Centerra (TSE:CG) Seeking Quality Acquisition

Strong gold prices has helped Centerra Gold (TSE:CG) reach the enviable position of being debt-free and flush with cash, which allows them to search out some quality acquisitions.

After the first quarter, Centerra had cash and short-term investments valued at $384.2 million, and adding to it on a consistent basis.

According to CEO Stephen Lang, he doesn't see it as absolutely vital to the company, but admits there would be value in adding a project which would bring them up to two million ounces a year.

“I don't think that with the projects we have in front of us that acquiring a third one is a necessity. However, we see value in getting up to a critical size of a million-and-a-half, two-million ounces a year,” Lang commented in an interview.

Lang added he would prefer a project in the later stages of exploration or early stage of development, and which would be located in Asia generally or central Asia more specifically.