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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Centerra Gold Inc.    CG   CA1520061021

CENTERRA GOLD INC.

(CG)
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Centerra Gold : Commences Crushing and Stacking Ore at the Öksüt Project

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11/14/2019 | 09:35am EST

NEWS RELEASE

Centerra Gold Commences Crushing and Stacking Ore at the Öksüt Project

TORONTO, CANADA - November 14, 2019 - Centerra Gold Inc. ("Centerra") (TSX: CG) announced today that the Öksüt Project, in Turkey has commenced crushing stockpiled ore and stacking of crushed ore on the heap leach pad following receipt of normal course approvals from the Turkish Ministry of Environment and Urbanization. The Öksüt Project remains on schedule with first gold pour expected in early January 2020.

Scott Perry, President and CEO of Centerra Gold stated, "This is an important milestone for the project as it moves into operation and is a testament to the hard work that our Öksüt team has put in to reach this goal. With Öksüt now moving into operation, the mine will soon be the Company's third source of gold production."

Cautionary Note Regarding Forward-looking Information

Information contained in this document which are not statements of historical facts, and the documents incorporated by reference herein, may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: expectations regarding the timing of first gold pour at the Öksüt Project.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. See section titled "Risks that can affect our business" in the Company's most recently filed Annual Information Form available on SEDAR at www.sedar.com.. Forward-looking information is as of November 14, 2019. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

About Centerra

Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is the largest Western-based gold producer in Central Asia. Centerra operates two flagship assets, the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in British Columbia, Canada and is building its next gold mine, the 100% owned Öksüt Mine in Turkey. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is based in Toronto, Ontario, Canada.

Additional information

Additional information on Centerra is available on the Company's website at www.centerragold.com and on SEDAR at www.sedar.com.

For further information, please contact:

John W. Pearson

Vice President, Investor Relations

Centerra Gold Inc.

416-204-1953john.pearson@centerragold.com

- end -

Disclaimer

Centerra Gold Inc. published this content on 14 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2019 14:34:09 UTC

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Financials (USD)
Sales 2019 1 391 M
EBIT 2019 289 M
Net income 2019 -42,9 M
Debt 2019 9,85 M
Yield 2019 -
P/E ratio 2019 -72,3x
P/E ratio 2020 7,21x
EV / Sales2019 1,53x
EV / Sales2020 1,42x
Capitalization 2 125 M
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 10,13  $
Last Close Price 7,23  $
Spread / Highest target 76,8%
Spread / Average Target 40,1%
Spread / Lowest Target 16,6%
EPS Revisions
Managers
NameTitle
Scott Graeme Perry President, Chief Executive Officer & Director
Michael S. Parrett Chairman
Daniel R. Desjardins Chief Operating Officer & Vice President
Darren J. Millman Chief Financial Officer & Vice President
Stephen A. Lang Director
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