Centerra Gold Inc. reported a net loss of US$39.7 million in the second quarter of 2023, down from a loss of US$2.6 million a year earlier.聽
The Toronto-based gold miner says revenue for the quarter ended June 30 was US$184.5 million, up from US$167.7 million last year.聽
Centerra says it produced 61,622 ounces of gold, up 44 per cent from 42,729 the same quarter last year.聽
President and CEO Paul Tomory says a review of Centerra's assets is underway, with the intent to develop a comprehensive value-maximizing strategic plan.
He says the second quarter was pivotal for the company, which achieved several milestones that should contribute to stronger performance in the second half of the year.聽
These include getting approval from the Turkish environment ministry for the Oksut Mine's amended environmental impact assessment, allowing the mine to restart full operations in early June.聽
This report by The Canadian Press was first published July 31, 2023.
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