Aldebaran Resources stock hits new high on significant resource boost
The company has begun working towards the first PEA on the Altar project, to be completed in the second quarter of 2025.
Shares of Centerra Gold Inc (TSX:CG) were falling almost 8% on Thursday morning after the miner announced one of its directors had quit.
The Canadian company’s release stated that Niyazbek Aldashev, a Kyrgyzstan-based independent member of Centerra’s board, had stepped down one day after Kyrgyz lawmakers decided to review the gold company’s contract for its Kumtor mine.
Aldashev, a Bishkek-based lawyer, was the co-chair of the company’s corporate social responsibility committee.
The open pit gold mine, which accounts for 12% of the Central Asian nation’s economy, was given the green light under Kyrgyzstan deposed leader, Kurmanbek Bakiyev, who was accused of corruption.
Since Kumtor started running in 1997, it has generated $1.9 billion for Kyrgyzstan and produced more than 8.4 million oz of gold.
Centerra shares plunged to a two and a half year low last Friday after two days of debate in Kyrgyzstan’s legislature that revolved around a 300-page report saying the Canadian company was damaging the environment and stealing the country’s riches.
“The report makes a number of allegations including claims of substantial environmental damage by Kumtor,” said Centerra’s President and CEO, Ian Atkinson, in a news release.
“Judging from its summary conclusions, however, Centerra believes that the report’s findings are without merit,” he added.
