AKIPRESS.COM - Centerra Gold Inc. announced Wednesday that, at the request of the Government of the Kyrgyz Republic, it has agreed to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion (“Strategic Agreement”) previously entered into with the Government of the Kyrgyz Republic on September 11, 2017.

The First Longstop Date is the date by which all conditions precedent to the completion of the Strategic Agreement are required to be satisfied and it has been further extended by agreement of all the parties from January 31, 2019 to May 31, 2019.

The Company and the Government have made significant progress in satisfying the remaining conditions precedent to completion of the Strategic Agreement, including the re-issuance of Kumtor’s land use certificates and the resolution of a tax claim affecting Kumtor, the Centerra said in a statement.

"While the Company had expected that all relevant conditions precedent to completion would be satisfied prior to January 31, 2019, the Government has requested an extension to May 31, 2019 and the Company has agreed to the Government’s request. The Company will continue to pursue completion as soon as possible," the statement said.