CGAU - Centerra Gold nearing settlement on Kumtor mine Kyrgyzstan PM says

Centerra Gold (CGAU +3.5%) is in the final stages of settling its dispute with the Kyrgyzstan government, which nationalized the company's giant Kumtor gold mine last year, Prime Minister Akylbek Japarov said, according to Reuters. Centerra launched arbitration last May after the government took over the mine for allegedly posing a danger to the environment, allegations the company has denied. Last month, Centerra said it was in talks with the government for an out-of-court settlement, saying it should receive ~26% of its common stock held by Kyrgyzstan. "Centerra's capital structure would materially improve and valuations would be extremely compelling" if such an agreement is reached, Scotiabank said in upgrading the stock.

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Centerra Gold nearing settlement on Kumtor mine, Kyrgyzstan PM says