Part 44 May 2018 11:28
Volynets, who has lived in London for the last twenty years and is a dual Russian-British citizen, also brings to Chaarat a robust rolodex with investor connections in Russia and Asia that will be invaluable as the company continues to consolidate gold companies.
�Chaarat has been working there for sixteen years. It�s a small country and we know everyone,� Volynets says. �But it�s not the quality of our contacts, which we assure you are very good � and are top decision makers in the country, but it is the transparency of our approach.�
�We don�t want to sit down with any of the top decision-makers in a back-room somewhere and sign a deal that isn�t transparent,� he explains. �We want to get away from that legacy and have a proper debate in the parliament and have full transparency on all of the agreements because we believe it�s the best way to create value for our shareholders and investors.�
That goal will be even more important, he says, given the recent change in government.
On April 19, the government of Prime Minister Sapar Isakov was dismissed by the Kyrgyz Republic�s president following a vote of no confidence in parliament. The parliament is now in the process of appointing a new government.
Meanwhile, Volynets warns, �the longer uncertainty prevails, the more difficult the negotiating position for Centerra is going to be.�
�They didn�t respond� to an update on the proposed offer that Chaarat released on May 1, he says.
�We want to engage in a friendly and constructive discussion because it�s the best way to create value for all parties, and the sooner, the better, because from now on the [offer] price has only one direction to go and that�s down.�
�My view is simple,� he says. �Fidel Castro used to say: �Victory is Persistence� and we have plenty of that.�
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