CGAU - Centerra says Oksut mine in Turkey operating as normal after earthquake

Centerra Gold ( NYSE: CGAU ) said Tuesday its Öksüt mine in central Turkey continues to operate normally after two powerful earthquakes occurred 180 km from the mine site.

"There were no injuries to our employees or contractors at the mine, or at the company’s other offices within Turkey, and initial inspections have not detected any damage to the infrastructure at the Öksüt mine," Centerra ( CGAU ) said.

According to the Öksüt feasibility study, 28.2M metric tons of ore grading 1.3 g/t gold, containing a total of 1.2M oz, are expected to be mined and stacked over an eight-year mine life.

Centerra Gold ( CGAU ) boasts a strong balance sheet with ample cash reserves, and its shares are "oversold," ZLZ Investing writes in an analysis published recently on Seeking Alpha .

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