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NEWS RELEASE Centerra Gold Records Third Quarter Net Earnings of $ 27.6 million ( $ 0.09 per common share ) , Adjusted Net EarningsNG of $ 35.7 million ( $ 0.12 per common share ) , Cash Provided by Operating Activities of $ 62.4 million and Free Cash FlowNG of $ 41.0 million . centerra GOLD All figures are in United States dollars and all production figures are on a 100 % basis and continuing operations basis , unless otherwise stated . This news release contains forward - looking information regarding Centerra Gold's business and operations . See " Caution Regarding Forward - Looking Information " . All references in this document denoted with " NG " indicate a non - GAAP term which is discussed under " Non - GAAP Measures " and reconciled to the most directly comparable GAAP measure . Toronto , Canada , November 5 , 2021 : Centerra Gold Inc. ( " Centerra " or the " Company " ) ( TSX : CG and NYSE : CGAU ) today reported its third quarter 2021 results . Significant financial and operating highlights of the third quarter include : Net earnings and adjusted net earningsNG of $ 27.6 million or $ 0.09 per common share ( basic ) , and $ 35.7 million or $ 0.12 per common share ( basic ) , respectively . Cash flow provided by operating activities and free cash flowNG of $ 62.4 million and $ 41.0 million , respectively . Mount Milligan Mine and Öksüt Mine recognized free cash flow from mine operations of $ 25.9 million and $ 48.9 million , respectively . ● Cash position at quarter - end of $ 911.7 million with total liquidity of $ 1,311.7 million . Consolidated production of 76,913 ounces of gold and 17.9 million pounds of copper . Consolidated gold production costs and copper production costs were $ 630 per ounce and $ 1.50 per pound , respectively . Consolidated all - in sustaining costs on a by - product basisNG and consolidated all - in costs on a by - product basis NG were $ 781 per ounce and $ 932 per ounce , respectively . Full - year 2021 cost guidance lowered for the Öksüt Mine . The Öksüt Mine's gold production costs and all - in sustaining costs on a by - product basisNG are now expected to be in the range of $ 450 to $ 500 per ounce and $ 680 to $ 730 per ounce , respectively . The Company's consolidated gold production costs and all - in sustaining costs on a by - product basisNG are now expected to be in the range of $ 600 to $ 650 per ounce and $ 700 to $ 750 per ounce , respectively . Legal proceedings relating to the Kumtor Mine continue . During the third quarter of 2021 , an arbitrator was appointed in the arbitration proceedings against the Kyrgyz Republic and Kyrgyzaltyn JSC and the Company filed an application seeking interim measures in the Kumtor arbitration proceedings to prevent , among other things , the Kyrgyz Republic and Kyrgyzaltyn JSC from causing irreparable damage to the mine . On October 27 , 2021 , the appointed arbitrator resigned , citing the refusal by the Kyrgyz Republic and Kyrgyzaltyn JSC to agree to protections he centerragold.com 1