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United States

Centerra Gold Inc (CG.TO)

CG.TO on Toronto Stock Exchange

6.72CAD
23 Feb 2018
Change (% chg)

$0.36 (+5.66%)
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$6.36
Open
$6.63
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$6.55
Volume
630,757
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647,955
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$9.35
52-wk Low
$5.90

Latest Key Developments (Source: Significant Developments)

Centerra Gold Reports Q4 Earnings Per Share Of $0.45
Friday, 23 Feb 2018 07:00am EST 

Feb 23 (Reuters) - Centerra Gold Inc ::CENTERRA GOLD ACHIEVES 2017 CONSOLIDATED GOLD PRODUCTION GUIDANCE, BEATS COST GUIDANCE, RECORDS $210 MILLION NET EARNINGS AND GENERATES $234 MILLION FREE CASH FLOW(NG) AND PROVIDES 2018 OUTLOOK.Q4 EARNINGS PER SHARE $0.45.Q4 REVENUE $358.2 MILLION.CENTERRA GOLD - CAPEX FOR 2018 IS ESTIMATED TO BE $242 MILLION WHICH INCLUDES $100 MILLION OF SUSTAINING CAPITAL(NG) AND $142 MILLION OF GROWTH CAPITAL(NG) SPENDING​.‍Q4 2017 RESULT INCLUDES A TAX BENEFIT OF $21.3 MILLION AS A RESULT OF A CHANGE IN TAX LEGISLATION ENACTED IN U.S.​.CO EXPECTS TO BE IN A POSITION TO DRAW ON OMAS FACILITY IN Q2 OF 2018.‍EXCLUDING U.S. TAX LEGISLATION BENEFIT ADJUSTED EARNINGS IN Q4 OF 2017 WERE $0.37 PER BASIC​ COMMON SHARE.‍FOR 2018, ESTIMATING CONSOLIDATED GOLD PRODUCTION TO BE IN RANGE OF 645,000 TO 715,000 OUNCES​.CENTERRA GOLD - ‍PROJECTED CONSOLIDATED AISC PER OUNCE SOLD (NG) ON A BY-PRODUCT BASIS FOR 2018 EXPECTED TO BE $799 TO $885 PER OUNCE​.Q4 EARNINGS PER SHARE VIEW $0.32 -- THOMSON REUTERS I/B/E/S.QTRLY DILUTED EARNINGS PER COMMON SHARE $0.43.  Full Article

Centerra Gold Reports Restart Of Mill Processing Operations At Mt. Milligan
Monday, 5 Feb 2018 12:33pm EST 

Feb 5 (Reuters) - Centerra Gold Inc ::CENTERRA GOLD REPORTS RESTART OF MILL PROCESSING OPERATIONS AT MT. MILLIGAN.CENTERRA GOLD INC - EXPECTS TO RESTART SECOND BALL MILL IN APRIL, RETURNING MILL OPERATIONS AT MT. MILLIGAN TO FULL CAPACITY.CENTERRA GOLD - MILL OPERATIONS AT MOUNT MILLIGAN OP ARE EXPECTED TO ACHIEVE SUSTAINABLE MILL THROUGHPUT LEVELS OF ABOUT 30,000 TPD BY MID-FEB.  Full Article

Centerra Gold Closes $500 Million Revolving Credit Facility
Thursday, 1 Feb 2018 12:17pm EST 

Feb 1 (Reuters) - Centerra Gold Inc ::CENTERRA GOLD CLOSES US$500 MILLION REVOLVING CREDIT FACILITY.SAYS CREDIT FACILITY WILL BE AVAILABLE AT CORPORATE LEVEL AND REPLACES $315 MILLION CENTERRA BC HOLDINGS CREDIT FACILITIES​.SAYS INTEREST RATE PAYABLE ON ANY OUTSTANDING BORROWINGS ON CREDIT FACILITY IS LIBOR PLUS 2.25% - 3.75%.SAYS ‍CREDIT FACILITY ALSO REPLACES NON-REVOLVING $125 MILLION CREDIT FACILITY ENTERED EARLY JAN RELATED TO ACQUISITION OF AURICO METALS.  Full Article

Centerra Gold announces acquisition of AuRico Metals
Tuesday, 7 Nov 2017 07:00am EST 

Nov 7 (Reuters) - AuRico Metals Inc. :Centerra gold announces friendly acquisition of aurico metals.AuRico Metals Inc. - deal for ‍an aggregate transaction value of c$310 million.​.AuRico Metals Inc. - deal for ‍C$1.80 in cash consideration per share​.AuRico Metals Inc. - ‍arrangement will require approval by 66 2/3 percent of votes cast at a special meeting of Aurico Metals shareholders​.AuRico Metals Inc. - ‍arrangement agreement includes customary provisions including non-solicitation provisions​.AuRico Metals Inc. - ‍arrangement agreement includes a c$12 million termination fee payable to Centerra under certain customary circumstances​.AuRico Metals - deal acquisition is expected to be financed through a combination of new US$125 million acquisition facility and cash on hand at Centerra​.AuRico Metals Inc - deal‍ expected to be accretive to Centerra shareholders, on a per share basis, to net asset value, reserves and resources​.AuRico Metals Inc. - ‍Centerra plans to restructure its current debt facilities in connection with closing of arrangement​.  Full Article

Centerra Gold reports qtrly ‍adj earnings per share $0.18​
Tuesday, 31 Oct 2017 06:00pm EDT 

Oct 31 (Reuters) - Centerra Gold Inc :Q3 revenue $276.2 million versus I/B/E/S view $291.8 million.Centerra Gold Inc qtrly ‍adj earnings per share $0.18​.Centerra Gold Inc - qtrly earnings per share $0.00‍​.Q3 earnings per share view $0.22 -- Thomson Reuters I/B/E/S.Centerra Gold Inc - sees 2017 gold production of 775,000 ounces to 815,000 ounces​.  Full Article

Centerra Gold reaches comprehensive settlement with the Government of the Kyrgyz Republic
Monday, 11 Sep 2017 07:00am EDT 

Sept 11 (Reuters) - Centerra Gold Inc :Centerra Gold reaches comprehensive settlement with the Government of the Kyrgyz Republic.Centerra - co, its Kyrgyz subsidiaries and Kumtor Operating Company entered into a settlement agreement Government of Kyrgyz Republic​.KGC has agreed to make a one-time lump sum payment totaling US$57 million.Amounts are expected to be recorded as an expense and liability in company's Q3 results.Centerra - ‍agreement results in full reciprocal releases, resolution of existing arbitral, environmental claims, disputes, proceedings, court orders​.Centerra Gold - KGC would consider, together with government, other potential investment opportunities in Kyrgyz Republic and at Kumtor Project.Centerra - ‍agreement results in termination of Kyrgyz Republic court order which restricted KGC's ability to transfer cash to Centerra​.Centerra Gold - continuing to work closely with government to expeditiously satisfy strategic agreement, expected to be completed in Q4 of 2017.  Full Article

Centerra Gold in advanced settlement talks with Kyrgyz Government
Wednesday, 6 Sep 2017 11:42am EDT 

Sept 6 (Reuters) - Centerra Gold Inc :Says Centerra Gold provides update on discussions with the Kyrgyz Government.Says confirms that its discussions with Kyrgyz​ Government regarding a settlement have reached an advanced stage.Says Unit to make payment of $57 million to new government administered Nature Development Fund, Cancer Care Support Fund​ per terms of proposed settlement ​.Says aware of reports in Kyrgyz Republic describing statements made by Government to parliamentary committee which included terms of proposed settlement.Says terms of proposed settlement include comprehensive settlement of all outstanding disputes & court & other proceedings affecting Kumtor Project​.Says ‍inability to resolve all matters could lead to suspension of operations of Kumtor Project​.Says ‍inability to resolve matters related Kumtor Project would have material adverse impact on future cash flows, earnings, results of operations.‍Says KGC would consider, together with government, potential investment options in Kyrgyz Republic & at Kumtor Project​ as per terms of proposed settlement.  Full Article

Centerra Gold Q2 earnings per share $0.08
Monday, 31 Jul 2017 08:36pm EDT 

July 31 (Reuters) - Centerra Gold Inc ::Centerra Gold favourably revises 2017 guidance and reports net earnings of $23 million for the second quarter 2017.Q2 earnings per share $0.08.Q2 revenue $279.2 million versus I/B/E/S view $255.3 million.Q2 earnings per share view $0.11 -- Thomson Reuters I/B/E/S.Produced a total of 195,719 ounces of gold in q2.Increased its company-wide gold production guidance for the year to 785,000 to 845,000 ounces.Lowered expected company-wide all-in sustaining costs on a by-product basis per ounce sold(ng) guidance to $693 to $747 for fy.  Full Article

Centerra provides update on International Arbitration
Wednesday, 19 Jul 2017 05:15pm EDT 

July 19 (Reuters) - Centerra Gold Inc :Centerra provides update on international arbitration.Centerra Gold -Arbitrator issued order providing certain interim relief to centerra in its ongoing arbitration against Kyrgyz Republic and Kyrgyzaltyn JSC.Centerra Gold Inc says responses to Centerra's statement of claim are expected to be submitted by Kyrgyz republic and Kyrgyzaltyn in September 2017.Centerra Gold - ‍arbitrator found that centerra had made out both a prima facie case for arbitrator to take jurisdiction over Arbitration proceeding​.Centerra Gold says will continue to pursue its claims in its main arbitration proceeding, which was commenced in May 2016 and remains ongoing.Centerra Gold Inc - Responses to Centerra's statement of claim are expected to be submitted by Kyrgyz Republic and Kyrgyzaltyn in September 2017.Centerra Gold Inc - ‍arbitrator found that centerra had made out a "prima facie case on merits of case"​.  Full Article

Centerra Gold reports 2017 first quarter net earnings of $57 million
Monday, 1 May 2017 08:24pm EDT 

May 1 (Reuters) - Centerra Gold Inc :Centerra Gold reports 2017 first quarter net earnings of $57 million.Q1 earnings per share $0.20.Q1 revenue $285.3 million versus I/B/E/S view $240 million.Q1 earnings per share view $0.10 -- Thomson Reuters I/B/E/S.Centerra Gold Inc - on track to achieve 2017 production and cost guidance.Qtrly total gold production of 172,644 ounces.Centerra Gold Inc - continues to advance its discussions with Government of Kyrgyz Republic to resolve all outstanding issues affecting Kumtor project.Expects to obtain access to Sarytor ore in second half of 2017.2,000 metres of diamond drilling is planned for Q2 of 2017.Centerra Gold - entered into agreements to earn interest in joint venture exploration properties located in Portugal, Canada, Mexico, Sweden and Nicaragua.  Full Article

BRIEF-Centerra Gold Reports Q4 Earnings Per Share Of $0.45

* CENTERRA GOLD ACHIEVES 2017 CONSOLIDATED GOLD PRODUCTION GUIDANCE, BEATS COST GUIDANCE, RECORDS $210 MILLION NET EARNINGS AND GENERATES $234 MILLION FREE CASH FLOW(NG) AND PROVIDES 2018 OUTLOOK