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Centerra Gold Inc (CGAU) provides investors and industry observers with essential updates about its gold mining operations and exploration activities across Turkey, North America, and global markets. This dedicated news hub consolidates official press releases and verified updates related to production milestones, financial disclosures, and strategic developments.
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Centerra Gold Inc. has finalized its global arrangement agreement with Kyrgyzaltyn JSC and the Government of the Kyrgyz Republic concerning the Kumtor mine. The transaction led to Centerra purchasing and canceling all 77,401,766 common shares held by Kyrgyzaltyn, in exchange for a 100% equity interest in its Kyrgyz subsidiaries and cash payments around US$85 million. Kyrgyzaltyn will assume all responsibilities for the Kumtor mine, including reclamation and environmental duties. As a result, Centerra now has 220,083,541 common shares outstanding.
Centerra Gold Inc. (NYSE: CGAU) announced that at a special meeting of shareholders, 96.83% voted in favor of a proposed plan of arrangement related to a global agreement with Kyrgyzaltyn JSC and the Kyrgyz Government. This transaction is subject to an Ontario Superior Court approval, with a hearing anticipated on July 28, 2022. Additionally, Centerra received an extension from the Toronto Stock Exchange to hold its annual meeting by September 30, 2022, with details to follow. The company emphasizes the potential risks associated with the transaction, including political and regulatory uncertainties in Kyrgyzstan.
Centerra Gold Inc. will hold a conference call and webcast on August 10, 2022, at 9:00 a.m. ET to discuss its Q2 2022 operating and financial results. The results will be released before market opening on the same day. North American participants can dial +1 (800) 764-8268, while international callers can reach +1 (416) 981-9010. The call will also be accessible via a live webcast, with slides available on the company's website. An audio recording will be available until August 24, 2022.
Centerra Gold has announced a special meeting of shareholders on July 25, 2022, to vote on a proposed plan of arrangement concerning the global arrangement agreement with Kyrgyzaltyn JSC and the Kyrgyz Government. The meeting will be held virtually at 11:00 a.m. Toronto time, with a record date of June 27, 2022. The Arrangement requires two-thirds approval from the shareholders. The Board of Directors recommends voting in favor of the resolution. There is a caution regarding the uncertainty of satisfying the conditions for the Arrangement.
Centerra Gold Inc. (CGAU) has announced a quarterly dividend of C$0.07 per share, totaling approximately C$20.8 million (US$16.6 million), payable on June 1, 2022. Shareholders of record by May 18, 2022, will receive this eligible dividend. The Board of Directors will determine future dividends based on operating results, cash flow, financial conditions, and capital requirements.
Centerra operates gold and copper properties across North America and Turkey, with current operations including the Mount Milligan Mine and the Öksüt Mine, alongside development and exploration projects.
CGAU reported net earnings of $89.4 million or $0.30 per common share for the recent quarter. Adjusted net earnings stood at $56.4 million, equivalent to $0.19 per common share. All figures are in United States dollars and are based on a continuing operations basis.
This performance reflects the company's ongoing commitment to operational excellence and profitability.
Centerra Gold Inc. will host a conference call on May 4, 2022, at 9:30 a.m. ET to discuss its Q1 2022 operating and financial results. The results will be released before the market opens that day. North American participants can dial +1 (877) 758-1913, while international callers may use +1 (416) 641-6202. The call will be webcast live, and an audio recording will be available until May 18, 2022. Centerra Gold is focused on gold and copper mining in North America and Turkey, operating the Mount Milligan and Öksüt mines.
Centerra Gold Inc. has entered a global arrangement agreement with Kyrgyzaltyn JSC and the Kyrgyz Government to facilitate a clean separation regarding the Kumtor Mine. This agreement involves Kyrgyzaltyn transferring 77.4 million Centerra shares, representing approximately 26% equity interest, to Centerra for C$972 million. In return, Kyrgyzaltyn will gain full ownership of two Kyrgyz subsidiaries and the Kumtor Mine, along with a cash payment. The arrangement is subject to shareholder approval and legal proceedings termination, expected to close within 90 days. The Board recommends support for the deal.
Centerra Gold Inc. announced on March 28, 2022, that the Kyrgyz Republic's Cabinet of Ministers has approved negotiations for a transaction concerning its Kumtor Mine. The expected deal will likely involve exchanging Centerra's Kumtor interest for shares of Kyrgyzaltyn JSC and include the resolution of all claims between the parties. However, there is no guarantee that this transaction will reach completion, as ongoing processes and approvals remain pending. Centerra continues to navigate significant uncertainties regarding this agreement.
Centerra Gold Inc. (CGAU) has filed its 2021 annual report on Form 40-F with the U.S. Securities and Exchange Commission. This report includes the annual information form, audited financial statements, and management’s discussion and analysis, accessible via EDGAR and SEDAR. Additionally, these documents are available on the company's website. Centerra operates two gold mines and owns properties in North America and Turkey, while the Kumtor Mine remains outside its control.
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