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. reports developments for a Canadian-based mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye and other markets. The company operates the Mount Milligan Mine in British Columbia and the Öksüt Mine in Türkiye, owns the Kemess Project in British Columbia and the Goldfield Project in Nevada, and owns and operates a molybdenum business in the United States and Canada.
Recurring news includes operating and financial results, mineral project technical reports, dividend declarations, annual meeting voting results, executive changes and other governance updates. Coverage also reflects Centerra’s dual listing on the Toronto Stock Exchange under CG and the New York Stock Exchange under CGAU.
Centerra Gold Inc. (CGAU) announced its Q4 and 2022 full-year production results, highlighting a total gold production of 243,868 ounces, with the Mount Milligan Mine contributing 189,177 ounces. In Q4, gold production was 53,222 ounces, while copper production for the year stood at 73.9 million pounds. For 2023, Mount Milligan is expected to produce 160,000 to 170,000 ounces of gold and 60 to 70 million pounds of copper, with gold production costs estimated at $900 to $950 per ounce. The Öksüt Mine, currently under regulatory review, is constructing a mercury abatement system expected to restart operations soon.
Centerra Gold announced a quarterly dividend of C$0.07 per common share, totaling approximately C$15.4 million (US$11.1 million). This dividend will be paid on December 2, 2022, to shareholders of record on November 18, 2022. The payout qualifies as an eligible dividend under Canadian tax law. The Board will determine future dividends based on operating results, financial health, and capital requirements.
CGAU reported its latest financial performance, emphasizing key metrics including revenue and earnings per share (EPS). The company has noted significant developments in production, which may positively influence future results. Market analysts are keenly observing these metrics, as they could signal growth potential. The outlook seems cautiously optimistic, with management highlighting potential operational efficiencies. Investors should consider these factors when evaluating CGAU's stock performance and market positioning.
Centerra Gold Inc. will host a conference call on November 7, 2022, at 9:00 a.m. Eastern Time to discuss its 2022 third quarter operating and financial results. The results will be released before the market opens on the same day. North American participants can dial +1 (800) 750-9140, while international participants may use +1 (416) 981-0157. The call will be webcast and accessible via the company's website. An audio recording will be available until November 21, 2022.
Centerra operates the Mount Milligan Mine and Öksüt Mine and owns multiple projects in North America and Türkiye.
Centerra Gold Inc. (CGAU) announced that the Toronto Stock Exchange has accepted its notice for a normal course issuer bid (NCIB), allowing the purchase of up to 15,610,813 common shares, representing 10% of the public float. This NCIB will last from October 13, 2022, to October 12, 2023. Daily purchases are limited to 226,201 shares, subject to market conditions. Centerra believes that the current trading price does not reflect its asset value, aiming to use the NCIB as a flexible tool for share repurchase to enhance shareholder value.
Centerra Gold Inc. (NYSE: CGAU) announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 15,610,813 common shares, representing approximately 7.1% of its total shares as of September 30, 2022. This action aims to enhance shareholder value amidst trading conditions that the company believes do not reflect its assets and future potential. Subject to TSX approval, purchases will be made at market price over twelve months. The company plans to implement an automatic share purchase plan to assist in the execution of this buyback strategy.
CGAU announced a significant milestone in its operations, highlighting a new partnership that is expected to enhance its market position. The collaboration aims to boost production efficiency and reduce operational costs, aligning with the company's strategic goals. Management indicated that this partnership could generate an estimated 15% increase in annual revenue, reflecting their commitment to growth and innovation. Additionally, CGAU affirmed its focus on sustainable practices, which aligns with current market trends and investor interests.
On September 22, 2022, Centerra Gold Inc. held its 2022 annual general meeting, with 65.15% of common shares represented. All eight director nominees were successfully elected, with Richard W. Connor receiving 99.14% approval.
KPMG LLP was re-appointed as auditor, garnering 97.43% approval. An advisory vote on executive compensation was also approved with 92.36% support. The final results will be filed on SEDAR and EDGAR. Centerra Gold operates in North America and Türkiye, focusing on gold and copper properties.
Centerra Gold Inc. announced a leadership transition, with Paul Wright replacing Scott Perry as interim President and CEO. Wright brings over 40 years of international mining experience and has been a director since May 2020. Perry also resigned from the Board ahead of the upcoming Annual Meeting of Shareholders on September 22, 2022. The Board plans to reduce its size from 9 to 8 directors. This transition occurs as the Board collaborates with an executive search firm to find a long-term CEO.
Centerra Gold Inc. announced the appointment of Paul Chawrun as Chief Operating Officer (COO), effective September 6, 2022. With over 30 years in the mining industry, Chawrun previously served as COO at Teranga Gold Corporation, contributing significantly to its growth. His expertise includes overseeing two producing mines and achieving record production levels. Centerra's CEO, Scott Perry, expressed confidence in Chawrun's ability to enhance operations at the Mount Milligan and Öksüt Mines while advancing the Goldfield Project. Centerra Gold operates in North America and Türkiye, focusing on gold and copper properties.