Centerra Gold says delays hit Mongolia project

Centerra Gold Inc said it could not predict when it would start production at its Gatsuurt project in Mongolia due to continued delays in receiving permits and approvals

The company added that the outlook for 2012 does not include any production from the Gatsuurt project. Centerra said pending discussion of the water and forest law amendment in the Mongolian parliament made it difficult to predict the timing of the start of production at the Gatsuurt project.

The company also expects gold production to be impacted by four days in the first quarter, due to scheduled mill maintenance. Shares of the company closed at C$18.21 on the Toronto Stock Exchange.

Please note that this article and / or its accompanying media (picture, video, sound files etc…) has not been written, created or taken by M.A.D. Investment Solutions staff. It is not copyrighted to M.A.D. Investment Solutions nor does the company claim any ownership or rights towards the content and its accompanying media. The above article does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant as a source of information to readers and does not constitute a legal or biding agreement in any way, shape or form. Ownership of the content and its accompanying media remains with its legal owner or contributor but was sourced from Public Domain sources. If you are the owner of this content or its media and would like it replaced or taken out of our website, please contact us on: info@mad-mongolia.com. For contact and comments directly relating to the above article and or its accompanying media, please refer to the source as stated below.