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Centerra Gold Inc T.CG

Alternate Symbol(s):  CGAU

Centerra Gold Inc. is a Canada-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Turkiye, and other markets worldwide. The Company operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Oksut Mine in Turkiye. The Company also owns the Goldfield District Project in Nevada, United States; the Kemess Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United States and Canada. The Mount Milligan Mine is an open pit mine located in north central British Columbia, Canada producing a gold and copper concentrate. The Oksut Mine is located in Turkiye approximately 300 kilometers southeast of Ankara and 48 kilometers south of Kayseri, the provincial capital. The Molybdenum BU includes the Langeloth Facility in Pennsylvania and two North American molybdenum mines: the Thompson Creek Mine in Idaho and the 75%-owned Endako Mine in British Columbia.


TSX:CG - Post by User

Bullboard Posts
Post by Thechaseron Apr 28, 2010 7:40pm
435 Views
Post# 17041897

Cannot ask for more...Fantastic

Cannot ask for more...Fantastic

Gold production for the first quarter was 211,039 ounces compared to 103,204 ounces reported in the first quarter of 2009. Gold production at Kumtor was significantly higher for the period which more than offset lower production at Boroo. At Kumtor, production was higher than anticipated due to the processing of higher grade stockpiles established in the fourth quarter of 2009 and extracting more ore than expected from the benches mined in the first quarter of 2010. Production at Boroo was lower in the first quarter 2010 mainly due to the heap leach operation remaining idle during the quarter.

Centerra's total cash cost per ounce of gold produced was $340 in the first quarter compared to $871 in the first quarter of 2009. The year-over-year decrease in unit cash costs was primarily due to the increased production at Kumtor and lower operating costs at both sites (see "Operations Update"). (Total cash cost is a non-GAAP measure and is discussed under "Non-GAAP Measures" in the Management's Discussion and Analysis for the three months ended March 31, 2010, issued in conjunction with this news release.)

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