Kentor Gold – Andash Project

The other day I was informed on Hot Copper and Share Scene that Simon Milroy, the Managing Director of Kentor Gold, would be in the Kyrgyz Republic to meet the Prime Minister. Obviously you can never take anything you hear on a forum as gospel, but it was interesting to hear non-the-less.

A day or so later this article was posted (please excuse the poor English as it was translated using Google):

http://news.namba.kg/read.php?id=208851

*Translated to English*

The Australian owner of the field "Andash" discuss with the authorities of Kyrgyzstan future mine
February 28, 14:03 Source: K-News

Simon Milroy - the head of the Board of Directors "Kentor Gold", which owns the mine, "Andash", arrived in Kyrgyzstan to find the position of leadership on the development of the mine. This was announced today, February 28, the press service of OJSC "Kentor Gold."

According to her, Simon Milroy arrived in Kyrgyzstan today, and in early March, plans to meet with government and parliament, which banned the development of the field "Andash" in June 2011 due to the potential environmental threat.

The Government of Kyrgyzstan to the current date is not officially reacted to this decision, although in November 2011 the company "Kentor Gold" suggested the government to deduct 20% of revenues from the development of the field.

In this regard, Simon Milroy going to find out the position of the country's authorities with respect to the mine "Andash" and prospects for further work in the country of "Kentor Gold." It is planned that following the visit of the company's management decides to increase or decrease the amounts of investment in Kyrgyzstan.

"For the development of the field" Andash "has already received approvals, acquired by road and construction machinery, mining equipment ordered, social package is designed for the local population. Over the next 1.5 years, the company is ready to invest in the project is 106 million dollars, and payments to the budget since the start of production will amount to 1.5 billion soms per year, including dividends to the state ", - noted in a statement.

For the record : Simon Milroy - Managing director of JSC "Kentor Gold." Specialty - a mining engineer, has 20 years experience in metal extraction. Member of the Australian Institute of Mining and Metallurgy.

JSC "Kentor Gold" owns mines in Australia and Kyrgyzstan - mine "Andash." In Kyrgyzstan, the company has been operating since 1997 and has invested in exploration in the country of 10.8 million dollars.

This confirms that Simon Milroy has/had arrived in Kyrgyzstan and would be meeting the government and parliament. The “ban” which the article refers to was a decision that was forced through the parliament in the middle of last year and led to the delays we currently face. This was also at the time when the village was against the project, which now appears to have changed.

I remain confident that there will be a positive outcome for Andash and believe that this article is further evidence of that.