The dividend is an eligible dividend for Canadian income tax
purposes.
In accordance with Centerra's dividend policy, the timing and quantum
of dividends are to be determined by the Board of Directors from time to
time based on, among other things, the Company's operating results, cash
flow and financial conditions, Centerra's current and anticipated capital
requirements, and general business conditions. While Centerra
currently intends to pay quarterly dividends to its shareholders, there
are no assurances in this regard.
About Centerra
Centerra is a gold mining company focused on operating, developing,
exploring and acquiring gold properties primarily in Asia, the former
Soviet Union and other emerging markets worldwide. Centerra is a
leading North American-based gold producer and is the largest
Western-based gold producer in Central Asia. Centerra's shares trade
on the Toronto Stock Exchange (TSX) under the symbol CG. The Company
is headquartered in Toronto, Ontario, Canada.
Cautionary Note Regarding Forward-looking
Information
Information contained in this news release which is not a statement of
historical facts, may be "forward looking information" for the purposes of
Canadian securities laws. Such forward looking information involves
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those
expressed or implied by such forward looking information. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan",
"intends", "continue", "budget", "estimate", "may", "will", "schedule" and
similar expressions identify forward looking information. These
forward looking statements include, but are not limited to, statements
with respect to Centerra's intentions to continue paying quarterly
dividends, the future price of gold, the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, Centerra's
expectations regarding future production, cash cost per ounce produced and
expected milling plan for 2012; Centerra's statements regarding future
growth, results of operations, future production and sales, operating
capital expenditures, and performance; expected trends in the gold market,
including with respect to costs of gold production; capital and
operational expenses for 2012; exploration plans for 2012 and the success
thereof; mining plans at each of Centerra's operations; the receipt of
permitting and regulatory approvals at Centerra's Gatsuurt development
property; the impact of the Water and Forest Law on Centerra's Mongolian
activities; permitting of the heap leach activities at the Boroo mine;
anticipated delays and approvals and regulatory commissioning of the
Gatsuurt development property as a result of the Water and Forest Law;
Centerra's ability to successfully manage the ice and waste movement at
Kumtor and to access reserves in the southwest portion of the Kumtor pit
in September 2012; Centerra's business and political environment and
business prospects; and the timing and development of new
deposits.
Forward-looking information is necessarily based upon a number of
estimates and assumptions that, while considered reasonable by Centerra,
are inherently subject to significant political, business, economic and
competitive uncertainties and contingencies. Such factors include,
among other things: the sensitivity of the Centerra's business to the
volatility of gold prices; the political risks associated with Centerra's
principal operations in the Kyrgyz Republic and Mongolia; the impact of
changes in, or to the more aggressive enforcement of, laws, regulations
and government practices in the jurisdictions in which Centerra operates;
the effect of the Water and Forest Law on Centerra's operations in
Mongolia; ground movements at the Kumtor project; waste and ice movement
at the Kumtor project; the success of Centerra's future exploration and
development activities, including the financial and political risks
inherent in carrying out exploration activities; competition for mineral
acquisition opportunities, and such other factors as described under the
heading "Risk Factors" in Centerra's annual information form for the year
ended December 31, 2011 available at www.sedar.com.
There can be no assurances that forward looking information and
statements will prove to be accurate, as many factors and future events,
both known and unknown could cause actual results, performance or
achievements to vary or differ materially, from the results, performance
or achievements that are or may be expressed or implied by such forward
looking statements contained herein or incorporated by
reference. Accordingly, all such factors should be considered
carefully when making decisions with respect to Centerra, and prospective
investors should not place undue reliance on forward looking
information. Forward looking information is as of May 15,
2012. Centerra assumes no obligation to update or revise forward
looking information to reflect changes in assumptions, changes in
circumstances or any other events affecting such forward looking
information, except as required by applicable law.
Additional information on Centerra is available on the
Company's web site at www.centerragold.com and
at SEDAR at www.sedar.com.