Loading ...TORONTO, Feb. 22, 2022 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has entered into a definitive agreement whereby Centerra, through its subsidiary Centerra (U.S.) Inc., will acquire 100% of Gemfield Resources LLC, owner of the Goldfield District Project (“Goldfield”), from Waterton Nevada Splitter, LLC (“Waterton”) for US$206.5 million (US$175 million in cash at closing plus a US$31.5 million future milestone payment payable in cash or Centerra shares).
Goldfield is a conventional open-pit, heap leach project in late-stage development, located in a Tier 1 mining jurisdiction. It contains three known deposits: Gemfield, Goldfield Main and McMahon Ridge. The first pit for potential development is Gemfield. Centerra believes that the project has significant upside potential from its large, underexplored land position in an established mining area in Nevada that has produced more than 4 million ounces of gold historicallyi.
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