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Centerra Gold Achieves 2023 Production Guidance; Begins 2024 with Over $600 Million in Cash and Cash Equivalents; Announces 2024 Outlook
All figures are in United States dollars. All production figures reflect payable metal quantities and are on a 100% basis, unless otherwise stated. For referenc
About this update from Centerra Gold Inc.
[{"type":"text","content":" 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. 14, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announces preliminary production results for the fourth quarter and full year ended December 31, 2023, and issues 2024 guidance. Centerra will release its fourth quarter and full year 2023 operating and financial results after the market closes on Thursday February 22, 2024. The Company will host a conference call and webcast to discuss the results on Friday February 23, 2024, at 9:00 am Eastern Time. Details for the conference call and webcast are included at the end of this news release. 2023 Fourth Quarter and Full Year Highlights Fourth quarter 2023 gold production was 129,259 ounces. Full year 2023 gold production was 350,317 ounces, which was near the midpoint of the 2023 gold production guidance range of 340,000 to 360,000 ounces, as published on July 31, 2023. Copper production was 19.7 million pounds in the fourth quarter 2023, and 61.9 million pounds for the full year 2023, in line with the 2023 copper production guidance range of 60 to 70 million pounds, as published on January 16, 2023. As at December 31, 2023, unaudited preliminary cash and cash equivalents was $613 million. Consolidated full year 2023 production costs and all-in sustaining costs (“AISC”) on a by-product basisNG are expected to be near the midpoint of the previously disclosed guidance ranges of $700 to $750 per ounce and $1,000 to $1,050 per ounce, respectively. 2024 Guidance Highlights 2024 gold production guidance of 370,000 to 410,000 ounces, an 11% increase from the midpoint of guidance year-over-year. 2024 copper production guidance of 55 to 65 million pounds. 2024 gold production cost guidance of $800 to $900 per ounce and AISC on a by-product basisNG guidance of $1,075 to $1,175 per ounce. 2024 sustaining capitalNG guidance of $100 to $125 million and non-sustaining capitalNG guidance of $8 to $15 million. 2024 exploration guidance of $35 to $45 million, including $17 to $22 million of brownfield exploration, and $18 to $...