CGAU - Centerra Gold to buy Nevada's Goldfield Project in $206M deal

Centerra Gold (NYSE:CGAU) +5.6% pre-market after agreeing to acquire the Goldfield District Project from Waterton Nevada Splitter for $206.5M, consisting of $175M in cash plus a $31.5M future milestone payment payable in cash or shares. Centerra says the project has significant upside potential from its large, underexplored land position in an established mining area in Nevada that has produced more than 4M oz. of gold historically. The miner says the deal increases its exposure to North America and provides an anchor asset that can act as a foothold for further opportunities in the U.S. Comparing it to its operational Öksüt Mine in Turkey, Centerra expects Goldfield will add meaningful future low-cost production via a conventional open-pit heap leach mine with expected low capital intensity. Kyrgyzstan's prime minister recently said his government is in the final stages of settling its dispute with Centerra over the Kumtor gold mine.

For further details see:

Centerra Gold to buy Nevada's Goldfield Project in $206M deal