(MENAFN - ProactiveInvestors) The former chief executive at miner (TSE:CTG) Leonard Homeniuk is on house arrest in Bulgaria waiting for a court ruling to see if he will be extradited to Kyrgyzstan to face corruption charges.
Centerra runs the Kumtor gold mine in Kyrgyzstan and has been in negotiations with the government over their revenue-splitting deal.
Homeniuk 68 was first detained in Bulgaria last month at Kyrgyzstan’s request.
He was on a family holiday on the river Danube at the time.
The charges relate to a 2004 deal between the Canadian firm and the Kyrgyzstan government which included a corporate restructuring and new ownership agreement of the mine involving the government.
The extradition hearing is on September 16 and Homeniuk must stay in a Sofia flat until then.
Centerra shares nudged 0.9% down to C$6.58.