Centerra Gold posts fourth-quarter loss on impairment charge

Thu Feb 19, 2015 9:44pm EST
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Feb 19 (Reuters) - Centerra Gold Inc reported a loss for the fourth quarter as the miner took a goodwill impairment charge due to a fall in reserves and resources at its Kumtor mine.

The Toronto-based company reported a net loss of $11.3 million, or 5 cents per share, compared with a profit of $106.6 million, or 44 cents, a year earlier.

The loss includes a non-cash impairment charge of $111 million, or 47 cents per share, for goodwill related to its Kyrgyz cash generating unit (CGU), Centerra said. (Reporting by Nicole Mordant in Vancouver and Supriya Kurane in Bengaluru; Editing by Gopakumar Warrier)