A piezometer used to measure underground water pressure installed in a brownfields pit as part of Liberty’s Black Pine permitting work. Credit: Henry Lazenby
Centerra Gold (TSX: CG, NYSE: CGAU) agreed to buy 9.9% of Liberty Gold (TSX: LGD) for about C$28 million to add a stake in a junior miner that’s focused on developing its Black Pine open-pit project in Idaho.
The deal disclosed Monday calls for Centerra to acquire just over 50 million Liberty Gold common shares at C$0.56 apiece. This represents a 10% premium to the stock’s five-day volume-weighted average price on the Toronto Stock Exchange and a 5.7% premium to Friday’s close.
Centerra gains the right to appoint one board member and maintain its ownership stake in the future, according to a Liberty Gold statement.
“We have recently observed a resurgence in interest in domestic projects, particularly those with visibility on permitting,…
