Canada’s Centerra Gold (TSX:CG) is selling its subsidiary AuRico Metals’ royalty portfolio and a silver stream on its Kemess project to Triple Flag Mining Finance Bermuda, in a deal valued at $200 million.
The transaction, said the company’s President and chief executive, Scott Perry, is meant to generate cash to continue developing key projects, as well as growing the miner’s pipeline, through the sale of non-core assets. He said the move would also allow Centerra strengthen its balance sheet.
The Toronto-based miner said the deal implied selling AuRico Metals’ royalty portfolio, including net smelter returns royalties on Kliyul, Chuchi and Redton exploration properties, an upfront cash payment of $155 million. Continue Reading →