Centerra Gold reports US$73.5-million Q1 loss compared with profit a year earlier

Centerra Gold Inc. reported a US$73.5-million loss in its first quarter compared with a profit of US$89.4 million in the same quarter last year.

The Toronto-based gold miner, which keeps its books in U.S. dollars, says its loss amounted to 34 cents per diluted share for the quarter ended March 31 compared with a profit of 30 cents per diluted share a year earlier.

Revenue for the quarter totalled US$226.5 million, down from US$295.2 million in the same quarter last year.

Gold production was 33,215 ounces, down from 93,784 ounces a year earlier, while copper production totalled 13,355 ounces, down from 20,558 pounds in the first quarter of 2022.