Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Centerra Gold Inc. (TSX:CG) today reported net earnings of $136.6 million or $0.58 per share on revenues of $250.2 million compared to earnings of $123.9 million or $0.53 per common share based on revenues of $255.5 million in the same quarter last year.
Consolidated gold production for the first quarter of 2011 totaled 180,716 ounces at a total cash cost of $370 per ounce produced compared to 211,039 ounces at a total cash cost of $340 per ounce produced in the corresponding quarter of 2010. Cash provided by operations, net of working capital changes increased to $142.6 million compared to $82.4 million in the first quarter of 2010.
First Quarter Highlights:
Steve Lang, President and CEO of Centerra Gold said: “I am pleased with our first quarter operational and financial results. We are on track with our 2011 plan and continue to enjoy the benefits of the rising gold price.”
Read the full press release here
Image by Centerra Gold
