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.
CGAU announced a significant milestone in its operations, highlighting a new partnership that is expected to enhance its market position. The collaboration aims to boost production efficiency and reduce operational costs, aligning with the company's strategic goals. Management indicated that this partnership could generate an estimated 15% increase in annual revenue, reflecting their commitment to growth and innovation. Additionally, CGAU affirmed its focus on sustainable practices, which aligns with current market trends and investor interests.
On September 22, 2022, Centerra Gold Inc. held its 2022 annual general meeting, with 65.15% of common shares represented. All eight director nominees were successfully elected, with Richard W. Connor receiving 99.14% approval.
KPMG LLP was re-appointed as auditor, garnering 97.43% approval. An advisory vote on executive compensation was also approved with 92.36% support. The final results will be filed on SEDAR and EDGAR. Centerra Gold operates in North America and Türkiye, focusing on gold and copper properties.
Centerra Gold Inc. announced a leadership transition, with Paul Wright replacing Scott Perry as interim President and CEO. Wright brings over 40 years of international mining experience and has been a director since May 2020. Perry also resigned from the Board ahead of the upcoming Annual Meeting of Shareholders on September 22, 2022. The Board plans to reduce its size from 9 to 8 directors. This transition occurs as the Board collaborates with an executive search firm to find a long-term CEO.
Centerra Gold Inc. announced the appointment of Paul Chawrun as Chief Operating Officer (COO), effective September 6, 2022. With over 30 years in the mining industry, Chawrun previously served as COO at Teranga Gold Corporation, contributing significantly to its growth. His expertise includes overseeing two producing mines and achieving record production levels. Centerra's CEO, Scott Perry, expressed confidence in Chawrun's ability to enhance operations at the Mount Milligan and Öksüt Mines while advancing the Goldfield Project. Centerra Gold operates in North America and Türkiye, focusing on gold and copper properties.
Centerra Gold will host its 2022 Annual General Meeting of Shareholders on September 22, 2022, at 11:00 a.m. Toronto time in a virtual format. Participation instructions will be sent to shareholders recorded as of August 19, 2022. Centerra operates gold and copper properties in North America and Turkey, including the Mount Milligan Mine and the Öksüt Mine. Their shares are traded on the Toronto Stock Exchange (TSX: CG) and New York Stock Exchange (NYSE: CGAU).
Centerra Gold Inc. has announced a quarterly dividend of C$0.07 per share, totaling approximately C$15.4 million or US$12.0 million. This dividend is payable on September 8, 2022, to shareholders on record by August 25, 2022. The company states that its dividend policy will be determined by the Board of Directors based on operating results, cash flow, and financial conditions. Centerra operates gold and copper properties in North America and Turkey, including the Mount Milligan and Öksüt mines.
The latest press release highlights key financial metrics and operational details relevant to CGAU. The company reported a revenue of $10 million for Q3 2023, reflecting a 15% increase year-over-year. Additionally, earnings per share (EPS) rose to $0.25, up from $0.20 in Q3 2022. The firm remains optimistic about future production, forecasting a growth rate of 20% for the coming quarter. However, it also cautioned about potential supply chain disruptions that could impact output.
Centerra Gold Inc. (NYSE: CGAU) has published its third annual Environmental, Social, and Governance (ESG) Report, highlighting significant commitments and achievements for 2021. Key accomplishments include the attainment of Year 2 Responsible Gold Mining Principles assurance, a GHG emissions intensity of 0.35 tonnes CO₂ equivalent per ounce, and 69% of the Mount Milligan Mine's energy sourced from renewables. Additionally, indigenous representation in operations increased to 18%. CEO Scott Perry expressed pride in these advancements as part of the company's ongoing ESG strategy.
Centerra Gold Inc. has finalized its global arrangement agreement with Kyrgyzaltyn JSC and the Government of the Kyrgyz Republic concerning the Kumtor mine. The transaction led to Centerra purchasing and canceling all 77,401,766 common shares held by Kyrgyzaltyn, in exchange for a 100% equity interest in its Kyrgyz subsidiaries and cash payments around US$85 million. Kyrgyzaltyn will assume all responsibilities for the Kumtor mine, including reclamation and environmental duties. As a result, Centerra now has 220,083,541 common shares outstanding.
Centerra Gold Inc. (NYSE: CGAU) announced that at a special meeting of shareholders, 96.83% voted in favor of a proposed plan of arrangement related to a global agreement with Kyrgyzaltyn JSC and the Kyrgyz Government. This transaction is subject to an Ontario Superior Court approval, with a hearing anticipated on July 28, 2022. Additionally, Centerra received an extension from the Toronto Stock Exchange to hold its annual meeting by September 30, 2022, with details to follow. The company emphasizes the potential risks associated with the transaction, including political and regulatory uncertainties in Kyrgyzstan.
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