Centerra Gold - Kumtor Mine Reserves Increase 58% to 9.7 Million Ounces of Gold 5 Year Extension of the Life-of-Mine to 2026
All figures are in United States dollars
Toronto, Canada � November 7, 2012: Centerra Gold Inc. (TSX: CG) announces the results of its technical and financial study regarding expanding the Central open pit at the Kumtor mine in the Kyrgyz Republic.
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Increased Proven and Probable reserves by 58% or 3.6 million contained ounces of gold, total open pit reserves of 9.7 million contained ounces of gold,
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Extended mine life by 5 years, life-of-mine plan (LOM) for the KS-13 open pit extends open pit mining to 2023 and milling operations to 2026,
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Optimized LOM open pit plan while maintaining future underground development option,
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Consistent annual gold production averaging 650,000 ounces for the first 10 years,
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Expand mill throughput by 18% in 2016 to 6.7 million tonnes per annum (approximately 18,400 tonnes per day),
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LOM expansion capital of $169 million and $557 million of sustaining capital, excluding pre-strip capital,
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Total LOM operating cost, pre-stripping and capital cost of $728 per ounce1, excluding revenue-based tax; $917 per ounce including revenue-based tax at $1,350 per ounce gold price,
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Net present value (NPV) of $1.9 billion at a 8% discount rate using a gold price of $1,350 per ounce; and a NPV of $3.4 billion using a gold price of $1,700 per ounce.
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Centerra Gold Inc
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PRODUCER |
CODE : CG.TO |
ISIN : CA1520061021 |
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Centerra Gold is a gold producing company based in Canada. Centerra Gold holds various exploration projects in Russia. Its main assets in production are KUMTOR in Kyrgyzstan and BOROO in Mongolia, its main asset in development is GATSUURT in Mongolia and its main exploration properties are AKARCA in Turkey and REN and KARA BELDYR in Russia. Centerra Gold is listed in Canada and in Germany. Its market capitalisation is CA$ 2.5 billions as of today (US$ 1.8 billions, € 1.7 billions). Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.79, and its highest recent level on April 21, 2023 at CA$ 9.99. Centerra Gold has 291 280 000 shares outstanding. |