Shares of Centerra Gold fell more than 9 percent on Monday on expectations that parent company Cameco Corp was set to sell its 49 percent stake in the gold miner.
However, Cameco denied there were any undisclosed material developments regarding a sale, and said speculation that it had hired investment bankers to draft a deal were wrong.
The big Canadian uranium producer has long planned divest to the Centerra holding, but expectations of an imminent deal picked up after Toronto-based Centerra inked a much-delayed ownership agreement with Kyrgyzstan in April regarding its Kumtor mine, removing a major overhang on the stock.
Click here to read more about the potential sale of Centerra Gold.
