Centerra gold announces filing of a material change report

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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