Kyrgyz court ruling roughs up Centerra--THREE KUMTOR LICENCES DEEMED INVALID

摘要

Centerra Gold's (CG-T, CAGDF-O) share price was hammered recently, after a court ruling against it coincided with the departure of two key members of its management. And while Centerra's director of investor relations, John Pearson, insists the two events are not connected, the company's shares fell hard on the news, dropping 27 percent or 1.72 dollars to 4.77 dollars on roughly 1.7 million shares traded. Shares had recovered somewhat to 5.25 dollars apiece by presstime, but that's still a long ways off from the 10 dollars-range they had traded in as recently as May 20. The key driver to the fall is clearly the Kyrgyz lower court ruling, which deemed three of Centerra's licences at the Kumtor gold project, in Kyr-gystan, to have been issued improperly.