AKIPRESS.COM - Centerra Gold Inc. announced the completion of the previously announced sale of Centerra’s 50% interest in the Greenstone Gold Mines Partnership to an affiliate of the Orion Mine Finance Group.
Centerra received an up-front cash payment of approximately U.S.$210 million (including adjustments) and is entitled to receive further contingent payments of up to approximately U.S.$75 million (assuming a U.S.$1,500 gold price) upon GGM’s Hardrock Project meeting certain construction and / or production milestones. Further details can be found in Centerra’s December 15, 2020 news release.
Cormark Securities Inc. acted as financial advisor to Centerra and Stikeman Elliott LLP as legal advisor.
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest Western-based gold producers in Central Asia. Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the Öksüt Mine in Turkey. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is based in Toronto, Ontario, Canada.