On June 27, 2018, Centerra Gold Inc. announced that its wholly-owned subsidiary, AuRico Metals Inc., completed the previously announced agreement with Triple Flag Mining Finance Bermuda Ltd. in connection with the sale of AuRico’s royalty portfolio and a silver stream on the Kemess project for combined aggregate proceeds of US$200 million.
The royalty sale and the Kemess stream represents a compelling way for Centerra to realize significant cash proceeds from non-core assets which will further enhance Centerra’s strong balance sheet and assist in funding its growth development pipeline.
Centerra is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is the largest Western-based gold producer in Central Asia.
Osler, Hoskin & Harcourt LLP provided Canadian taxation advice to Centerra with a team consisting of Drew Morier and Taylor Cao (Taxation).