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Centerra Gold Inc (CG.TO)

CG.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Centerra says Kumtor operation has received necessary permits from state authorities to raise tailings dam to 3674 metre elevation
Monday, 6 Mar 2017 07:00am EST 

Centerra Gold Inc : Centerra gold inc - kumtor operation has received necessary permits from state authorities to raise tailings dam to 3674 metre elevation . Centerra gold inc - construction permits enables mine to commence 3-year construction program .Centerra gold - estimated that in 2017 company will invest approximately $11 million (no change to 2017 guidance) of total estimated investment of $32 million.  Full Article

Centerra Gold Q4 earnings per share $0.23
Thursday, 23 Feb 2017 09:26pm EST 

Centerra Gold Inc : Centerra gold reports fourth quarter and 2016 year-end results . Q4 earnings per share $0.23 . Q4 earnings per share view $0.24 -- Thomson Reuters I/B/E/S . Q4 revenue $305.7 million versus $148.3 million .Gold production for Q4 increased 86% to 248,479 ounces poured, including 200,762 ounces from kumtor, 47,717 ounces from mount milligan.  Full Article

Centerra Gold suspends dividend; extends Oksut project financing facility
Friday, 9 Dec 2016 08:40am EST 

Centerra Gold Inc : Centerra Gold- Unicredit Bank, EBRD granted co's unit extension to June 30, 2017 to satisfy conditions to access $150 million Öksüt Project credit facility . Centerra- In light of restrictions relating to funds held at co's wholly-owned Kyrgyz Republic subsidiary, board decided against declaring Q3 dividend . Centerra - Oksüt will continue to work to satisfy conditions by new deadline but no assurances that all conditions will be satisfied by June 30, 2017 .Centerra gold announces extension of the Oksut project financing facility and suspension of the company's dividend.  Full Article

Centerra Gold to buy AuRico Metals in C$310 million deal

Canadian miner Centerra Gold Inc said on Tuesday it would buy smaller rival AuRico Metals Inc in a deal valued at C$310 million ($243 million).