Financial Performance - Centerra's revenue for the three months ended March 31, 2025, increased by 15% compared to the same period in 2024, driven by higher gold and copper prices[2] - Revenue for Q1 2025 was $299.5 million, a decrease of 2% from $305.8 million in Q1 2024[16] - Net earnings fell to $30.5 million in Q1 2025, down 54% from $66.4 million in Q1 2024[18] - Adjusted net earnings decreased to $26.4 million in Q1 2025, a 16% decline from $31.3 million in Q1 2024[19] - Free cash flow significantly declined to $10.0 million in Q1 2025, down 88% from $81.2 million in Q1 2024[23] - The company reported a net loss of $1.0 million in Q1 2025, an improvement from a net loss of $3.8 million in Q1 2024[169] Production and Operations - The Mount Milligan Mine produced 50,000 ounces of gold and 15 million pounds of copper in Q1 2025, representing a 10% increase in gold production year-over-year[2] - The Öksüt Mine achieved a production of 30,000 ounces of gold in Q1 2025, maintaining consistent output levels compared to Q1 2024[2] - Gold production dropped by 47% to 59,379 ounces in Q1 2025, while gold sold decreased by 41% to 61,132 ounces[16] - Copper production at the Mount Milligan Mine was 11.6 million pounds in Q1 2025, compared to 14.3 million pounds in Q1 2024, primarily due to lower head grades[84] - Gold production in Q1 2025 was 59,379 ounces, down from 111,341 ounces in Q1 2024, with the decrease attributed to lower processing and recovery rates[83] Cost Management - Gold production costs rose to $1,271 per ounce in Q1 2025 from $746 per ounce in Q1 2024, mainly due to lower ounces sold and higher cost allocations[87] - Consolidated all-in sustaining costs on a by-product basis were $1,491 per ounce in Q1 2025, with full year guidance of $1,400 to $1,500 per ounce[53] - The average realized gold price increased by 39% to $2,554 per ounce in Q1 2025, while the average realized copper price rose by 22% to $3.80 per pound[16] - Cost of sales increased to $223.0 million in Q1 2025 from $207.2 million in Q1 2024, driven by higher production costs at the Langeloth Facility[86] Capital Expenditures and Investments - Centerra plans to invest $50 million in exploration activities across its properties in Canada, the USA, and Türkiye in 2025[4] - For the full year 2025, total capital expenditures are planned to be in the range of $105 to $130 million, unchanged from previous guidance[54] - The Mount Milligan Mine's additions to PP&E in Q1 2025 were $23.7 million, with total capital expenditures of $12.3 million[55] - Additions to property, plant, and equipment surged to $32.3 million in Q1 2025, up from $0.4 million in Q1 2024, a 7975% increase[135] Cash Flow and Liquidity - Centerra's total cash and cash equivalents as of March 31, 2025, were reported at $150 million, providing a strong liquidity position for future investments[2] - As of March 31, 2025, the Company's total liquidity position was $1.0 billion, including a cash balance of $608.2 million[77] - The company repurchased approximately 2,465,926 common shares under its NCIB program for $14.9 million, contributing to a decrease in cash to $608.2 million from $624.7 million[96] Future Outlook and Guidance - Centerra expects to generate cash flow of approximately $100 million from operations in 2025, with a focus on reducing costs by 5% through operational efficiencies[4] - The company is targeting a production guidance of 200,000 ounces of gold and 60 million pounds of copper for the full year 2025[4] - The company's 2025 gold production guidance is between 270,000 and 310,000 ounces, with Q1 production of 59,379 ounces[41] Exploration and Development Projects - The company is advancing the Kemess Project with a pre-feasibility study expected to be completed by Q4 2025, which may lead to a potential increase in mineral resources[4] - The Kemess Project has an updated resource estimate of 2.7 million ounces of gold and 971 million pounds of copper, with a PEA expected by the end of 2025[26] - The Thompson Creek Mine restart involves an initial capital investment of approximately $397 million, with 14% completion status achieved as of Q1 2025[31][32] Molybdenum Business Unit - Centerra's Molybdenum Business Unit is expected to restart operations at the Thompson Creek Mine, aiming for a production of 2 million pounds of molybdenum in 2025[5] - Molybdenum revenue increased by 52% to $91.6 million in Q1 2025 compared to $60.3 million in Q1 2024[132] - Total revenue for the Molybdenum business unit rose to $94.7 million in Q1 2025, a 49% increase from $63.4 million in Q1 2024[132]

Core Viewpoint - Centerra Gold Inc. reported its first quarter 2025 operating and financial results, highlighting positive free cash flow, unchanged production guidance, and ongoing project advancements, particularly at the Kemess project [2][3]. Operations - Consolidated gold production for Q1 2025 was 59,379 ounces, with 35,880 ounces from Mount Milligan and 23,499 ounces from Öksüt [6][11]. - Copper production in the quarter was 11.6 million pounds [6]. - Mount Milligan produced 35,880 ounces of gold and 11.6 million pounds of copper, lower than planned due to lower gold grades [23]. - Öksüt produced 23,499 ounces of gold, also lower than planned due to lower grades and unfavorable weather conditions [27]. Financial - First quarter 2025 revenue was $299.5 million, a decrease of 2% from $305.8 million in Q1 2024 [9]. - Net earnings for Q1 2025 were $30.5 million, or $0.15 per share, down 54% from $66.4 million in Q1 2024 [11]. - Cash provided by operating activities was $58.6 million, with free cash flow of $10.0 million [11]. - The company maintained a strong cash position of $608 million, ensuring financial flexibility for ongoing projects [3][10]. Growth Initiatives - The company is advancing a Preliminary Economic Assessment on the Kemess project, expected to be completed by the end of 2025 [3]. - The updated mineral resource at Kemess includes 2.7 million ounces of indicated gold resources and 971 million pounds of indicated copper resources [8]. - Exploration guidance for Kemess has been doubled to between $10 million and $12 million for 2025, focusing on infill drilling and high-grade mineralization [3][8]. Capital Expenditures - Total capital expenditures in Q1 2025 were $46.9 million, with $68.1 million in additions to property, plant, and equipment [11]. - Non-sustaining capital expenditures were $25.8 million, primarily related to the restart of Thompson Creek [11][33]. Guidance - The company maintains its 2025 production guidance of 270,000 to 310,000 ounces of gold and 50 to 60 million pounds of copper [15][16]. - Gold production costs for Q1 2025 were $1,271 per ounce, with all-in sustaining costs of $1,491 per ounce [11][16].

Group 1 - The article introduces Centerra Gold (NYSE: CGAU) as the first metals producer added to a value portfolio, highlighting its operations in gold, copper, and molybdenum production and refining across Canada, the US, and Turkey [1] Group 2 - The author has a beneficial long position in CGAU shares, indicating a personal investment interest in the company [3]

LONGUEUIL, Québec, April 28, 2025 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce that it has entered into a subscription agreement with Centerra Gold Inc. (“Centerra”) (TSX: CG) (NYSE: CGAU) for a non-brokered private placement of 9,430,000 common shares of the Company at a price of $0.60 per share for gross proceeds of $5,658,000 (the “Offering”). Centerra will become a strategic investor in the Company, acquiring approximately 9.9% ...

ABOUT DRYDEN GOLD CORP. Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") announces that, further to the investor rights agreement dated December 17, 2024, (the "Centerra IRA") between the Company and Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) ("Centerra"), Centerra has issued to the Company notice of their intention to exercise their 'top-up right' as it relates to certain share issuances completed by the Company th ...

Core Viewpoint - Centerra Gold Inc. has filed its 2024 annual report with the U.S. Securities and Exchange Commission, which includes the annual information form, audited financial statements, and management's discussion and analysis [1][2] Group 1: Regulatory Filings - The 2024 annual information form, audited financial statements, and management's discussion and analysis have also been filed with Canadian securities regulatory authorities and are accessible through SEDAR+ [2] - The filings are available on the company's website, and hard copies of the annual audited financial statements can be requested by shareholders at no charge [2] Group 2: Company Overview - Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring, and acquiring gold and copper properties in North America, Türkiye, and other global markets [3] - The company operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye, and also owns the Kemess Project in British Columbia and the Goldfield Project in Nevada [3] - Centerra's shares are traded on the Toronto Stock Exchange under the symbol CG and on the New York Stock Exchange under the symbol CGAU [3]

Company Leadership Changes - Centerra Gold Inc. has appointed David Hendriks as Executive Vice President and Chief Operating Officer, effective April 15, 2025, following the departure of Paul Chawrun on March 31, 2025 [1][2] - Paul Tomory, President and CEO, acknowledged Paul Chawrun's significant contributions since joining in 2022, particularly in delivering safe operating results and leading the Mount Milligan site optimization program [2] Executive Profile - David Hendriks brings over 30 years of mining industry experience, having held leadership roles at Calibre Mining and Kinross Gold, and most recently served as Senior Vice President of Nicaraguan Operations at Calibre Mining [2] - Hendriks has a strong background in overseeing multi-site operations, driving production growth, and advancing sustainability initiatives [2] Company Overview - Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring, and acquiring gold and copper properties in North America, Türkiye, and other global markets [3] - The company operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye, and also owns the Kemess Project in British Columbia and the Goldfield Project in Nevada [3]

Financial Data and Key Metrics Changes - In Q4 2024, Centerra Gold produced over 73,000 ounces of gold and 12.8 million pounds of copper, generating strong free cash flow and increasing cash balance to $625 million [9][10] - Adjusted net earnings for Q4 were $37 million or $0.17 per share, with consolidated all-in sustaining costs at $1,296 per ounce [32][33] - Full year 2024 all-in sustaining costs were $1,148 per ounce, in line with guidance [33] Business Line Data and Key Metrics Changes - Mount Milligan produced almost 38,000 ounces of payable gold and 12.8 million pounds of payable copper in Q4, with full year production below guidance due to lower grades [20][21] - Öksüt produced over 35,000 ounces in Q4 and over 200,000 ounces for the full year, with all-in sustaining costs at $1,327 per ounce in Q4 [26][27] - Thompson Creek's restart activities are on track, with detailed engineering work initiated and a target for first production in the second half of 2027 [30] Market Data and Key Metrics Changes - The average realized price for gold was $2,207 per ounce and for copper was $2.88 per pound in Q4 [32] - Molybdenum sales in Q4 were approximately 2.9 million pounds at an average realized price of $22.67 per pound [32] Company Strategy and Development Direction - The company is focused on maximizing asset value, particularly through Mount Milligan and Kemess, with plans for a pre-feasibility study for Mount Milligan [12][13] - Centerra is committed to responsible mining and sustainability initiatives, including greenhouse gas reduction strategies [17][18] - The company is exploring strategic options for Goldfield, which is currently on hold due to insufficient resource size [11][82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of Mount Milligan and Kemess, highlighting the potential for increased reserves and production [13][14] - The company remains disciplined in capital allocation, prioritizing investments in gold growth while maintaining dividends and share buybacks [52][36] - Management noted that the permitting process for critical mineral projects is being streamlined, which is encouraging for future operations [17] Other Important Information - Centerra's cash balance at the end of the year was $625 million, providing total liquidity of over $1 billion [37] - The company plans to spend $35 million to $45 million on exploration in 2025, focusing on both Brownfield and Greenfield programs [40] Q&A Session Summary Question: Future growth in gold and potential M&A - Management confirmed that gold remains the primary focus and they are looking to unlock value within existing assets before considering M&A opportunities [45][46] Question: Capital return strategy amid rising gold prices - Management stated they are committed to share buybacks and dividends while prioritizing capital allocation towards gold growth projects [50][52] Question: Gold recoveries at Mount Milligan - Management acknowledged lower recoveries in Q4 but indicated improvements are expected as they optimize mining strategies [54][56] Question: Impact of tariffs on Milligan costs - Management expressed confidence that tariffs would not significantly impact costs, as most suppliers are Canadian [60][62] Question: Reserve and resource update at Mount Milligan - Management explained that the increase in grade was due to tighter domain modeling, which resulted in lower ore amounts but higher grades [66][70] Question: Strategy for Goldfield and potential sale - Management indicated Goldfield is on hold for now, but they are open to strategic options such as a sale or joint venture [82] Question: Update on molybdenum operations - Management expressed confidence in the molybdenum business and indicated openness to strategic partnerships if they meet valuation requirements [86] Question: Potential for extending Öksüt's reserve life - Management noted limited exploration potential at Öksüt but acknowledged the possibility of residual leaching from stockpiled inventory [88] Question: Opportunities for additional ounces at Öksüt - Management clarified that while there are no significant opportunities for reclassifying waste as ore, they continuously evaluate operational efficiencies [96][97]

TSX CG NYSE CGAU STRONG PLATFORM BUILDING A FOR FUTURE GROWTH Fourth Quarter 2024 Results Conference Call & Webcast FEBRUARY 21, 2025 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 ...

Financial Performance - Revenue for 2024 increased to $1,214,503,000, up 10.9% from $1,094,897,000 in 2023[31] - Net earnings for 2024 were $80,394,000 compared to a net loss of $81,278,000 in 2023, marking a significant turnaround[31] - Earnings from mine operations rose to $378,048,000 in 2024, a 42.9% increase from $264,005,000 in 2023[31] - Total comprehensive income for 2024 was $61,748,000, compared to a loss of $70,504,000 in 2023[31] - Gold revenue increased to $764.9 million in 2024, up from $598.7 million in 2023, reflecting a significant growth of 27.8%[176] Assets and Liabilities - Centerra Gold Inc. reported total assets of $2,265,133,000 as of December 31, 2024, a decrease from $2,280,766,000 in 2023, reflecting a decline of approximately 0.7%[29] - Current liabilities decreased to $283,880,000 in 2024 from $297,437,000 in 2023, a reduction of about 4.5%[29] - The company’s property, plant, and equipment decreased to $1,101,536,000 in 2024 from $1,237,506,000 in 2023, a decline of approximately 11%[29] - The company’s total liabilities and shareholders' equity remained consistent at $2,265,133,000 in 2024, matching the total assets[29] - Total inventories decreased to $234.2 million in 2024 from $257.3 million in 2023, with significant reductions in gold in-circuit and ore on leach pads[162] Cash Flow and Investments - Cash and cash equivalents increased to $624,673,000 in 2024 from $612,941,000 in 2023, representing a growth of about 1.2%[29] - Cash provided by operating activities increased to $298,401,000 in 2024, compared to $245,597,000 in 2023, reflecting improved operational efficiency[32] - The company capitalized $174.8 million in additions to property, plant, and equipment (PP&E) for 2024, compared to $121.7 million in 2023[165] - The company repurchased 6,731,430 shares at a cost of $44,053,000 during 2024[33] - The company received bank interest income of $29.3 million in 2024, an increase from $18.4 million in 2023[201] Shareholder Returns - Dividends paid in 2024 amounted to $43,510,000, slightly down from $44,907,000 in 2023[32] - Basic earnings per share improved to $0.38 in 2024 from a loss of $0.37 in 2023, while diluted earnings per share rose to $0.35 from a loss of $0.38[190] - The company initiated an Automatic Share Purchase Plan with a maximum repurchase value of $7.6 million for the period ending February 25, 2025[188] Impairments and Provisions - The company incurred an impairment loss of $193,564,000 in 2024, significantly higher than the $34,101,000 recorded in 2023[31] - Provisions for reclamation are recognized at the time of environmental disturbance, with major costs related to tailings facilities and ongoing water treatment[79] - The reclamation recovery recognized for 2024 was $25.3 million, a significant improvement from a reclamation expense of $34.4 million in 2023[171] Agreements and Contracts - Centerra entered into an Additional Royal Gold Agreement on February 13, 2024, which involves increased cash payments for gold and copper delivered, impacting future revenue recognition[19] - The fair value of the financial asset from the Additional Royal Gold Agreement will be re-measured at each reporting date, with changes recorded as gains or losses in operating expenses[19] - The Company delivers 35% of gold ounces and 18.75% of copper produced to Royal Gold under the Mount Milligan Mine Streaming Agreement, with Royal Gold paying US$435 per ounce of gold delivered[101] Taxation and Deferred Tax - The Company recognized deferred tax assets for unused tax losses and tax credits, contingent on the likelihood of future taxable profits being available for utilization[115] - Total income tax expense for 2024 was $93,663, a marginal decrease from $94,912 in 2023, with current income tax expense increasing to $87,456 from $85,672[181] - The net deferred income tax assets increased to $41,733 in 2024 from $41,091 in 2023, indicating stable tax asset management[183] Stock Options and Equity - As of December 31, 2024, Centerra had 2,542,451 stock options outstanding with a weighted average exercise price of C$8.25, down from 2,930,958 options in 2023[194] - The company granted 737,202 stock options in 2024 at an average exercise price of C$7.01, compared to 564,499 options granted in 2023 at C$8.30[194] - Centerra's Performance Share Units (PSUs) increased to 1,311,423 units by the end of 2024, up from 1,164,075 units at the beginning of the year[196] Operational Efficiency - Other operating expenses significantly decreased to $2,421 in 2024 from $29,578 in 2023, primarily due to reduced selling and marketing costs[178] - Changes in working capital resulted in a total increase of $27.01 million in 2024, compared to $43.24 million in 2023[202] - The company reported a total finance cost of $14,664 in 2024, a slight decrease from $15,345 in 2023[180]