Centerra Gold (CGAU)

Search documents
Centerra Gold (CGAU) - 2021 Q4 - Earnings Call Presentation
2022-02-25 16:31
Mount Milligan Öksüt Goldfield District Project centerragolo n a first and the many of the subject of the state of the state of the state of the station of the station of the state of the DELIVER ON RESULTS 2021 Fourth Quarter Results Conference Call – February 25, 2022 TSX: CG NYSE: CGAU www.centerragold.com Senior Management Participants SCOTT PERRY President and Chief Executive Officer +25 years • Appointed Chief Executive Officer in November 2015 • Former Chief Executive Officer at AuRico Gold DAN DESJA ...
Centerra Gold (CGAU) - 2021 Q4 - Annual Report
2022-02-24 16:00
Management's Discussion and Analysis For the Years Ended December 31, 2021 and 2020 centerragold.com This Management's Discussion and Analysis ("MD&A") has been prepared as of February 24, 2022 and is intended to provide a review of the financial position and results of operations of Centerra Gold Inc. ("Centerra" or the "Company") for the three and twelve month periods ended December 31, 2021 in comparison with the corresponding periods ended December 31, 2020. This discussion should be read in conjunction ...
Centerra Gold (CGAU) - 2021 Q3 - Earnings Call Presentation
2021-11-10 21:24
Financial Performance - The company reported Q3 2021 net earnings of $276 million, or $009 per share (basic), and adjusted net earnings of $357 million, or $012 per share (basic)[10] - Q3 2021 cash provided by operating activities was $624 million, or $021 per share, with $433 million from Mount Milligan and $521 million from Öksüt[10] - Free cash flow from continuing operations in Q3 2021 was $410 million, including $259 million from Mount Milligan and $489 million from Öksüt[10] - The company maintains a debt-free balance sheet with a cash balance of $9117 million and total liquidity of $13117 million as of September 30, 2021[10] Production and Costs - Q3 2021 gold production was 76,913 ounces, and copper production was 179 million pounds[8] - Gold production costs in Q3 2021 were $630 per ounce ($774/oz at Mount Milligan and $481/oz at Öksüt), and copper production costs were $150 per pound[8] - All-in sustaining costs (AISC) on a by-product basis in Q3 2021 were $781 per ounce ($727/oz at Mount Milligan and $603/oz at Öksüt)[8] - All-in costs (AIC) on a by-product basis in Q3 2021 were $932 per ounce ($781/oz at Mount Milligan and $644/oz at Öksüt)[8] Guidance and Operations - The company is on track to achieve 2021 gold production guidance at Mount Milligan and Öksüt[8] - Öksüt's all-in sustaining costs guidance on a by-product basis was lowered to a range of $680/oz-$730/oz, and the revised consolidated all-in sustaining costs guidance is $700/oz-$750/oz[8] - Mount Milligan has adequate volumes of stored water to run at full capacity for the year, and the staged flotation reactors installation is on track to improve recoveries[20] ESG Initiatives - The company is focused on safety leadership training and awareness[13] - A new Diversity, Equity, & Inclusion (DE&I) target was established to achieve 30% female representation on Centerra's Board of Directors and Officer Group by 2026[13]
Centerra Gold (CGAU) - 2021 Q3 - Earnings Call Transcript
2021-11-05 16:33
Centerra Gold Inc. (NYSE:CGAU) Q3 2021 Earnings Conference Call November 5, 2021 9:00 AM ET Company Participants John Pearson – Vice President-Investor Relations Scott Perry – President and Chief Executive Officer Dan Desjardins – Chief Operating Officer Darren Millman – Chief Financial Officer Conference Call Participants Trevor Turnbull – Scotiabank Anita Soni – CIBC World Markets Dalton Baretto – Canaccord Fahad Tariq – Credit Suisse Anita Soni – CIBC World Markets Operator Greetings, and welcome to the ...
Centerra Gold (CGAU) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
EXHIBIT 99.1 Centerra Gold Records Third Quarter Net Earnings of $27.6 million ($0.09 per common share), Adjusted Net EarningsNG of $35.7 million ($0.12 per common share), Cash Provided by Operating Activities of $62.4 million and Free Cash FlowNG of $41.0 million All figures are in United States dollars and all production figures are on a 100% basis and continuing operations basis, unless otherwise stated. This news release contains forward-looking information regarding Centerra Gold's business and operati ...
Centerra Gold (CGAU) - 2021 Q2 - Earnings Call Transcript
2021-08-10 16:57
Centerra Gold Inc. (NYSE:CGAU) Q2 2021 Earnings Conference Call August 10, 2021 9:00 AM ET Company Participants John Pearson - VP, IR Scott G. Perry - President and CEO Darren J. Millman - VP and CFO Daniel R. Desjardins - VP and COO Conference Call Participants Trevor Turnbull - Scotiabank Michael Siperco - RBC Capital Markets Anita Soni - CIBC World Markets Michael Jalonen - Bank of America Merrill Lynch Operator Greetings and welcome to the Centerra Gold 2021 Second Quarter Results Conference Call. Durin ...
Centerra Gold (CGAU) - 2021 Q2 - Earnings Call Presentation
2021-08-10 13:59
。 Mount Milligan DELIVER ON RESULTS Öksüt 2021 Second Quarter Results Conference Call – August 10, 2021 TSX: CG NYSE: CGAU www.centerragold.com Senior Management Participants | --- | --- | --- | --- | |-------|----------------------------------------------------|----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | Industry Experience | Background | | | SCOTT PERRY ...
Centerra Gold (CGAU) - 2020 Q4 - Earnings Call Transcript
2021-02-25 04:26
Centerra Gold Inc. (CAGDF) Q4 2020 Earnings Conference Call February 24, 2021 9:00 AM ET Company Representatives Scott Perry - President, Chief Executive Officer Darren Millman - Chief Financial Officer Dan Desjardins - Chief Operating Officer Malcolm Stallman - Vice President Exploration Yousef Rehman - General Counsel John Pearson - Vice President, Investor Relations Conference Call Participants Fahad Tariq - Credit Suisse Brian MacArthur - Raymond James Trevor Turnbull - Scotiabank Mike Parkin - National ...
Centerra Gold (CGAU) - 2020 Q4 - Earnings Call Presentation
2021-02-24 19:25
Kumtor n 88 Mount Milligan Öksüt BUILT FOR SUCCESS 2020 Fourth Quarter and Year-End Results Conference Call - February 24, 2021 TSX: CG www.centerragold.com Caution Regarding Forward-Looking Information Information contained in this document which are not statements of historical facts, and the documents incorporated by reference herein, may be "forward-looking information" for the purposes of Canadian securities laws. Such forwardlooking information involves risks, uncertainties and other factors that coul ...
Centerra Gold (CGAU) - 2020 Q3 - Earnings Call Transcript
2020-11-04 17:46
Financial Data and Key Metrics Changes - Centerra Gold recorded net earnings of $205.7 million, or $0.70 per share, for Q3 2020, reflecting strong profitability [18][47] - The company generated $281 million in positive free cash flow during the quarter, contributing to a year-to-date total of $527 million [19][49] - The cash balance at the end of the quarter was $484 million, with no corporate debt outstanding, resulting in a net cash position [20][50] Business Line Data and Key Metrics Changes - Gold production for the quarter was 241,484 ounces, with Oksut contributing 51,412 ounces, Kumtor producing 140,000 ounces, and Mount Milligan producing 49,854 ounces [29][30][34] - The all-in sustaining cost (AISC) for the company was $528 per ounce, with Kumtor at $639 per ounce, Mount Milligan at $165 per ounce, and Oksut at $416 per ounce [48][49] - Oksut mine generated $74 million in free cash flow during its first full quarter of commercial production [39][49] Market Data and Key Metrics Changes - The average gold price realized during the quarter was $1,807 per ounce, while copper was $2.43 per pound [46] - The company sold 238,000 ounces of gold and 21.7 million pounds of copper during the quarter [46] Company Strategy and Development Direction - Centerra Gold is focused on maintaining production guidance for 2020 at 740,000 to 820,000 ounces of gold, while targeting the upper end of this range [52][55] - The company has reduced its AISC guidance for Mount Milligan and Oksut, reflecting effective cost control and favorable operational conditions [51] - The company is committed to advancing its exploration programs and maintaining strong operational performance despite uncertainties in the global environment [67] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of optimizing operations and maximizing production, particularly in light of the economic challenges posed by the COVID-19 pandemic [65][68] - The company is cautious about future capital allocation and dividend decisions, with ongoing discussions at board meetings to assess the situation [72][73] Other Important Information - Centerra Gold achieved a significant safety milestone at Oksut, reaching 3 million hours of lost time incident-free operations [8] - The company is a signatory to the World Gold Council's responsible gold mining principles and is making progress in implementing these principles across its operations [14] Q&A Session Summary Question: Update on Kumtor's mining rates and production outlook - Management indicated that mining rates have been impacted by longer hauls and workforce availability, but production numbers for next year are expected to be similar to previous forecasts [60][62] Question: Investments in Kyrgyzstan during the political transition - Management is focused on optimizing operations and maximizing production, emphasizing their role as a significant tax contributor to the country [65][66] Question: Cash balance in Kyrgyzstan - The company maintains minimal cash in-country, with local requirements being met from a New York bank account [69] Question: Future capital allocation and dividend updates - The board will continue to discuss dividend distribution and capital allocation in light of ongoing uncertainties [72][73] Question: Update on life of mine plans and ESG initiatives - Management expects to publish the life of mine update by the end of February 2021 and highlighted ongoing community support initiatives during the pandemic [76][79]