Premier and Centerra lock horns over Hardrock project in Ontario – by Kelsey Rolfe (Northern Miner – May 11, 2020)

Global mining news

Is the Hardrock gold project, 275 km northeast of Thunder Bay in northern Ontario, a shovel-ready gem or a promising project in need of further technical work?

Joint-venture partners Premier Gold Mines (TSX: PG; US-OTC: PIRGF) and Centerra Gold (TSX: CG) have painted two very different pictures of the development-stage project in a legal dispute that began late last year.

In a statement of claim filed against Premier’s subsidiary in Ontario’s Superior Court in late December and viewed by The Northern Miner, Centerra accuses the company of inflating Hardrock’s resource estimate to improve its own profile.

Centerra is seeking to have the project put on care and maintenance, and asking for a declaration that an October 2019 mineral resource update not be considered a feasibility study and that the joint venture’s board of directors not be required to green-light Hardrock’s development based on it.

“To maximize its own apparent value, [Premier] has taken steps to increase the perceived value of its interest in the Hardrock deposit in northern Ontario, which accounts for a substantial portion of the value attributed to Premier Gold Mines,” Centerra said in its claim.

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