Centerra Gold (US:CGAU)2020-05-01 17:22Financial Performance - Q1 2020 net earnings were $20.0 million, or $0.07 per share (basic), while adjusted net earnings were $46.4 million, or $0.16 per share (basic)[16] - Cash provided by operations in Q1 2020 was $121.1 million ($0.41 per share)[20, 44] - Consolidated free cash flow for Q1 2020 was $77 million, with $96 million from Kumtor and $22 million from Mount Milligan[20] - The company's cash balance as of March 31, 2020, was $194 million, with total liquidity of $558 million[20] - Revenue for Q1 2020 was $374.045 million, compared to $334.040 million in Q1 2019[42] Production and Costs - Consolidated gold production for Q1 2020 was 190,474 ounces, and copper production was 20.1 million pounds[18] - Q1 2020 production costs per ounce sold were $423 ($322 at Kumtor and $827 at Mount Milligan)[17] - All-in sustaining costs (AISC) on a by-product basis for Q1 2020 were $712 per ounce sold[18] - Kumtor's AISC on a by-product basis was $644 per ounce sold, while Mount Milligan's was $901 per ounce sold[27] 2020 Guidance - The company estimates 2020 gold production to be up to 820,000 ounces and copper production to be up to 90 million pounds[49, 56] - The company estimates 2020 AISC to be $820 to $870 per ounce[49, 56] - Kumtor is expected to produce 520,000-560,000 ounces of gold in 2020, with AISC of $750-$800 per ounce[57] - Mount Milligan is expected to produce 140,000-160,000 ounces of gold and 80-90 million pounds of copper in 2020, with AISC of $885-$935 per ounce[57] - Öksüt is expected to produce 80,000-100,000 ounces of gold in 2020, with AISC of $650-$700 per ounce[57]