Centerra Gold 4Q highlights

MINING.COM Staff Writer | February 20, 2014 | 7:23 pm Precious Metals Canada Gold 

Centerra Gold was up 4.38% to $5.01 after announcing net earnings of $106.6 million or $0.45 per common share in the fourth quarter of 2013.

Fourth quarter highlights were the following:

  • Full year gold production and costs were better than guidance.
  • Produced 362,234 ounces of gold in the fourth quarter, including 348,130 ounces at Kumtor and 14,104 ounces at Boroo.
  • Increased revenues to $468.9 million compared to $368.5 million in the same quarter of 2012.
  • All-in sustaining costs per ounce sold were $433 in fourth quarter and $818 for the full year.
  • All-in costs per ounce sold were $474 in the fourth quarter and $920 for the full year.
  • Increased indicated resources at the Öksüt project in Turkey by 60% to 1.1 million contained ounces of gold.
  • Proven and probable gold reserves total 10.2 million ounces of contained gold.
  • Cash provided by operations was $359.5 million compared to $209.1 million in the fourth quarter of 2012.
  • Entered into a non-binding Heads of Agreement with the Kyrgyz Republic in connection with the potential restructuring of the Kumtor project, replaces MOU signed in September 2013.

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