Centerra Gold reports Q4 adjusted EPS 28c, consensus 25c

Reports Q4 revenue $340.0M vs. $208.3M. Reports Q4 consolidated gold production of 129,259 ounces, including production of 40,503 ounces of gold from the Mount Milligan Mine and 88,756 ounces of gold from the Oksut Mine. Copper production in the quarter was 19.7 million pounds. 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 $600M. Q4 of 2023 was our second consecutive quarter of significant free cash flow, spearheaded by the re-start at Oksut 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.”