Centerra Gold Inc. - CGAU STOCK NEWS

Centerra Gold has announced a special meeting of shareholders on July 25, 2022, to vote on a proposed plan of arrangement concerning the global arrangement agreement with Kyrgyzaltyn JSC and the Kyrgyz Government. The meeting will be held virtually at 11:00 a.m. Toronto time, with a record date of June 27, 2022. The Arrangement requires two-thirds approval from the shareholders. The Board of Directors recommends voting in favor of the resolution. There is a caution regarding the uncertainty of satisfying the conditions for the Arrangement.

Centerra Gold Inc. (CGAU) has announced a quarterly dividend of C$0.07 per share, totaling approximately C$20.8 million (US$16.6 million), payable on June 1, 2022. Shareholders of record by May 18, 2022, will receive this eligible dividend. The Board of Directors will determine future dividends based on operating results, cash flow, financial conditions, and capital requirements.

Centerra operates gold and copper properties across North America and Turkey, with current operations including the Mount Milligan Mine and the Öksüt Mine, alongside development and exploration projects.

CGAU reported net earnings of $89.4 million or $0.30 per common share for the recent quarter. Adjusted net earnings stood at $56.4 million, equivalent to $0.19 per common share. All figures are in United States dollars and are based on a continuing operations basis.

This performance reflects the company's ongoing commitment to operational excellence and profitability.

Centerra Gold Inc. will host a conference call on May 4, 2022, at 9:30 a.m. ET to discuss its Q1 2022 operating and financial results. The results will be released before the market opens that day. North American participants can dial +1 (877) 758-1913, while international callers may use +1 (416) 641-6202. The call will be webcast live, and an audio recording will be available until May 18, 2022. Centerra Gold is focused on gold and copper mining in North America and Turkey, operating the Mount Milligan and Öksüt mines.

Centerra Gold Inc. has entered a global arrangement agreement with Kyrgyzaltyn JSC and the Kyrgyz Government to facilitate a clean separation regarding the Kumtor Mine. This agreement involves Kyrgyzaltyn transferring 77.4 million Centerra shares, representing approximately 26% equity interest, to Centerra for C$972 million. In return, Kyrgyzaltyn will gain full ownership of two Kyrgyz subsidiaries and the Kumtor Mine, along with a cash payment. The arrangement is subject to shareholder approval and legal proceedings termination, expected to close within 90 days. The Board recommends support for the deal.

Centerra Gold Inc. announced on March 28, 2022, that the Kyrgyz Republic's Cabinet of Ministers has approved negotiations for a transaction concerning its Kumtor Mine. The expected deal will likely involve exchanging Centerra's Kumtor interest for shares of Kyrgyzaltyn JSC and include the resolution of all claims between the parties. However, there is no guarantee that this transaction will reach completion, as ongoing processes and approvals remain pending. Centerra continues to navigate significant uncertainties regarding this agreement.

Centerra Gold Inc. (CGAU) has filed its 2021 annual report on Form 40-F with the U.S. Securities and Exchange Commission. This report includes the annual information form, audited financial statements, and management’s discussion and analysis, accessible via EDGAR and SEDAR. Additionally, these documents are available on the company's website. Centerra operates two gold mines and owns properties in North America and Turkey, while the Kumtor Mine remains outside its control.

Centerra Gold announced the temporary suspension of gold doré bar production at the Öksüt Mine following the detection of mercury in the ADR plant. The company is implementing safety protocols and evaluating technical solutions to address this issue, including a retort and scrubbing system. Despite the suspension, ore continues to be mined and processed into gold-in-carbon form, which will be stockpiled. As of March 17, over 54,000 gold ounces were produced and sold. The company is assessing the impact on its 2022 guidance and plans to provide further updates.

Centerra Gold Inc. has successfully completed the acquisition of Gemfield Resources LLC, which owns the Goldfield District Project. This acquisition was previously announced and aims to enhance Centerra's portfolio in gold mining. The company operates two mines in Canada and Turkey and holds several projects including Goldfield in Nevada. Notably, Centerra's shares are traded under the ticker CGAU on NYSE. Further details on this acquisition can be accessed on the company's website.