Shocked and surprised Royalty streamsCenterra Gold has announced that they have made a deal to sell the royalty portfolio that they recd when they bought Aurico . The portfolio includes a 2% NSR on ALL OF FOSTERVILLE AREA. They sold the Portfolio for $200M US to Triple flag Mining Finanace of Bermuda. This has me scratching my head ....cant believe that Kirkland passed on it.......given how much its hoped/expected that the resource will be greatly expanded. The fosterville NSR cost just over $1M in cash last quarter.....
Centerra also added to the package with new royalty streams from their own mines. Centerra had valued the portfolio at $127M CDN in January......and sold it for $150M US, and then added $45M when they sold the Silver strean from the future production of one of the assets they bought(Kemess) in the Aurico purchase. They bought Aurico for 310M less the 245M they recoverd from royalty streams they sold......THEY STOLE AURICO...... they do business like Kirkland.... Centerra is cashing up for some big stuff.....I hold 2020 options at $6.00 on Centerra.
GLTA
MC