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Saturday, June 12, 2010

Centerra (TSE:CG) CEO Reiterates Acquisition Plans

Centerra Gold Inc. (TSE:CG) CEO Stephen Lang reiterated his plans to grow the company primarily via acquisitions rather than organically, confirming again they've set aside $2.9 billion for that purpose over the next year.

Lang said, “We would be interested in something that is approximately our size. We are looking for potential acquisitions that are in the late stages of exploration."

They are also interested in gold miners in the early-stage of production.

Centerra is looking to pay in cash, stock or a combination of the two.

2010 has been a booming year for gold companies in merger and acquisitions, as a total of 212 have been announced so far, with many more expected to come through the pipeline, as gold prices continue to surge.

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