Welcome to our dedicated page for Centerra Gold news (Ticker: CGAU), a resource for investors and traders seeking the latest updates and insights on Centerra Gold stock.
Centerra Gold Inc. (symbol: CGAU) is a prominent gold mining and exploration company that operates globally, with significant projects and operations spanning Asia, North America, and other key markets. The company's core business includes the exploration, development, operation, and acquisition of gold properties. Centerra Gold manages its operations through various reportable segments categorized by geographical locations and products.
The Kyrgyz Republic segment encompasses the operations of the Kumtor Gold Project, a large and established mining site contributing significantly to the company's gold production. In Turkey, the OksUt Project is a pivotal development representing the Turkish segment, underscoring the company's strategic expansion in promising regions. The North American Gold-Copper segment includes the operations of the Mount Milligan Mine, which is noteworthy for its mixed metal output, thus diversifying Centerra's portfolio. Additionally, the North American Molybdenum segment comprises the operations of the Langeloth processing facility and the care and maintenance activities of the Endako and Thompson Creek Mines.
Recent achievements include advancements in operational efficiency and exploration success, positioning Centerra as a key player in the gold mining industry. The company maintains robust financial health, underpinned by strategic partnerships and a balanced portfolio of assets that ensure steady revenue streams.
For the latest updates and detailed information, visit the company's website at www.centerragold.com or financial disclosure platforms such as SEDAR+ and EDGAR.
Centerra Gold will release its second quarter 2024 operating and financial results on August 1, 2024, after market close. The company will hold a conference call and webcast on August 2, 2024, at 9:00 a.m. Eastern Time to discuss the results. Participants can register for the conference call or access the webcast through provided links. An audio recording of the call will be available until September 2, 2024, and the webcast will be archived until November 2, 2024, on Centerra’s website. Presentation slides will also be accessible on their website.
Centerra Gold held its 2024 Annual Meeting of Shareholders on May 14, 2024, with 71.13% of common shares represented. Key outcomes included the election of all nominated directors, re-appointment of KPMG LLP as auditors, and approval of executive compensation. Detailed results showed strong support for all directors, including Wendy Kei (99.42%), Craig MacDougall (99.82%), and others. The advisory vote on executive compensation passed with 96.63% approval.
Centerra Gold announced a quarterly dividend of C$0.07 per common share, totaling approximately C$15.0 million (US$11.1 million).
The dividend will be paid on June 12, 2024, to shareholders recorded by May 29, 2024.
This dividend is eligible for Canadian income tax purposes. The Board of Directors will determine the timing and amount of future dividends based on operating results, cash flow, financial conditions, and general business conditions.
Centerra Gold (NYSE: CGAU) has reported strong Q1 2024 results, with consolidated gold production of 111,341 ounces and copper production of 14.3 million pounds. The company achieved gold sales of 104,313 ounces at $1,841 per ounce and copper sales of 15.6 million pounds at $3.12 per pound. Net earnings for the quarter were $66.4 million ($0.31 per share), with adjusted net earnings at $31.3 million ($0.15 per share).
Centerra's cash and cash equivalents rose to $647.6 million, despite a $24.5 million payment to Royal Gold. The company repurchased 1.78 million shares for $10 million. For the quarter, cash provided by operations was $99.4 million, and free cash flow was $81.2 million.
Operational highlights include ongoing optimization at the Mount Milligan mine and elevated production at the Öksüt mine. Centerra is on track to meet its 2024 guidance, projecting total gold production between 370,000-410,000 ounces and copper production of 55-65 million pounds. The company declared a quarterly dividend of C$0.07 per share.
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