Not smokescreen - new strategy of honest people, have spoken to them and this is my opinion. Centerra have had many problems through the years, this is the latest. This mine contributes about 13% of Krygyz's GDP (not sure of exact figure) and I can't see the government allowing production to be halted for long. Centerra have nothing to do with Chaarat. The Chaarat deposit is approximately 700 km away from Kumtor - the far west of Krygyz to the far east of Krygyz, so I cannot see these 'locals' having much influence there. Centerra has operated in Krygyz for 15 years and have incurred many problems.
I presume you do not hold any shares in this company.
The sell-off from 20p has been due to the smokescreen of the new strategy. Today all has been revealed as Centerra have effectively had Kumtor seized by the protesters as they block the only road in and have now cut them off from the grid. Shares were suspended whilst the news was released. The protesters have huge regional influence and are pushing for another overthrown government. Since Centerra established Kumtor they have had two coups and the new governments have gone back on every previous agreement. The cat is well out of the bag now.
still going on, unless it's shorting as I've said before. 15:33 + 15:34 - 250,000 dumped in 1minute 11 secs. OK, it's only £25k but it's not pi work. Why this continued dumping at quite a significant loss? That works out at 0.1% but the way it's been going 1 - 2 % of shares have been similarly dumped since the fateful announcement on 13th May of change of tactics for Chaarat.
I am going to check out stock 'on loan' next week but feel we should be getting a 'Holdings RNS' soon if it is just an ii dumping. Which one?
i know, those pesky chinese, hope they don't flush us like they do their kids, the spread has closed up abit so i am going to top these up and double my investment and so quadruple my holding, so if and when this blows i should be looking quite smug, well hopefully with the s in front anyway GLA
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