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. (NYSE: CGAU, TSX: CG) is a Canadian-based gold mining company whose news flow reflects operating performance, project development and capital allocation decisions across its gold, copper and molybdenum businesses. The company operates the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye, and owns the Kemess Project in British Columbia, the Goldfield Project in Nevada, and a Molybdenum Business Unit in the United States and Canada.
The news stream for Centerra Gold covers quarterly and annual operating and financial results, including gold and copper production volumes, sales, unit costs and cash flow metrics. Releases also discuss factors influencing results, such as metal prices, mine performance and capital expenditures at assets like Mount Milligan, Öksüt and Thompson Creek. Investors following CGAU news can see how these factors affect earnings, liquidity and the company’s ability to fund its growth pipeline.
Another key theme in Centerra’s news is project development. The company publishes updates on technical studies and economic assessments, such as the Pre-Feasibility Study for Mount Milligan and the technical study for the Goldfield Project in Nevada. These announcements describe mine life, production profiles, capital requirements and project economics, and outline how projects like Goldfield and Kemess fit into Centerra’s broader gold growth strategy.
Capital allocation and shareholder returns are also frequent topics. News releases describe quarterly dividends, renewals of the normal course issuer bid, and share repurchases, along with commentary on how these actions align with the company’s financial position and priorities. For ongoing insight into CGAU, this news page aggregates company announcements, operational updates, technical report filings and other disclosures that shape Centerra Gold’s outlook.
Centerra Gold has reported its second quarter 2024 results, showcasing consistent operating performance. Consolidated gold production was 89,828 ounces and copper production was 13.5 million pounds. The company sold 83,258 ounces of gold at an average realized price of $2,097 per ounce and 11.7 million pounds of copper at $3.79 per pound.
Net earnings for the quarter were $37.7 million or $0.18 per share, with an adjusted net earnings of $46.4 million or $0.23 per share. Cash provided by operating activities was $2.6 million, with a free cash flow deficit of $27.0 million.
Centerra maintained a cash balance of $592 million, declared a quarterly dividend of C$0.07 per share, and continued its share buyback program, purchasing 1,439,700 shares for $9.8 million.
The company has ongoing plans, including announcing an integrated strategy for its Molybdenum Business Unit and feasibility studies for the Thompson Creek mine and the Mount Milligan project's preliminary economic assessment in 2025.
Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has released its 2023 Environmental, Social and Governance (ESG) Report, highlighting significant progress in sustainability efforts. Key environmental achievements include emissions of 0.22 tonnes CO2e per ounce of gold produced at main operating sites, expanded GHG inventory with consolidated global Scope 1 and 2 emissions totaling 141,174 CO2e, and Öksüt mine's certification for International Cyanide Code compliance.
Social accomplishments include a 17% decrease in reportable incidents, 29% increase in local procurement spending in British Columbia, and over US$3.2 million in community investments. Governance milestones feature achieving 2026 gender diversity goals early, with 38% female representation on the Board and 33% among Officers. The company also received independent assurance of conformance with the World Gold Council's Responsible Gold Mining Principles.
Centerra Gold will release its second quarter 2024 operating and financial results on August 1, 2024, after market close. The company will hold a conference call and webcast on August 2, 2024, at 9:00 a.m. Eastern Time to discuss the results. Participants can register for the conference call or access the webcast through provided links. An audio recording of the call will be available until September 2, 2024, and the webcast will be archived until November 2, 2024, on Centerra’s website. Presentation slides will also be accessible on their website.
Centerra Gold held its 2024 Annual Meeting of Shareholders on May 14, 2024, with 71.13% of common shares represented. Key outcomes included the election of all nominated directors, re-appointment of KPMG LLP as auditors, and approval of executive compensation. Detailed results showed strong support for all directors, including Wendy Kei (99.42%), Craig MacDougall (99.82%), and others. The advisory vote on executive compensation passed with 96.63% approval.
Centerra Gold announced a quarterly dividend of C$0.07 per common share, totaling approximately C$15.0 million (US$11.1 million).
The dividend will be paid on June 12, 2024, to shareholders recorded by May 29, 2024.
This dividend is eligible for Canadian income tax purposes. The Board of Directors will determine the timing and amount of future dividends based on operating results, cash flow, financial conditions, and general business conditions.
Centerra Gold (NYSE: CGAU) has reported strong Q1 2024 results, with consolidated gold production of 111,341 ounces and copper production of 14.3 million pounds. The company achieved gold sales of 104,313 ounces at $1,841 per ounce and copper sales of 15.6 million pounds at $3.12 per pound. Net earnings for the quarter were $66.4 million ($0.31 per share), with adjusted net earnings at $31.3 million ($0.15 per share).
Centerra's cash and cash equivalents rose to $647.6 million, despite a $24.5 million payment to Royal Gold. The company repurchased 1.78 million shares for $10 million. For the quarter, cash provided by operations was $99.4 million, and free cash flow was $81.2 million.
Operational highlights include ongoing optimization at the Mount Milligan mine and elevated production at the Öksüt mine. Centerra is on track to meet its 2024 guidance, projecting total gold production between 370,000-410,000 ounces and copper production of 55-65 million pounds. The company declared a quarterly dividend of C$0.07 per share.
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