Centerra Gold Inc. Reports Consolidated Production Results for the Fourth Quarter and Full Year 2015; Provides Capital Expenditure Guidance for 2016
For the year, the company's consolidated gold production totaled 536,921 ounces. This production total includes 520,695 ounces of gold from the Kumtor mine, located in the Kyrgyz Republic and 16,226 ounces of gold from the Boroo mine, located in Mongolia.
For 2016, the company expects gold production to be in the range of 480,000 to 530,000 ounces. Planned exploration expenditures for 2016 total $11 million, which is approximately equal to the 2015 exploration spending. The 2016 exploration plan includes $1.0 million for further exploration work on the Öksüt property, and $10 million to fund other ongoing projects (excluding Greenstone) and generative exploration programs. The company's projected capital expenditures for 2016, excluding capitalized stripping, are estimated to be $269 million, including $85 million of sustaining capital and $184 million of growth capital.