Centerra Gold 4Q highlights
Centerra Gold was up 4.38% to $5.01 after announcing net earnings of $106.6 million or $0.45 per common share in the fourth quarter of 2013.
Fourth quarter highlights were the following:
- Full year gold production and costs were better than guidance.
- Produced 362,234 ounces of gold in the fourth quarter, including 348,130 ounces at Kumtor and 14,104 ounces at Boroo.
- Increased revenues to $468.9 million compared to $368.5 million in the same quarter of 2012.
- All-in sustaining costs per ounce sold were $433 in fourth quarter and $818 for the full year.
- All-in costs per ounce sold were $474 in the fourth quarter and $920 for the full year.
- Increased indicated resources at the Öksüt project in Turkey by 60% to 1.1 million contained ounces of gold.
- Proven and probable gold reserves total 10.2 million ounces of contained gold.
- Cash provided by operations was $359.5 million compared to $209.1 million in the fourth quarter of 2012.
- Entered into a non-binding Heads of Agreement with the Kyrgyz Republic in connection with the potential restructuring of the Kumtor project, replaces MOU signed in September 2013.