Centerra Gold Reports Third Quarter Results
This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 23 and in our Cautionary Note Regarding Forward-looking Information on page 31. It should be read in conjunction with the Company�s unaudited interim condensed consolidated financial statements and notes for the three and nine months ended September 30, 2012 and the associated Management�s Discussion and Analysis. The condensed interim financial statements of Centerra are prepared in accordance with International Accounting Standard 34, Interim Financial Reporting, as issued by the International Accounting Standards Board and the Company�s accounting policies as described in note 3 of its annual consolidated financial statements for the year ended December 31, 2011.
All figures are in United States dollars.
To view the Management�s Discussion and Analysis and the Financial Statements and Notes for the three and nine month periods ended September 30, 2012 please visit the following link:
http://media3.marketwire.com/docs/CG2012FSMDAQ3.pdf
Toronto, Canada, November 7, 2012: Centerra Gold Inc. (TSX: CG) today reported a net loss of $46.8 million, or $0.20 per share based on revenues of $68.8 million. The third quarter loss includes $19.3 million ($0.08 per share) of abnormal mining costs, and other operating expenses of $5.2 million ($0.02 per share) for the care and maintenance of the underground development project at Kumtor. For the same period in 2011, the Company recorded net earnings of $83.7 million or $0.35 per common share based on revenues of $278.4 million reflecting significantly higher gold production and sales.
Consolidated gold production for the third quarter of 2012 totaled 42,723 ounces, as expected, at a total cash cost of $1,401 per ounce produced, reflecting the lower gold production as a result of the revised mine plan at Kumtor. In the corresponding quarter of 2011, consolidated gold production was 154,936 ounces at a total cash cost of $556 per ounce produced. (Total cash cost per ounce produced is a non-GAAP measure and is discussed under �Non-GAAP Measures�.)
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Centerra Gold Inc
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PRODUCER |
CODE : CG.TO |
ISIN : CA1520061021 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Centerra Gold is a gold producing company based in Canada. Centerra Gold holds various exploration projects in Russia. Its main assets in production are KUMTOR in Kyrgyzstan and BOROO in Mongolia, its main asset in development is GATSUURT in Mongolia and its main exploration properties are AKARCA in Turkey and REN and KARA BELDYR in Russia. Centerra Gold is listed in Canada and in Germany. Its market capitalisation is CA$ 2.5 billions as of today (US$ 1.9 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. |