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Centerra Gold Reports 2022 Production, Issues 2023 Mount Milligan Mine Guidance and Provides an Update on the Öksüt Mine
TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) reports 2022 fourth quarter and full-year p
About this update from Centerra Gold Inc.
[{"type":"text","content":" TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) reports 2022 fourth quarter and full-year production, 2023 production and cost guidance for the Mount Milligan Mine and provides an update on operations at the Öksüt Mine. 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. 2022 Fourth Quarter and Annual Production Highlights Gold production in the fourth quarter of 2022 was 53,222 ounces solely from the Mount Milligan Mine. Full year 2022 gold production was 243,868 ounces, including 189,177 ounces of gold produced by the Mount Milligan Mine and 54,691 ounces produced by the Öksüt Mine. Additionally, approximately 100,000 recoverable ounces was processed into gold-in-carbon form in 2022 and remains stored at the Öksüt Mine. Copper production was 16.9 million pounds in the fourth quarter and 73.9 million pounds for the full year 2022. 2023 Mount Milligan Mine Guidance Highlights 2023 guidance at the Mount Milligan Mine is expected as follows: Gold production of 160,000 to 170,000 ounces. Copper production of 60 to 70 million pounds. Gold production costs per ounce - $900 to $950. All-in sustaining costs (“AISC”) on a by-product basis per ounceNG - $1,075 to $1,125. All-in costs (“AIC”) on a by-product basis per ounceNG - $1,125 to $1,175. Additions to PP&E - $65 to $70 million. Total capital expendituresNG - $65 to $70 million. Update on Öksüt Mine Operations Gold doré bar production remains suspended at the Öksüt Mine due to mercury detected in the gold room at the ADR plant in March 2022. The Company is currently completing construction of a mercury abatement system to allow processing of mercury bearing ores and is scheduled to be completed in late January. The total capital costs are on target at approximately $5 million. The Company is working with the relevant authorities for the required approvals to restart gold room operations at the ADR plant, which the Company expects will occur shortly after the new Environment Impact Assessment (“EIA”) for the Öksüt Mine is approved. The Company recently su...