Centerra Gold Inc. announced consolidated production results for the quarter and year ended December 2016. For the period, the gold production totalled 598,677 ounces of gold, which includes gold production from the Mount Milligan mine. This includes 550,960 ounces of gold from the Kumtor mine, located in the Kyrgyz Republic and 47,717 ounces of gold from the Mount Milligan mine, located in northern British Columbia, Canada. During the fourth quarter of 2016, Centerra's gold production was 248,479 ounces, including 200,762 ounces of gold produced by the Kumtor mine and 47,717 ounces of gold produced by the Mount Milligan mine from October 20, 2016 to December 31, 2016. Centerra's copper production from Mount Milligan was 10.4 million pounds for the period October 20, 2016 to December 31, 2016. During the full fourth quarter of 2016, Mount Milligan produced 54,725 ounces of gold and 12.6 million pounds of copper.

At the Mount Milligan mine, for the full year of 2016, the mine produced 204,542 ounces of gold and 58.5 million pounds of copper.

The company provided consolidated production guidance for the 2017. For the year, the company forecasts Centerra's 2017 gold production is expected to be between 715,000 to 795,000 ounces. Kumtor's production forecast is expected to be in the range of 455,000 ounces to 505,000 ounces with 30% of the production expected to be in the fourth quarter. At Mount Milligan, the company expects payable gold production to be in the range of 260,000 to 290,000 ounces with approximately 35% of the ounces expected to be produced in the fourth quarter. The company expects concentrate production from the Mount Milligan mine to be in the range of 125,000 to 135,000 dry tonnes for 2017. Payable copper production is expected to be in the range of 55 million pounds to 65 million pounds.

The company provided capital expenditure guidance for the year 2017. For the year, the company expects 2017 sustaining capital to be $96 million. 2017 growth capital to be $52 million.