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Centerra Gold (CGAU) - 2021 Q4 - Earnings Call Transcript
2022-02-26 13:43
Centerra Gold, Inc. (NYSE:CGAU) Q4 2021 Earnings Conference Call February 25, 2022 9:00 AM ET Company Participants Toby Caron - Treasurer and Director of Investor Relations Scott Perry - President and Chief Executive Officer Darren Millman - Chief Financial Officer Dan Desjardins - Chief Operating Officer Dennis Kwong - Vice President, Business Development & Exploration Malcolm Stallman - Vice President, Exploration. Conference Call Participants Fahad Tariq - Credit Suisse Dalton Baretto - Canaccord Mike Ja ...
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
Financial Data and Key Metrics Changes - Centerra Gold reported a strong year in 2020, with gold output of 824,000 ounces, exceeding guidance, and an all-in sustaining cost of $729 per ounce, which was below guidance [8][10] - The company generated operating cash flow of $930 million and free cash flow of $604 million, with Kumtor contributing $438 million and Mount Milligan $159 million [10][23] - The company finished the year with a debt-free balance sheet and cash reserves of $545 million [11][24] Business Line Data and Key Metrics Changes - Kumtor mine produced significant gold output, with a reserve increase to 6 million ounces and a 15% increase in reserve grade [12][44] - Mount Milligan produced 82.8 million pounds of copper, contributing to the overall strong performance [8] - Öksüt mine, in its first year of operations, generated $105 million in positive free cash flow [10] Market Data and Key Metrics Changes - The company provided guidance for 2021, expecting gold production of 780,000 ounces and copper production of 75 million pounds, with free cash flow projected between $350 million and $400 million [21][28] - The guidance assumes a gold price of $1,750 per ounce, indicating a robust outlook for cash flow generation [22][28] Company Strategy and Development Direction - Centerra Gold is focused on extending the mine life at Kumtor by five years, now projected to operate until 2031, which is expected to enhance profitability [20][41] - The company aims to maintain low operating costs, with all-in sustaining costs expected to remain competitive [19][82] - The company is committed to ESG principles and has made significant progress in safety and environmental management [15][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate strong cash flows and maintain a solid balance sheet despite market fluctuations [10][30] - The management highlighted the importance of ongoing exploration and development to sustain production levels and enhance resource estimates [40][96] Other Important Information - The company divested its 50% share in the Greenstone Gold Mines Partnership for $200 million, with potential additional payments of up to $75 million [9] - Centerra Gold is a member of the World Gold Council and is working towards compliance with responsible gold mining principles [17] Q&A Session Summary Question: What are the expectations for gold production in 2021? - The company expects gold production to reach 780,000 ounces, with contributions from Kumtor, Mount Milligan, and Öksüt [21][25] Question: How does the company plan to manage costs moving forward? - The company aims to maintain competitive all-in sustaining costs and is focused on operational efficiencies to enhance margins [19][82] Question: What are the implications of the new life of mine plan for Kumtor? - The new plan extends the mine life to 2031, increases reserves significantly, and is expected to generate substantial cash flow [20][41]
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 ...