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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
Centerra Gold Inc. (CAGDF) Q3 2020 Earnings Conference Call November 4, 2020 9:00 AM ET Company Participants Scott Perry - President, Chief Executive Officer Darren Millman - Vice President, Chief Financial Officer Dan Desjardins - Vice President, Chief Operating Officer John Pearson - Vice President, Investor Relations Conference Call Participants Mark Mihaljevic - RBC Capital Markets Mike Parkin - National Bank Fahad Tariq - Credit Suisse Anita Soni - CIBC World Markets Operator Greetings and welcome to t ...
Centerra Gold (CGAU) - 2020 Q3 - Earnings Call Presentation
2020-11-04 15:26
Kumtor Mount Milligan Öksüt centerragolo n a tax BUILT FOR SUCCESS Third Quarter Results Conference Call November 4, 2020 TSX: CG www.centerragold.com Senior Management Participants SCOTT PERRY +23 years President and Chief Executive Officer DAN DESJARDINS Chief Operating Officer +30 years • Appointed Chief Operating Officer in January 2020 • Joined Centerra Gold in 2015 DARREN MILLMAN Chief Financial Officer +22 years • Appointed Chief Financial Officer in April 2016 • Joined Centerra Gold in 2013 YOUSEF R ...
Centerra Gold (CGAU) - 2020 Q2 - Earnings Call Transcript
2020-07-31 20:28
Financial Data and Key Metrics Changes - The company reported net earnings of $80.7 million for Q2 2020, equating to $0.27 per share, with adjusted earnings after excluding non-cash adjustments at $97.8 million, or $0.33 per share [12][40]. - Cash provided by operations was strong at $268 million, leading to a free cash flow generation of $169 million for the quarter [12][42]. - The company finished the quarter with a debt-free balance sheet and a net cash position of $212 million, with total liquidity of $712 million [14][43]. Business Line Data and Key Metrics Changes - Gold production for the quarter was 219,692 ounces, with an all-in sustaining cost of $804 per ounce [26][41]. - Kumtor produced 173,245 ounces of gold at an all-in sustaining cost of $696 per ounce, while Mount Milligan produced 35,656 ounces at $679 per ounce, and Öksüt produced 10,791 ounces at $537 per ounce [27][33][42]. - All operations generated positive free cash flow, with Kumtor contributing $156.9 million, Mount Milligan $34 million, and Öksüt $5 million [13][29][42]. Market Data and Key Metrics Changes - The average realized gold price during the quarter was $1,620 per ounce, with copper at $2.06 per pound [38]. - Gold ounces sold increased by 10% compared to the prior year quarter, with a slight increase in copper sales [39]. Company Strategy and Development Direction - The company maintained its full-year gold production guidance between 740,000 ounces to 820,000 ounces for 2020, with expectations of increased production from Öksüt as it ramps up [44][45]. - A focus on capital allocation was highlighted, with discussions on how to utilize the growing cash reserves effectively [104]. Management Comments on Operating Environment and Future Outlook - Management noted that all operations remained virus-free during the COVID-19 pandemic, and the company has implemented strong safety measures [8][9]. - The company expects continued strong free cash flow generation and profitability due to rising gold prices and operational efficiencies [12][17]. Other Important Information - The company increased its quarterly dividend by 25% to $0.05 per share, reflecting confidence in its financial position [16][46]. - The company is planning to release an updated 43-101 technical report for Kumtor in the fall of 2020, which is expected to showcase an extended mine life [51][52]. Q&A Session Summary Question: Sustainability of elevated grade profile at Kumtor - Management indicated that while the grade will lower in the second half, they have flexibility in blending high, medium, and low-grade ores to maximize recoveries [60][62]. Question: Cost improvements at Mount Milligan - The improvements are attributed to operational efficiencies, lower diesel prices, and a streamlined organizational structure [64]. Question: Implications of COVID-19 on 2021 production profile - Management confirmed that 2021 production is expected to be consistent with original plans, despite not mining any ore in 2020 [73][76]. Question: Long-term water solution for Mount Milligan - There are no major milestones expected in the short term, but the company is working on expanding current water sources [92]. Question: Capital allocation strategy - The board is actively discussing capital allocation strategies, including potential investments and maintaining a strong liquidity position [104].
Centerra Gold (CGAU) - 2020 Q2 - Earnings Call Presentation
2020-07-31 13:37
Kumtor Mount Milligan Öksüt centerragolo n a tax BUILT FOR SUCCESS Second Quarter Results Conference Call July 31, 2020 TSX: CG www.centerragold.com Senior Management Participants Industry Experience Background SCOTT PERRY +23 years President and Chief Executive Officer • Appointed Chief Executive Officer in November 2015 • President and Chief Executive Officer in January 2018 • Former Chief Executive Officer at AuRico Gold DAN DESJARDINS Chief Operating Officer +30 years • Appointed Chief Operating Officer ...
Centerra Gold (CGAU) - 2020 Q1 - Earnings Call Transcript
2020-05-01 22:14
Centerra Gold Inc. (CAGDF) Q1 2020 Earnings Conference Call May 1, 2020 8:30 AM ET Company Participants John Pearson - VP, IR Scott Perry - President & CEO Dan Desjardins - COO Darren Millman - CFO Conference Call Participants Daniel McConvey - Rossport Investments Operator Greetings, and welcome to the First Quarter Results Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminde ...
Centerra Gold (CGAU) - 2020 Q1 - Earnings Call Presentation
2020-05-01 17:22
Kumtor Mount Milligan Öksüt centerragolo n a treat the see and the see and the see and the seen and the seen and the seen and the sential of the seen of the seen of the seen of the seen and the series of the serie BUILT FOR SUCCESS First Quarter Results Conference Call May 1, 2020 TSX: CG www.centerragold.com Senior Management Participants Industry Experience Background SCOTT PERRY +23 years President and Chief Executive Officer • Appointed Chief Executive Officer in November 2015 • President and Chief Exec ...