Posted in | Gold | Mining Business

Centerra and Premier Complete 50/50 JV for Development of Trans-Canada Property

Centerra Gold Inc. and Premier Gold Mines Limited are pleased to announce today the completion of their previously announced 50/50 joint venture partnership formed for the purpose of the joint ownership and development of Premier's Trans-Canada Property including the Hardrock Gold Project located in the Geraldton-Beardmore Greenstone belt in Ontario.

Premier, through a wholly-owned subsidiary, has contributed all property, assets and rights it held in respect of the Trans-Canada Property to the partnership in consideration for its 50% interest in the partnership, and Centerra has made an initial cash contribution to the partnership in the amount of C$85 million for its 50% limited partner interest. Centerra and Premier have formed a joint board of directors to oversee future exploration, development and operations by the partnership at the Trans-Canada Property.

Source: http://www.centerragold.com/

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