Outlook for 2016
● Gold production in 2016 is expected to be 480,000 to 530,000 ounces, or 14.9 and 16.5 tonnes.
● 2016 total capital expenditures, excluding capitalized stripping, are forecast to be $110 million.
● Growth capital investment for 2016 is forecast at $26 million.
● Capitalized stripping costs are expected to be approximately $122 million.
”I am pleased to report that we achieved our production guidance for the full year 2015. We beat our gold production guidance for 2015 due to relatively even quarterly gold production as compared to prior years when the majority of the ounces were produced in the fourth quarter.
Gold production for the full year 2016 at the Kumtor mine is forecast to be 480,000 to 530,000 ounces or 14.9-16.5 tonnes. In 2016, the company expects an increase in gold production in the latter half of the year after we have accessed the high-grade SB Zone in the third quarter of 2016″.
Video about Kumtor:
Interview with N. A. Meshkov, Honoured doctor of the Russian Federation, doctor of Medical Science, Professor (May 2010, Moscow )
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the second quarter of 2016. In the first six months of 2016, the Kumtor mine produced 184,168 ounces* or 5,728.27 kg of gold. The Company has contributed more than 3.01 billion soms in taxes and mandatory payments.
The fourth annual fruit-and-berry festival “Karagat Fest” was held in Teploklyuchenka village of Ak-Suu district, Issyk-Kul region, on August 6, 2016.
The State Tax Service’s Office for Control of Large Taxpayers in Bishkek and Chui oblast has completed another on-site routine inspection of Kumtor Gold Company’s compliance with the tax legislation for the period from January 1, 2014 to December 31, 2015.
A group of KGC employees visited the Kok-Jayik mobile jailoo kindergarten last weekend to donate stationeries and textbooks the kindergarten needs for regular operation.
Twenty KGC employees jointly with the representatives of local authorities, youth organizations and Jashyl Bilik Public Fund cleaned three beaches in the Ton district and built an eco-beach in the village of Ton under the Green Point Project last weekend.
Centerra Gold Inc. (TSX: CG) announced that its Board of Directors has authorized a quarterly dividend of Cdn$0.04 per common share (approximately US$7.3 million at the current exchange rate) on July 26, 2016.