Centerra Gold (CGAU) Invests $6.1M in Midland Exploration as Strategic Partner

Centerra Gold Inc. (NYSE:CGAU) is one of the best stocks to buy amid gold rally. On July 28, Midland Exploration Inc., a mining company based in Quebec, announced it had raised $6.1 million by selling shares privately. Centerra Gold bought all the shares, becoming a key partner in the company. As a result, Centerra now owns about 9.9% of Midland’s total common shares.

The placement consisted of $5.06 million from the sale of 10,650,000 flow-through shares, priced at $0.475 each, and $1.05 million from 3,181,819 common shares, priced at $0.33 per share. According to Midland, the funds raised will be applied to Canadian exploration expenses aimed at advancing its wholly owned gold projects in the Québec region.

Centerra Gold Inc. (NYSE:CGAU) is a Canadian mining company. It acquires, explores, develops, and operates gold and copper properties, primarily through its Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Its main products are gold bullion and copper concentrate, extracted from open-pit mining operations.

While we acknowledge the potential of CGAU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.