- Global explorer, developer and producer Centerra Gold (TSX:CG) has taken a 9.9 per cent position in Azimut Exploration (TSXV:AZM), a gold, copper, nickel and lithium explorer active in Quebec
- Centerra purchased 9,430,000 Azimut common shares priced at C$0.60 for C$5,658,000
- Azimut is a junior miner holding the largest mineral exploration portfolio in Quebec
- Azimut Exploration stock has given back 12.5 per cent year-over-year and 64.33 per cent since 2020
Global explorer, developer and producer Centerra Gold (TSX:CG) has taken a 9.9 per cent position in Azimut Exploration (TSXV:AZM), a gold, copper, nickel and lithium explorer active in Quebec.
Centerra purchased 9,430,000 Azimut common shares priced at C$0.60 for C$5,658,000, allowing the explorer to expand activities on the largest mineral exploration portfolio in Quebec, including its Wabamisk gold-antimony property (samples up to 24.8 per cent antimony and 7.27 grams per ton gold) and Elmer gold-copper property (311,200 ounces of gold indicated and 513,900 ounces inferred at US$1,800 per ounce).
Azimut also has partner-funded exploration planned at its Kukamas nickel-copper-platinum-palladium property, which displays among the strongest geochemical footprints for copper-gold systems in Quebec’s James Bay region, making the next year a busy one for the company with high potential for shareholder value-accretive news flow. The company expects to benefit from refundable tax credits ranging from 22.5 per cent to 45 per cent on qualified exploration expenditures.
Centerra’s investment includes the right to participate in future equity issuances to maintain its stake and follows last week’s allocation to Thesis Gold, whose Lawyers-Ranch project in British Columbia houses an over 4.7-million-ounce gold resource.
According to Monday’s news release, the offering is expected to close by May 14, 2025.
About Centerra Gold
Centerra owns and operates the Mount Milligan mine in British Columbia, which is expected to produce 165,000-185,000 ounces in 2025, and the Öksüt mine in Türkiye, which is expected to produce 105,000-125,000 ounces. Reserves for these properties stand at over 2.82 million and 662,000 ounces, respectively. The company also operates one of the largest molybdenum conversion plants in North America about 40 kilometres west of Pittsburgh, Pennsylvania.
About Azimut Exploration
Azimut is a junior miner holding the largest mineral exploration portfolio in Quebec.
Azimut Exploration stock (TSXV:AZM) opened with a gain of 12 per cent trading at C$0.56. The stock has given back 12.5 per cent year-over-year and 64.33 per cent since 2020.
Join the discussion: Find out what everybody’s saying about this junior gold, copper, nickel and lithium mining stock on the Azimut Exploration Inc. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: Azimut Exploration)
