- Write by:
-
Thursday, November 5, 2020 - 5:36:52 PM
-
534 Visit
-
Print
Mining News Pro - Centerra Gold announced on Wednesday record earnings of $205.7 million and $0.70 per common share for Q3 2020. Cash flow from operations was $358.8 million, resulting in a cash position of $484.2 million at quarter-end.
“The strong operating performance at Kumtor and Mount Milligan continued into this quarter and our Öksüt mine demonstrated the additional value it brings to our operating portfolio on all metrics; production, low cost and free cash flow generation,” Centerra CEO Scott Perry said in a press release.
Total production across its operations totaled 241,448 ounces of gold and 23.3 million pounds of copper, at costs of $386/oz and $0.95/lb respectively. All-in sustaining costs (AISC) on a byproduct basis were $528/oz sold in the quarter.
Based on these results, the company made no changes to its previous gold production guidance of 740,000 to 820,000 ounces. Guidance for full year AISC on a byproduct basis per ounce sold has been reduced to $740-$790/oz.
Centerra also confirmed that the Kumtor mine was not affected by the political and social disruption in Kyrgyz Republic, with mining and gold production continuing at targeted rates.
Meanwhile, the company has declared a quarterly dividend of C$0.05 per common share – amounting to $11.3 million in cash returned to shareholders.
Centerra Gold’s stock opened 5.7% higher on Wednesday, giving the Toronto-based miner a market capitalization of approximately C$3.83 billion.
Short Link:
https://www.miningnews.ir/En/News/607997
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of ...
Australian-based Atlantic Lithium Ltd., which is developing Ghana’s first lithium mine, has taken a step toward raising ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
No comments have been posted yet ...