The transaction, when completed, will add approximately 500 000 ounces of platinum and 7,6-million ounces of gold resources to Centurion's reserves.
The ventures, to be announced individually and upon closing, will include platinum and gold projects in South Africa, Mali, Gabon and Angola, all located in West Africa.
“The projects in South Africa contain 500 000 ounces of platinum and five-million ounces of gold resources. The project in Mali is located in a well known and well documented region close to Lula Gold, with a total of 1,5-million ounces of gold resource,” Dale Paul, CEO of Centurion Gold Holdings, said.
The second, a well-advanced project in Gabon, which is covered by licenses in a government-to-government contract, totals 600 000 ounces of gold. The third project in Angola contains approximately 500 000 ounces gold.
Centurion Gold is in the advance stages of its due diligence and will announce a definitive contract once this process has been completed.
Additionally, Rovagold has committed to Centurion the rights of first refusal on all other exploration projects.