Cen­terra in friendly takeover of AuRico Met­als

The Australian Mining Review - - NEWS: INTERNATIONAL -

CEN­TERRA Gold has bought out fel­low gold developer AuRico Met­als for C$310 mil­lion.

AuRico is de­vel­op­ing the Kemess brown­fields gold pro­ject in Bri­tish Columbia, and owns a roy­alty port­fo­lio that in­cludes a 1.5 per cent net smelter re­turn (“NSR”) roy­alty on the Young-David­son gold mine in On­tario and a 2 per cent NSR roy­alty on the Foster­ville mine in Aus­tralia.

To­gether with its Kum­tor mine in the Kyr­gyz Repub­lic and the Mount Mil­li­gan mine in Bri­tish Columbia, Cen­terra ex­pected to be firmly es­tab­lished as a low-cost gold pro­ducer with a ge­o­graph­i­cally di­ver­si­fied foot­print.

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