Centerra Gold Inc. (TSX:CG) today issued updated estimates for the Company's reserves and resources based on its successful 2011 exploration program. TORONTO, ONTARIO--(Marketwire - Feb. 9, 2012) -
Centerra Gold Mining News
Centerra Gold Inc. CA:CG -2.62% announced today that its 2011 consolidated gold production totalled 642,380 ounces, which includes 583,156 ounces of gold from the Kumtor mine and 59,224 ounces of gold from the Boroo mine.
Centerra Gold Inc. (TSX:CG) today reported net earnings of $136.6 million or $0.58 per share on revenues of $250.2 million compared to earnings of $123.9 million or $0.53 per common share based on revenues of $255.5 million in the same quarter last year. Image by Centerra Gold
Using a gold price of $1,000 per ounce, the Kumtor open-pit LOM plan has been used to project the net cash flow for the open pit operations for the period of January 1, 2011 to 2021. Total gross revenue from the sale of gold and minor silver credits are estimated to be nearly $5.0 billion while direct operating costs are estimated to be $1.9 billion or $385 per recovered ounce of gold produced.
But, the group says its Boroo mine in Mongolia is nearing the end of its mine life and is expected to cease mining by year-end
Centerra Gold’s have been operating a VDV leaky feeder radio system, at their fast expanding Kumtor Gold Mine in Kyrgyzstan, and are now extending it as the mine grows…more at Mine Site Technologies