Centerra Gold Achieves 2017 Consolidated Gold Production Guidance, Beats Cost Guidance, Records $210 Million Net Earnings and Generates $234 Million Free Cash Flow(NG) and Provides 2018 Outlook

Feb. 23, 2018 08:57AM PST

Centerra Gold (“Centerra”) (TSX:CG) today reported net earnings of $130.0 million or $0.45 per common share (basic) on revenues of $358.2 million in the fourth quarter of 2017. The fourth quarter 2017 result includes a tax benefit of $21.3 million as a result of a change in tax legislation enacted in the U.S. Excluding this …

Centerra Gold (“Centerra”) (TSX:CG) today reported net earnings of $130.0 million or $0.45 per common share (basic) on revenues of $358.2 million in the fourth quarter of 2017.

The fourth quarter 2017 result includes a tax benefit of $21.3 million as a result of a change in tax legislation enacted in the U.S. Excluding this item, adjusted earnings in the fourth quarter of 2017 were $108.7 million or $0.37 per common share (basic). During the same period in 2016, the Company reported net earnings of $63.6 million or $0.23 per common share (basic) on revenues of $305.7 million and adjusted earnings of $68.6 million or $0.24 per common share (basic).

Scott Perry, President and Chief Executive Officer of Centerra stated:

“I am pleased to report that we met our overall gold production guidance producing 785,316 ounces at an all-in sustaining cost on a by-product basis of $688 per ounce sold, beating the low-end of our all-in-sustaining cost guidance for the year. ”

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