Centerra Gold’s sale of 50% Interest in the GGM completed

The completion of the previously announced sale of Centerra’s 50% interest in the Greenstone Gold Mines Partnership (GGM) to an affiliate of the Orion Mine Finance Group was announced by Centerra Gold Inc.

Centerra received an up-front cash payment of approximately U.S.$210 million (including adjustments) and is entitled to receive further contingent payments of up to approximately U.S.$75 million (assuming a U.S.$1,500 gold price) upon GGM’s Hardrock Project meeting certain construction and / or production milestones.

Source: financialpost.com