Triple Flag to buy Centerra's royalty, stream assets for $256 mln
Toronto-based mining company Centerra Gold Inc (TSX: CG) has agreed to sell the precious metals royalty portfolio and Kemess project silver stream of AuRico Metals Inc to Triple Flag Mining Finance Ltd. Triple Flag will pay about $256 million (US$200 million) for the assets. Centerra, which bought AuRico in January, said the deal provides the company with significant cash proceeds for enhancing its balance sheet and helping fund its growth development pipeline. Based in Toronto, Triple Flag targets streaming and royalty investments in the mining sector with the backing of Elliott Management Corp, a U.S. hedge fund manager.
17 May 2018•3 mins read
