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 Inc. (CGAU) has announced a quarterly dividend of C$0.07 per share, amounting to C$20.8 million (or approximately US$16.3 million). This dividend is payable on March 25, 2022, to shareholders recorded by March 11, 2022, and is considered eligible for Canadian income tax. The Board of Directors emphasized that future dividends will be contingent on factors such as the Kumtor Mine and COVID-19 impacts, alongside the company's operating results and financial conditions.
The company reported a strong financial performance with cash provided by operating activities from continuing operations amounting to $270.9 million. Additionally, free cash flow from continuing operations reached $178.4 million. These figures indicate robust operational efficiency and positive cash generation capabilities, implying a solid cash position for future investments and shareholder returns.
The recent press release highlights significant developments for CGAU, emphasizing the company's financial performance and strategic initiatives. Key figures include a revenue increase of 15% year-over-year, driven by higher gold production and favorable market conditions. Furthermore, the company announced new exploration projects aimed at expanding its resource base. Management expressed optimism about future growth, citing improved operational efficiency and cost management strategies. Overall, the outlook remains positive as CGAU aims to leverage its strengths in the competitive mining sector.
Centerra Gold announces a definitive agreement to acquire 100% of Gemfield Resources LLC for US$206.5 million. This acquisition includes an initial cash payment of US$175 million and a US$31.5 million future milestone payment. The Goldfield District Project is in late-stage development and is located in a Tier 1 mining jurisdiction, promising low-cost gold production. Centerra anticipates significant upside potential from its vast land position and aims to refine existing technical studies, with a resource estimate expected in H1 2023.
Centerra Gold Inc. (CGAU) will announce its 2021 fourth quarter and year-end financial results on February 25, 2022, at 9:00 a.m. Eastern Time. The results will be released before the market opens that day. Investors can join the conference via phone or through a webcast on Centerra's website. An audio recording will be available post-call. Centerra operates gold mining assets in North America and Turkey, including its Mount Milligan and Öksüt mines. The company also has a stake in projects like the defunct Kumtor Mine and the Kemess Underground Project.
CGAU has reported significant developments in its mining operations, highlighting a 20% increase in gold production for the last quarter. The company achieved a record gross profit of $5 million, showcasing improved operational efficiencies. Future projections remain optimistic, forecasting additional growth driven by enhanced exploration activities and production capabilities. However, ongoing risks related to market volatility and regulatory changes may impact long-term performance.
Centerra Gold Inc. (CGAU) is in discussions with the Kyrgyz Republic to resolve disputes over the Kumtor Mine, seized by the government in May 2021. Key terms under negotiation include Centerra's recovery of approx. 26.1% of its shares held by Kyrgyzaltyn JSC, payment to cover withheld dividends, and the transfer of the mine and subsidiaries to Kyrgyz control. No assurances of a resolution exist, and all terms must comply with legal regulations. Centerra emphasizes the inherent risks in such negotiations, reflecting potential outcomes that may vary significantly.
Centerra Gold Inc. (CGAU) announced no anticipated impact on Mount Milligan Mine's fourth-quarter production or sales despite recent logistic service disruptions in British Columbia. The company completed its third gold and copper concentrate sale for the quarter and plans to recognize its final shipment as scheduled. 2021 guidance remains unchanged, with expected gold production of 180,000 to 200,000 ounces and copper production of 70 to 80 million pounds. Production costs are projected at $650 to $700 per ounce of gold.
Centerra Gold Inc. (CGAU) has filed a material change report detailing the loss of control over the Kumtor Mine due to actions by the Kyrgyz Republic. The company recognized a significant loss of US$926.4 million related to the change of control in Q2 2021 and has classified the Kumtor Mine as a discontinued operation, assigning no value to its interest in the Kumtor Gold Company. This report was filed at the request of the Ontario Securities Commission as part of their review of Centerra's disclosure record.
Centerra Gold announced a temporary disruption in rail service due to severe weather conditions in British Columbia, affecting the transport of concentrate from the Mount Milligan Mine to Vancouver. Although production remains unaffected so far, the extent of impact on production and sales will depend on the duration of the disruption. The company is prioritizing the safety of its employees and will continue to monitor the situation closely.
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