Cover Mongolia: [BREAKING: Mongolia parliament approves taking 34% stake in Gatsuurt, royalty swap left to government]

Thursday, February 4, 2016

[BREAKING: Mongolia parliament approves taking 34% stake in Gatsuurt, royalty swap left to government]

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- BREAKING NEWS -

Thursday, February 4, 2016

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Mogi: it was previously agreed between Centerra and GoM to swap this 34% stake for 3% added royalty. Hoping this is still the case

Mongolia’s Govt to Proceed With Centerra’s Gatsuurt Gold Mine

By Michael Kohn

February 4 (Bloomberg) -- Mongolia’s parlt votes to proceed with Gatsuurt gold mine, owned by Toronto-based Centerra Gold Inc., according to live television broadcast.

* Parlt votes to take 34% of mine; can later swap stake for royalty, according to terms of bill

* NOTE: Centerra, Mongolia Agree on Mine Royalty Rather Than Govt Stake

* Project go-ahead “will likely result in some positive momentum for all Mongolia-related securities traded globally,” Bilguun Ankhbayar, chief executive officer of Mongolian Investment Banking Group, says by e-mail

(BFW)

Link to SKG statement

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