Loading ...TORONTO, Nov. 19, 2021 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has filed under its profile on SEDAR a material change report related to the previously disclosed determination made by Centerra on August 9, 2021, that a number of coordinated actions taken by the Kyrgyz Republic had ultimately resulted in the seizure of the Kumtor Mine by the Kyrgyz Republic and a loss of control of the mine by Centerra. As a result of the loss of control, the Company deconsolidated the results of the Kumtor Mine from its results for the second quarter of 2021, recognized a loss on the change of control of US$926.4 million in the second quarter of 2021, ascribed no value to the Company’s interest in Kumtor Gold Company, its 100% owned subsidiary that holds the Kumtor Mine, and is now accounting for the Kumtor Mine as a discontinued operation. Full details regarding these matters are contained in the Company’s August 9, 2021 second quarter earnings press release.
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