Centerra Gold announced extension of Strategic Agreement with Kyrgyz Republic

The Company notes that it has made significant progress in satisfying remaining conditions, including the re-issuance of Kumtor’s land use certificates and the resolution of a tax claim affecting Kumtor.

Our opinion:

Currently we think that the extension of the term of the conditions precedent to the completion of the Strategic Agreement with the Kyrgyz Republic will not affect the Company’s fundamental target price valuation. We maintain our recommendation Buy and 12М TP 6,75 CAD/share.