{"id":1166183,"date":"2020-02-18T05:51:43","date_gmt":"2020-02-18T11:51:43","guid":{"rendered":"https:\/\/www.mining.com\/?p=1014167"},"modified":"2020-02-18T05:51:43","modified_gmt":"2020-02-18T11:51:43","slug":"premier-golds-dispute-with-centerra-over-ontario-project-heats-up","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1166183","title":{"rendered":"Premier Gold\u2019s dispute with Centerra over Ontario project heats up"},"content":{"rendered":"<p>A dispute between Canada\u2019s Centerra<br \/>\nGold (TSX:CG) and Premier Gold Mines (TSX:PG) in relation to their joint gold project<br \/>\nin Greenstone, Ontario, is heating up, with Premier <a href=\"https:\/\/www.premiergoldmines.com\/response-to-centerra-lawsuit\">filing on<br \/>\nTuesday a counterclaim<\/a> in response to its partner\u2019s lawsuit.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The bone of contention is a project<br \/>\nupdate made in December by Greenstone Gold Mines \u2014 Premier\u2019s and<br \/>\nCenterra\u2019s subsidiary AuRico\u2019s company \u2014 which Centerra argues should not<br \/>\nbe considered a \u201cFeasibility Study.\u201d<\/p>\n<p>Premier claims that in 2016, a comprehensive<br \/>\ntechnical and economic feasibility study was completed for the Hardrock project,<br \/>\nlocated in Northwestern Ontario, about 270 km northeast of Thunder Bay.<\/p>\n<p>Upon its completion, the Greenstone<br \/>\nGold board \u2014 &nbsp;consisting of two<br \/>\nmembers each from Centerra and Premier \u2014 &nbsp;approved a series of budgets, including the<br \/>\n2019 budget that gave Greenstone Gold the direction to independently complete a<br \/>\nresource estimate and an economic update on the project.<\/p>\n<p>Premier contends the Greenstone<br \/>\nGold board met once the 2019 project update, prepared by an independent mining<br \/>\nconsultant, was completed.<\/p>\n<p>The Thunder Bay-based miner added<br \/>\nthat the feasibility study presented at the time indicated an internal rate of<br \/>\nreturn that satisfied the criteria under the partnership agreement for the<br \/>\ndevelopment of a mine.<\/p>\n<p>The partners are expected to meet<br \/>\nin court in October.<\/p>\n<p>It\u2019s estimated that the open-pit gold mine could provide nearly 1,000 jobs during construction and pre-production, and 450 workers would be employed full-time during Hardrock\u2019s 15-year mine life span. <\/p>\n<p>Between 1930 and 1970, more than 4 million ounces of gold were mined with underground methods from multiple mines in the region, with the Hardrock mines being the largest. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bone of contention is a recent project update, which Centerra argues should not be considered a &ldquo;Feasibility Study.&rdquo;<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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