Centerra Gold closes $206.5m acquisition of Goldfield District Project

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Centerra Gold, a Canadian gold mining company, has closed the previously announced $206.5 million acquisition of Gemfield Resources, the owner of the in Nevada.

Gemfield Resources was acquired from . The deal was announced in late February 2022.

The Goldfield District Project is a conventional open-pit, heap leach project. The late-stage development is said to be located in a Tier 1 mining jurisdiction.

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It has three known deposits, namely Gemfield, McMahon Ridge, and Goldfield Main.

Centerra Gold closes $206.5m acquisition of Goldfield District Project in Nevada

closes $206.5m acquisition of Goldfield District Project in Nevada. Photo courtesy of Khusen Rustamov from Pixabay.

At the time of announcing the deal, — President and CEO of Centerra Gold said: “We are very excited to be adding this high-quality development project and its substantial Tier 1 jurisdiction land package to our portfolio. Similar to our Öksüt Mine, Goldfield will be a heap leach mine, with low initial capital outlay and low projected production costs.

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“Our experienced exploration and operational teams have intimate knowledge of an asset of this kind, and I feel confident that they will be able to successfully develop and execute on this project in the coming years, delivering another source of meaningful cash flow to Centerra.”


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