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According to the KS-13 mine plan, 2013 is expected to be the last year with a significant back-end loaded production profile as the mine continues to build stockpiles, which will allow for more consistent production on a quarterly basis going forward.
At the Boroo mine, gold production is forecast to be approximately 55,000 to 60,000 ounces, which includes about 24,000 ounces from heap leach and 36,000 ounces from processing mill stockpiles. The Boroo mill is expected to process ore stockpiles during the year with an average grade of 0.82 g/t. The 2013 forecast assumes no mining activities at Boroo and Gatsuurt, and no gold production from Gatsuurt.
All-in Unit CostsCenterra's 2013 all-in unit production costs per ounce are forecast asfollows:---------------------------------------------------------------------------- Kumtor Boroo Consolidated---------------------------------------------------------------------------- ($ per ounce ($ per ounce ($ per ounce produced) produced) produced)---------------------------------------------------------------------------- Cash operating cost(1) $ 342 - 373 $1,055 - 1,151 $ 406 - 443---------------------------------------------------------------------------- Capitalized stripping costs - cash 354 - 386 0 322 - 351---------------------------------------------------------------------------- Total operating and stripping cost $ 696 - 759 $1,055 - 1,151 $ 728 - 794---------------------------------------------------------------------------- Sustaining capital 105 - 115 170 - 185 113 - 124---------------------------------------------------------------------------- Growth capital 52 - 57 0 49 - 53---------------------------------------------------------------------------- Total operating cost including capital $ 853 - 931 $1,225 - 1,336 $ 890 - 971-------------------------------------------------------------------------------------------------------------------------------------------------------- Other cost(2) 0 0 177 - 193---------------------------------------------------------------------------- All-in cost(3) $ 853 - 931 $1,225 - 1,336 $1,067 - 1,164-------------------------------------------------------------------------------------------------------------------------------------------------------- Revenue-based tax and income tax 234 - 255 130 - 142 224 - 245-------------------------------------------------------------------------------------------------------------------------------------------------------- All-in cost including taxes(4) $1,087 - 1,186 $1,355 - 1,478 $1,291 - 1,409----------------------------------------------------------------------------1. Cash operating cost per ounce produced is a non-GAAP measure and includes mine operating costs such as mining, processing, regional office administration, royalties and production taxes (except at Kumtor where revenue-based taxes are excluded), but excludes amortization, reclamation costs, financing costs, capital development, community investments, exploration and corporate general and administration expenses.2. Other cost per ounce produced is a non-GAAP measure and includes corporate general and administrative expenses, global exploration expenses, and community investments.3. All-in cost per ounce produced is a non-GAAP measure and includes cash operating cost, sustaining and growth capital, corporate general and administrative expenses, global exploration expenses, and community investments, excludes revenue-based taxes at Kumtor and income taxes.4. All-in cost per ounce produced including taxes is a non-GAAP measure and includes all-in cash cost and revenue-based taxes at Kumtor and income taxes.
