Kumtor Production and Reserves

PRODUCTION

1997

1998

1999

2000

2001

2002

2003

2004

2005

Tonnes ore mined (000s)

5,017

5,349

8,054

6,518

5,606

5,141

4,634

3,303

6,135

Tonnes ore milled (000s)

4,023

5,254

5,298

5,498

5,470

5,611

5,631

5,654

5,649

Mill feed grade 
(grams/tonne)

5.55

4.77

4.49

4.65

5.15

3.71

4.54

4.4

3.4

Recovery (%) 

73.3

78.5

79.4

81.5

83.1

78.1

82.6

82.1

81.2

Ounces of gold poured (1) (000s)

502

646

610

670

753

529

678

657

501

UNIT PRODUCTION CASH COSTS (2) 

 

 

per tonne milled - $

24.00

22.20

20.60

18.60

19.50

20.40

24.00

23.24

24.40

per ounce - $ 

193

181

179

153

141

216

191

200

274

Table Continued Below

PRODUCTION

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Tonnes ore mined (000s)

3,887

5,182

4,967

4,464

5,765

6,020

4,955

7,289

8,640

6,583

Tonnes ore milled (000s)

5,696

5,545

5,577

5,780

5,594

5,815

4,756

5.596

5,840

5,729

Mill feed grade 
(grams/tonne)

2.3

2.4

3.9

3.7

4.0

3.8

2.8

4.3

3.9

3.6

Recovery (%) 

73.0

72.7

79.7

76.7

79.5

80.8

75.6

79.3

78.0

78.8

Ounces of gold poured (1) (000s)

304

301

556

525

568

583

315

600

567

521

UNIT PRODUCTION CASH COSTS (2) 

 

 

 

per tonne milled – $

28.99

29.27

43.64

41.80

41.5(3)

48.38

35.28

37.11

34.23

29.59

per ounce – $

544

540

438

460

409(3)

482

532

357

356

326

(1) Centerra’s equity interest is 100%
(2) Unit production cash cost per ounce is a non-GAAP measure, Starting in 2013 unit cost measures are adjusted operating costs on a sales basis, which is a non-GAAP measure.  As a result of Kumtor’s restated Investment Agreement signed in 2009, operating costs and total cash costs per ounce measures for 2009, 2008 and 2007 have been restated to exclude operating and revenue-based taxes.
(3) Restated to exclude community investments costs.

 

RESERVES AND RESOURCES

 

The following table shows Kumtor’s estimated gold reserves and resources at December 31, 2017:

 

 

TONNES
(000s) 

GRADE
Grams/tonne

CONTAINED GOLD
Ounces (000s) 

Proven

10,278

1.5

490

Probable

46,849

2.7

3,999

Total reserves 

57,128

2.4

4,489

Measured 

16,568

3.0

1,616

Indicated

12,062

2.6

1,007

Total measured and indicated resources

28,631

2.8

2,623

 

 

 

 

Inferred resources – Open Pit

2,798

1.6

141

Inferred resources - Underground

14,477

7.3

3,409