PREMIER GOLD MINES LIMITED (TSX:PG) (OTCPK: PIRGF) announces that Centerra has not accepted Premier’s offer to acquire Centerra Gold Inc.’s 50% interest in the Greenstone Gold Mines Partnership for total consideration of approximately US$205 Million.
GGM’s principal asset is the Hardrock Project located on the Trans-Canada Highway in Ontario, Canada. Hardrock is one of the most significant large-scale, near permitted, mine development opportunities in North America.
“Centerra’s decision not to accept our offer confirms that Centerra recognizes the substantial value of the Hardrock Project and is inconsistent with its refusal to make a Positive Feasibility Decision in connection with the Project”, said Ewan Downie, President and CEO of Premier.
Premier will continue to take all steps necessary to protect its interest in the Project.
Premier Gold Mines Limited is a gold-producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario where permitting and development initiatives are ongoing and McCoy-Cove in Nevada.
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We acknowledge the [financial] support of the Government of Canada.