Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Premier Gold (TSX: PG) announced on Wednesday that Centerra (TSX: CG) has not accepted the company’s offer to acquire Centerra’s 50% interest in the Greenstone Gold Mines Partnership for approximately $205 million.
Greenstone’s principal asset is the Hardrock project located on the Trans-Canada Highway in Ontario. It is considered one of the most significant large-scale, near permitted, mine development opportunities in North America, Premier said in a media release.
“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 Premier chief executive Ewan Downie.
Hardrock has been a contentious project for both Premier and Centerra, with the latter filing a lawsuit over a project update made in December by Greenstone Gold Mines, which Centerra argued should not be considered a “feasibility study”, and Premier filing a counterclaim earlier this year in response.
