TSX CG NYSE CGAU BUILDING A STRONG PLATFORM FOR FUTURE GROWTH Third Quarter 2024 Results Conference Call & Webcast NOVEMBER 1, 2024 Caution Regarding Forward Looking Information This document contains or incorporates by reference "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur a ...

Financial Data and Key Metrics Changes - In Q3 2024, the company produced over 93,000 ounces of gold and 13.7 million pounds of copper, with cash and cash equivalents growing to $604 million despite spending approximately $32 million on the restart of operations at Thompson Creek [6][35] - Adjusted net earnings for Q3 were $39 million or $0.19 per share, with sales of 96,736 ounces of gold and 14.2 million pounds of copper, representing increases of 16% and 21% respectively compared to the previous quarter [29][30] - Consolidated all-in sustaining costs on a by-product basis were $1,302 per ounce in Q3, with full-year consolidated cost guidance remaining unchanged [30][31] Business Line Data and Key Metrics Changes - Mount Milligan produced almost 43,000 ounces of payable gold and 13.7 million pounds of payable copper in Q3, with gold and copper sales up 46% and 21% quarter-over-quarter [21] - Öksüt's Q3 production was over 50,000 ounces, consistent with the previous quarter, but Q4 production is expected to come from lower grade areas, contributing only 15% to 20% of annual production [25][26] - The molybdenum business unit sold approximately 2.4 million pounds of molybdenum at an average realized price of $23.27 per pound [30] Market Data and Key Metrics Changes - The average realized price for gold was $2,206 per ounce and for copper was $3.37 per pound in Q3, reflecting the existing streaming arrangements at Mount Milligan [29] - The company expects to maintain a strong cash balance of $604 million, providing total liquidity of $1 billion to execute its strategic plan [35] Company Strategy and Development Direction - The company is focused on maximizing the value of its assets, with significant progress on the strategic plan, including the restart of operations at Thompson Creek and the evaluation of Mount Milligan's long-term potential [7][14] - The restart of Thompson Creek is expected to produce an after-tax NPV of $472 million and a 22% IRR, with capital investment of $397 million planned over the next three years [10][13] - The company is also pursuing organic growth projects, including Goldfield and Kemess, while continuing to optimize operations at Mount Milligan [14][15] Management's Comments on Operating Environment and Future Outlook - Management noted that the company is on track to meet its consolidated production and cost guidance for the year, benefiting from margin expansion in an elevated metal price environment [6][35] - The management team expressed optimism about the future, highlighting ongoing efforts in ESG initiatives and community engagement [16][19] Other Important Information - The company is conducting a preliminary economic assessment for Mount Milligan, expected to be completed by the end of the first half of 2025 [8] - ESG achievements include collaboration with First Nation partners to enhance employment opportunities and support for women entrepreneurs [17][19] Q&A Session Summary Question: Recovery at Mount Milligan - Management acknowledged that oxidized material impacted gold recovery in Q3, but expects improvements in Q4 as they move deeper into the deposit [40] Question: Cost Increases - The increase in mining costs was attributed to timing on equipment refurbishment and some increases in consumables, but overall productivity indicators remain on track [46] Question: Inventory Levels - The increase in gold inventory at Mount Milligan is related to shipment timing, and management expects levels to normalize in Q4 [39] Question: Optimization at Mount Milligan - The company is implementing a real-time optimization system called Float IQ to improve gold recoveries, aiming for mid-60% recovery rates [50][52] Question: Inflation in Turkey - Management noted that inflation in Turkey is elevated, and while costs may increase, they expect to manage within current guidance for 2024 [65] Question: Öksüt Grades - The grades expected in Q4 will likely continue into 2025, reflecting the overall production profile outlined in previous communications [67] Question: Royalty Pressure - There has been no indication of pressure from the government to revisit royalty structures despite higher metal prices [71]

Management's Discussion and Analysis For the Three and Nine Months Ended September 30, 2024 and 2023 This Management's Discussion and Analysis ("MD&A") has been prepared as of October 31, 2024 and is intended to provide a review of the financial position and results of operations of Centerra Gold Inc. ("Centerra" or the "Company") for the three and nine months ended September 30, 2024 in comparison with the corresponding period ended September 30, 2023. This discussion should be read in conjunction with the ...

Core Viewpoint - Centerra Gold Inc. reported strong operational performance in Q3 2024, achieving significant production and cash flow growth while maintaining cost guidance for the year [2][4][5]. Operations - Consolidated gold production reached 93,712 ounces in Q3 2024, with contributions of 42,993 ounces from Mount Milligan and 50,719 ounces from Öksüt [4]. - Copper production for the quarter was 13.7 million pounds, with year-to-date totals of 294,880 ounces of gold and 41.6 million pounds of copper [4]. - The company maintained its full-year production guidance of 370,000 to 410,000 ounces of gold and 55 to 65 million pounds of copper [4][10]. Financial Performance - Q3 2024 net earnings were $28.8 million, or $0.14 per share, with adjusted net earnings of $38.6 million, or $0.19 per share [5]. - Cash provided by operating activities was $103.6 million, and free cash flow was $37.4 million for the quarter [5]. - Total liquidity as of September 30, 2024, was $1,004.3 million, including $604.3 million in cash [5]. Capital Expenditures - Total capital expenditures in Q3 2024 were $60.5 million, with sustaining capital expenditures of $35.3 million and non-sustaining expenditures of $25.2 million [7][22]. - The company plans to continue investing in its operations, particularly at Mount Milligan and Öksüt, to enhance production capabilities [17][22]. Strategic Developments - Centerra announced a strategic plan for its Molybdenum Business Unit, including the restart of operations at Thompson Creek and a ramp-up plan for Langeloth [6][24]. - The company is progressing on a preliminary economic assessment for Mount Milligan, expected to be completed by mid-2025, which aims to unlock additional value [3][19]. Shareholder Returns - The company increased share buybacks to $12 million in Q3 2024 and declared a quarterly dividend of C$0.07 per common share [5][6]. - Centerra has returned $65 million to shareholders in the first nine months of 2024, including $32 million in share buybacks and $33 million in dividends [6]. Future Outlook - The company expects to publish an initial resource estimate at Goldfield in early 2025, alongside its year-end reserve and resource update [3]. - Full-year cost guidance remains unchanged, with gold production costs expected to be between $800 to $900 per ounce and all-in sustaining costs between $1,075 to $1,175 per ounce [4][10].

Group 1 - Centerra Gold has been underperforming compared to other gold miners in recent months, which may deter potential investors [1] - Despite its recent struggles, there are positive aspects about Centerra Gold that could appeal to investors [1] Group 2 - The external environment surrounding the gold mining industry is also a factor to consider when evaluating Centerra Gold [1]

Centerra Gold Inc. (CGAU) closed the last trading session at $6.89, gaining 4.2% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $9.11 indicates a 32.2% upside potential. The average comprises 11 short-term price targets ranging from a low of $7.50 to a high of $9.72, with a standard deviation of $0.63. While the lowest estimate indicates an increase of 8.9% from the current price ...

TORONTO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX: CG) (NYSE: CGAU) will release its third quarter 2024 operating and financial results after the market closes on Thursday, October 31, 2024. The Company will host a conference call and webcast to discuss the results on Friday, November 1, 2024, at 9:00 a.m. Eastern Time. Details for the conference call and webcast are included below. Webcast Participants can access the webcast at the following webcast link. An a ...

Integrated value of Thompson Creek and Langeloth is expected to have after-tax NPV8% of $472M and IRR of 22% Langeloth, at full capacity and integrated with Thompson Creek, is expected to generate approximately $45M earnings from operations and $50M EBITDANG per year All figures are in United States dollars. All production figures reflect payable metal quantities and are on a 100% basis, unless otherwise stated. For references denoted with NG, refer to the "Non-GAAP Financial Measures" disclosure at the end ...

TORONTO, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX: CG) (NYSE: CGAU) will release the strategic plan for its US molybdenum operations, including results from the Thompson Creek feasibility study and Langeloth Metallurgical Facility commercial optimization plan, after the market closes on Thursday, September 12, 2024. The Company will host a conference call and webcast to discuss the release on Friday, September 13, 2024, at 9:00 a.m. Eastern Time. Details for t ...

Investors might want to bet on Centerra Gold Inc. (CGAU) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a chang ...