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Update: Premier Gold Forms Joint Partnership To Advance Trans-Canada Project

Premier Gold (PIRGF) recently announced a partnership with Centerra Gold to develop the company's Trans-Canada property. The partnership will be a 50/50 partnership, with Centerra (CAGDF) contributing C$300 million in cash, while Premier will contribute property, assets, and rights it holds in respect to Trans-Canada. Out of this C$300 million, C$85 million will be distributed to Premier on closing of the transaction; another C$185 million will go towards a comprehensive technical and economic feasibility study including an updated mineral resource calculation for the Hardrock Project at the Trans-Canada Property. If the project meets the criteria to being advanced, then the rest of the funds will go towards construction and development of the project.

In our previous piece on Premier Gold, we stressed the attractiveness of Premier's Hardrock project, and the fact that Centerra is joining in a 50/50 partnership and contributing C$300 million to develop the project confirms our… Read More …