BUZZ-Centerra Gold Inc: Shares slide on Thompson Creek Metals deal

Wed Jul 6, 2016 10:29am EDT
 
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** Canadian mining company's stock down 8.6 pct at C$7.41; Falls as much as 10.1 pct - biggest pct loss in more than a month

** U.S.-based miner Thompson Creek Metals Co Inc up about 15 pct at 74 Canadian cents

** Centerra to buy Thompson Creek for about $1.1 bln in shares and cash, including paying off nearly $900 mln of debt

** Centerra to diversify operations away from its main asset, Kumtor gold mine, in Kyrgyzstan

** Centerra says has commitment from mining financier Royal Gold Inc to restructure Royal's so-called streaming finance deal with Thompson Creek; Royal's shares up 4.5 pct at $78.13

** Under amended deal, Royal will receive 35 pct of annual gold output and 18.75 pct of copper from a Thompson Creek mine, which it helped finance, instead of 52.25 pct gold output

** Up to Tuesday's close, Centerra shares had risen about 12 pct in the last 12 months