Canada’s prolific geological terrain and adherence to the rule of law position the country as a go-to destination for companies looking to establish and operate mineral projects. A fall in the value of the Canadian dollar over the past few years, coupled with a recent upswing in the gold price, make gold mining in the country particularly appealing at this time. Below, we present eight companies with exposure to gold assets in Canada.
Centerra Gold (TSX: CG) is a gold producer with operations in Canada, the Kyrgyz Republic, and Turkey.
The company’s Mount Milligan open pit, 145 km northwest of Prince George, B.C., is a 60,000 tonne per day copper and gold mine. This year, the asset is expected to produce 140,000 oz. to 160,000 oz. gold and 80 million lb. to 90 million lb. copper at all-in sustaining costs (AISCs) of US$885 to US$935 per oz. gold. Centerra acquired this mine through a US$1.1-billion purchase of Thomson Creek Metals back in 2016. Royal Gold (NASDAQ: RGLD) has a gold and copper stream on the operation, at 35% of payable gold and 18.75% of payable copper with gold purchased at US$435 per oz. and copper at 15% of the spot price.
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