Centerra Gold Clobbered After Mine Deal Rejected

Centerra Gold (TSX:CG) fell up to 26 percent today after reports that Kyrgyzstan’s parliament rejected the company’s proposed settlement with the government over its flagship Kumtor mine, The Financial Post reported.

As quoted in the market news:

The proposed agreement would have converted Kyrgyzstan’s 32.7% stake in Centerra into a 50% interest in a joint venture company that would own the mine. But apparently, those terms were not generous enough for the parliament.

Click here for the full article in the Financial Post