Toronto’s Centerra Gold (CG) has reported a net loss of -$39.7 million U.S. for this year’s second quarter, which is 1,426% greater than a loss of -$2.6 million U.S. a year earlier.
Company President Paul Tomory said that a review of Centerra Gold's assets is now underway with a view to maximizing value for shareholders.
Despite the steep quarterly loss, the gold miner reported that its revenue for the quarter ended June 30 was $184.5 million U.S., up 10% from $167.7 million U.S. last year.
Centerra Gold said it produced 61,622 ounces of gold in Q2, up 44% from 42,729 ounces during the same quarter of 2022.
The company also reported that it received approval from the Turkish environment ministry for its Oksut Mine site to restart full operations in early June of this year.
Centerra Gold’s stock has increased 4% over the last 12 months to trade at $8.46 per share.
