Monday, September 15, 2025

Centerra Gold Plans To Acquire Goldfield District Project In Nevada For US$206.5 Million

Centerra Gold Inc. (TSX: CG) seems to be refocusing its efforts in North America. The mining firm announced today the definitive agreement to acquire Gemfield Resources, the owner of the Goldfield District project.

The company is buying out the Nevada-based mining firm from Waterton Nevada Splitter for total consideration of US$206.5 million. This consists of US$175 million in cash at closing and US$31.5 million in future milestone payments payable in either cash or shares.

The project is said to be “a conventional open-pit, heap leach project in late-stage development” that contains three known deposits: Gemfield, Goldfield Main, and McMahon Ridge. The company compares the property as being similar to its own Öksüt Mine in Turkey.

Prior to the acquisition, the mining firm currently has five active exploration joint ventures in the United States and six in Canada. The company seems to be refocusing its expansion in the North American continent following the saga with the Krygyzstan government regarding the contested Kumtor mine. While the firm is already looking to settle the issue, it has recorded at least US$926.4 million in losses related to the seizure of the mine by the government.

Source: Centerra Investor Presentation

The firm expects to release a resource estimate on the property by the first half of 2023 and a feasibility study thereafter.

The company also announced in January its preliminary production results for 2021, highlighting an annual gold production of 308,141 ounces. In 2022, it estimates to produce 400,000 to 450,000 gold ounces.

Centerra Gold Inc. last traded at $11.39 on the TSX.


Information for this briefing was found via mining.com and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Canaccord Reduces Centerra Gold’s Price Target To $21 Following Sale of Hardrock Project

On December 15th, Centerra Gold Inc (TSX: CG) agreed to sell its 50% stake in...

Wednesday, December 16, 2020, 11:59:00 AM

Centerra Gold’s Q1 2025 Marred By Earnings Drop, Free Cash Burn, And Output Decline

Centerra Gold (TSX: CG) reported Q1 2025 earnings where, despite beating analyst expectations on adjusted...

Saturday, May 10, 2025, 01:31:00 PM

Centerra Gold’s Net Income Plunges 52% in Q3 2024 Amid Surging Costs and Slowing Production

Centerra Gold (TSX: CG) reported its third-quarter financial results for 2024, showcasing consistent operating performance...

Friday, November 1, 2024, 12:33:00 PM

Gold Mining Exploration in Idaho is Heating Up

The Deep Dive is currently doing due diligence on Lodge Resources (CSE: LDG), which just...

Saturday, April 25, 2020, 11:53:42 AM

Kyrgyzstan Adds Former Centerra Gold Officers To Wanted List, Detains Former Prime Minister Related To Kumtor Mine Case

Former officers of Centerra Gold Inc. (TSX: CG) and the Kumtor Gold Company have been...

Friday, September 17, 2021, 10:33:00 AM