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I think someone may have picked this up before. Who are the...

  1. 10 Posts.
    I think someone may have picked this up before. Who are the intended audience for the Andash website and when does it get updated in relation to the main Kentor website?

    http://www.andashmining.kg/index.php/en/news/media-release/198-2012-12-12-05-21-50

    Simon Milroy, Managing director of Kentor Gold Ltd, came to Kyrgyzstan in order to assess further chances of investment
    Wednesday, 12 December 2012 11:19
    12 December 2012 managing director of the Kentor Gold Ltd Simon Milroy came to Kyrgyzstan in order to review the progress of the Kyrgyz project implementation, particularly about the Andash project. During the visit he is going to find out the official position of Kyrgyz authorities about the development of the Andash deposit and future perspectives of operation in the country.

    On negotiations with representatives of KR Government it is planned to discuss the performance of obligations by parties and possible options for acceleration of launching of the Andash project. It is expected that in the result of the visit relevant measures by the Board of Directors of the company will be taken which will be done for the protection of rights of company’s shareholders.

    Kentor Gold OJSC has projects in Australia (Burnakura and Gabanintha deposits, Jervois prospect), in the Solomon Islands (geothermal springs on Savo island) and in Kyrgyzstan (Andash deposit and number of tenements for geological prospecting). In Kyrgyz Republic company has been operating since 1997, $10.8mln company invested in geological exploration of the country and $42mln in development of mineral resources.

    As of today the Andash project is one of the six mining projects in the territory of Kyrgyz Republic ready for immediate development: all permissive documents at the designing and conceptual design stage have been obtained, heavy road building and construction equipment has been acquired, an order for manufacturing the major equipment has been placed, and the social package for the local people has been developed. Within the nearest year and a half the company is ready to invest $106mln in the project. According to the new legislation contribution to the State Budget for the period of production will be $273mln, and $41.2mln out of them will be transferred to the local budget.

    In 2011 the company was compelled to stop work at the deposit after Jogorku Kenesh gave a recommendation to the Government of the KR to stop development of the deposit because of potential but not proven threats to environmental security. This year international environmental expertise was conducted, which declares that the development of the deposit is possible from environmental point of view. But nevertheless up to now the Government of the KR officially has not responded.

    Moreover, in November 2011 Kentor Gold offered a 20% share of the Andash project to the Government of KR. Again, a response has not been received.
 
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