Centerra Gold Takes 70% Stake in Azimut’s Quebec Gold-Copper Properties
Event summary
- Centerra Gold signs option agreement for Corvet and Kaanaayaa properties in Quebec, with potential 70% stake.
- Azimut to receive up to $850,000 in cash payments and $16M in exploration funding over 10 years.
- Centerra must deliver a Preliminary Economic Assessment with 1M oz AuEq resource to earn full stake.
- Properties cover 556.3 km² with multi-element geochemical anomalies and historical high-grade samples.
- Azimut retains 2% NSR royalty if diluted below 10% interest.
The big picture
This deal aligns with Azimut’s strategy of partner-funded exploration while maintaining exposure to potential discoveries. Centerra’s involvement brings significant capital to advance underexplored gold-copper prospects in Quebec’s Eeyou Istchee James Bay region. The transaction highlights the growing trend of mid-tier producers securing high-potential properties through staged earn-in agreements.
What we're watching
- Exploration Success
- Whether Centerra can deliver the required 1M oz AuEq resource within the 10-year timeframe.
- Funding Pacing
- The pace at which Centerra allocates the $16M in exploration expenditures across the properties.
- Royalty Value
- How the 2% NSR royalty will impact Azimut’s long-term revenue if Centerra earns the full stake.
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