Centerra Gold Reports Fourth Quarter and Full Year 2023 Results; Second Consecutive Quarter of Strong Cash Flow from Operating Activities; Over $600 Million in Cash and Cash Equivalents
All figures are in United States dollars. All production figures reflect payable metal quantities and are on a 100% basis, unless otherwise stated. For references denoted with NG, refer to the “Non-GAAP and Other Financial Measures” disclosure at the end of this news release for a description of these measures.

TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) today reported its fourth quarter and full year 2023 operating and financial results.

President and CEO, Paul Tomory, commented, “Centerra delivered a strong finish to 2023, producing 350,317 ounces of gold and 61.9 million pounds of copper in the full year, with Mount Milligan achieving the highest mill throughput since the start of operations in August 2013. We met our revised 2023 production and cost guidance, and ended the year with robust cash and cash equivalents of over $600 million. The fourth quarter of 2023 was our second consecutive quarter of significant free cash flow, spearheaded by the re-start at Öksüt in June 2023. In 2024, we expect to produce between 370,000 and 410,000 ounces of gold, which the midpoint is 11% higher than last year’s production, and copper production is expected to be between 55 and 65 million pounds. We are well-positioned for a strong 2024 as we continue to deliver on our strategic plan and maximize the value of the assets in our portfolio.”

Fourth Quarter 2023 Highlights

Operations

Production: Fourth quarter 2023 consolidated gold production of 129,259 ounces, including production of 40,503 ounces of gold from the Mount Milligan Mine (“Mount Milligan”) and 88,756 ounces of gold from the Öksüt Mine (“Öksüt”). Copper see & read more on
https://www.centerragold.com/news-releases/2024/centerra-gold-reports-fourth-quarter-and-full-year-2023-results-second-consecutive-quarter-of-strong-cash-flow-from-operating-activities-over-600-million-in-cash-and-cash-equivalents/

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Centerra Gold Announces Quarterly Dividend of C$0.07 per Common Share.
Centerra Gold Announces Quarterly Dividend of C$0.07 per Common Share
TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share – approximately C$15.1 million or US$11.2 million. The quarterly dividend is payable on March 27, 2024, to shareholders of record as of the close of business on March 13, 2024. The dividend is an eligible dividend for Canadian income tax purposes.

In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating results, cash flow and financial conditions, current and anticipated capital requirements, and general business conditions.