CAGDF - Centerra Gold: Newest Oksut Mine Delivers A Massive Beat

• Centerra Gold released its preliminary Q4 results last week, reporting quarterly gold production of 172,400~ ounces and copper production of 20.4 million pounds.
• While production was down sequentially from a robust Q3, the company trounced its annual guidance, driven by a smooth ramp-up at its newest Oksut Mine.
• At current metals prices, Centerra Gold is a cash-flow machine, but I find it hard to invest given that two of its three mines are in less favorable jurisdictions.
• Therefore, while the stock can be a great trading vehicle, I continue to prefer other producers trading for reasonable valuations but in safe jurisdictions.

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