Centerra Gold Filed Material Change Report Under its SEDAR Profile

Further to the loss of control, the company was forced to deconsolidate the results of the controversial Krygyz mine from its results for the second quarter of the current year.

SEATTLE (Scrap Monster): Centerra Gold Inc. announced that it has filed a material change report under its profile on SEDAR. This follows the earlier determination announced by the company in August this year that the series of coordinated actions by the Krygyz Republic administration had ultimately led to the seizure of the Kumtor Mine by government authorities and loss of control over the mine by the company.

Further to the loss of control, the company was forced to deconsolidate the results of the controversial Krygyz mine from its results for the second quarter of the current year. A loss of $926.4 million on change of control was recognized during Q2 2021. The results press release says that it has ascribed no value to its interest in Kumtor Gold Company and that it has already accounted the mine as a discontinued operation.

The company has provided full details regarding the above matters in its Q2 2021 earnings press release.

The material change report has been filed at the request of the Ontario Securities Commission (OSC) in connection with its review of the company disclosures related with the mine. The Staff of the OSC noted that the report will now be placed on the public list of Refiling and Errors.

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