GOLD: Centerra beats 2013 guidance, lowers outlook for 2014

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TORONTO – Centerra Gold said its Kumtor and Boroo mines produced a total of 690,720 oz of gold in 2013. The Kumtor mine in the Kyrgyz Republic produced the lion’s share – 600,402 oz – and the Boroo mine in Mongolia contributed 90,318 oz to the total.The company said it has a goal of between 595,000 and 645,000 oz for 2014. The lower target reflects a drop in 2014 starting ore stockpile inventory and a slowdown in the rate of advance to the high grade SB zone at Kumtor. Consolidated all-in sustaining cost per ounce sold will be within a range of US$875 and US$950.Centerra is also developing the Gatsuurt gold project located near the Boroo mine in Mongolia, but any potential production from the project is not included in the company’s 2014 guidance.
Source: canadianminingjournal
Source: Bullion Bulletin

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