Russia’s gold reserves exceeded 2,000 tons for the first time ever and now account for 17% of the global…
In July-September Petropavlovsk Plc, extracting gold at four mines in Amur region, obtained 102 thousand ounces, on par with the corresponding period of 2017. Pioner provided 30.2 thousand ounces of gold, Pokrovsky – 0.7 thousand ounces, Malomyr – 32.6 thousand ounces and Albyn – 38.5 thousand ounces. In January-September gold output dropped by 10% YoY,…
As of today, one seat in the Board of Directors of Canadian company Centerra Gold Inc. is vacant, press service of Kyrgyzaltyn OJSC reported. According to it, changes were made in the company’s board. Powers of a board member, Deputy Chairman of the Board of Kyrgyzaltyn OJSC for Economy, Finance and Investments Bektur Sagynov were…
Chaarat Gold Holdings Limited made a proposal for the all-cash acquisition of the whole of Centerra at a premium of not less than 35% above Centerra’s prevailing share price, statement of Chaarat Gold says. The proposed price amounted to 2 billion Canadian dollars (about $1.52 billion.) As the company said, “the ultimate objective of this…
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. The First Longstop Date was extended until January 31, 2019, statement of…
Kyrgyzaltyn OJSC commented on speculations about possible sale of Centerra Gold’s shares and Kumtor project to a Chinese company Shadong Gold. Kyrgyzaltyn sent a request to the Canadian investors to clarify the information. They replied that since Centerra Gold was a public company, it could receive various offers from third parties, including Chinese investors, about…
The Subsoil Use Licensing Commission denied Alliance Altyn’s application for obtaining permission to pledge a license for development of Jerooy gold deposit in a bank for taking a loan, the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan reported. The commission denied the application due to litigation over the accrued fines under the…