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 and Other Financial Measures" disclosure at the end of this news release for a description of these measures. TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX:CG) (NYSE:CGAU) announces preliminary production results for the fourth quarter and full year ended De ...

This news release contains forward-looking information that is subject to risk factors and assumptions as set out in the Cautionary Note Regarding Forward-Looking Information below. All figures are in United States dollars unless otherwise stated. TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX:CG) (NYSE:CGAU) announces its 2023 year-end estimates for mineral reserves and mineral resources. Proven and probable gold mineral reserves were 3.6 million ounces and ...

TORONTO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX:CG) (NYSE:CGAU) announces that Ryan Snyder will be promoted to Executive Vice President and Chief Financial Officer ("CFO"), effective April 8, 2024. Mr. Snyder will succeed Darren Millman, who is leaving to pursue another opportunity in the mining industry in Australia. Mr. Snyder is currently Centerra's Vice President, Finance. He joined Centerra in May 2022 and brings over 15 years of experience in financial ...

The price trend for Centerra Gold Inc. (CGAU) has been bearish lately and the stock has lost 5.3% over the past two weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only facto ...

BUILDING A STRONG PLATFORM FOR FUTURE GROWTH Caution Regarding Forward Looking Information Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward- looking information. Factors and assumption ...

Financial Data and Key Metrics Changes - Centerra Gold reported net earnings of $61 million or $0.28 per share for Q3 2023, with adjusted net earnings of $44 million or $0.20 per share after accounting for one-time items [10][11] - The company ended Q3 with a cash balance of $492 million, an increase of $90 million during the quarter, and total liquidity of $890 million [40] - Gold production costs were $1,050 per ounce, and all-in sustaining costs were $1,150 per ounce, representing a 16% and 28% decrease from the previous quarter, respectively [39] Business Line Data and Key Metrics Changes - Mount Milligan produced approximately 39,000 ounces of gold and 15 million pounds of copper in Q3, with gold production costs now expected to be between $1,050 and $1,100 per ounce for the full year [66] - Oksut exceeded expectations with over 86,000 ounces of gold produced in Q3, and full-year production guidance has been increased to 190,000 to 200,000 ounces [49][67] - The Molybdenum Business Unit sold approximately 2.7 million pounds of molybdenum at an average price of $24.08 per pound, generating $68 million in revenue [51] Market Data and Key Metrics Changes - The average realized price for gold was $1,741 per ounce, and for copper, it was $2.99 per pound, reflecting the existing stream arrangements for Mount Milligan [69] - Cash provided by operating activities was $167 million in Q3, with free cash flow of $144 million, driven by strong performance at Oksut [70] Company Strategy and Development Direction - The company is focused on funding capital returns to shareholders, investing in internal growth projects, and evaluating external growth opportunities while maintaining a significant cash balance [45] - A comprehensive asset optimization review has been launched to improve safety, productivity, and cost efficiencies, expected to be completed in 2024 [48] - The company plans to continue operational and technical improvements at Mount Milligan to unlock its full potential, with expectations for higher gold production in 2024 [63] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting to generate robust free cash flow in Q4 and further increase cash balances [13] - The company noted that recoveries for gold and copper are expected to be similar to those achieved in 2023, with ongoing metallurgical reviews aimed at increasing recoveries [47] - Management highlighted the successful ramp-up at Oksut and the positive cash generation potential in the upcoming quarters [29] Other Important Information - Centerra published its 2022 annual ESG report in Q3, emphasizing its commitment to sustainable and responsible mining practices [5] - The company congratulated the Mount Milligan team for receiving the BC Mine Reclamation Award for Outstanding Reclamation Achievement in 2023 [8] Q&A Session Summary Question: Can you provide insights on Mount Milligan for 2024? - Management indicated that recoveries will be similar to 2023, with expectations for higher gold production due to feeding higher-grade gold [17][18] Question: What is the working capital adjustment for Oksut in Q4? - Management noted that October was a strong month and that they are on track, with high lead solution grades expected to decrease as planned [23][24] Question: What is the outlook for the Molybdenum Business Unit? - Management stated that they do not expect significant cash outlay in Q4 and are hopeful for a return of working capital due to molybdenum price fluctuations [83]

Financial Data and Key Metrics Changes - The company reported a net loss from continuing operations of $40 million, equating to a loss of $0.18 per share, with an adjusted net loss of $42 million or a loss of $0.20 per share [36][38] - Net revenue for the quarter was $185 million, with gold sales of 48,155 ounces and copper sales of 12.8 million pounds, reflecting a 22% decrease in gold sales compared to production due to delays from Turkish national holidays [38][39] - Consolidated all-in sustaining costs on a byproduct basis for the quarter were $1,711 per ounce, with full-year guidance expected to be in the range of $1,000 to $1,050 per ounce [40] Business Line Data and Key Metrics Changes - Mount Milligan produced over 40,000 ounces of gold in Q2 2023, a 24% increase from the previous quarter, and produced 13.8 million pounds of copper [23] - Öksüt produced just over 20,000 ounces of gold in Q2 2023, with full-year production guidance set between 180,000 and 190,000 ounces [31][34] - The Molybdenum Business Unit sold approximately three million pounds of molybdenum, generating revenue of $76 million [40] Market Data and Key Metrics Changes - The average realized price for gold was $1,532 per ounce, while copper was $2.56 per pound [39] - The Turkish government increased the corporate income tax rate from 20% to 25%, retroactive to January 1, 2023, which is expected to result in an incremental $0.9 million in cash taxes for the first half of 2023 [43] Company Strategy and Development Direction - The company is focused on developing a comprehensive value-maximizing strategic plan, including evaluating the Molybdenum Business Unit and assessing opportunities for growth in gold production [15][16] - A strategic pivot at the Goldfield project will focus on oxide and transition material to achieve a lower capital expenditure flow sheet and maximize returns [17][19] - The company aims to optimize shareholder value through a capital allocation framework that includes returning capital to shareholders, investing in internal projects, and exploring external M&A opportunities [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the opportunities ahead, particularly following the approval of an Environmental Impact Assessment for the Öksüt mine, which is expected to contribute significantly to production in the second half of the year [13][14] - The company anticipates elevated production levels well into the first half of 2024, transitioning to a normal state by 2025 [5][100] - Management acknowledged inflationary pressures but noted that inflation has abated to more normal levels compared to the significant inflation experienced in 2021 and early 2022 [60] Other Important Information - The company achieved full conformance with the World Gold Council's responsible gold mining principles during its year three assessment, reflecting its commitment to sustainable mining practices [21] - Capital expenditures in Q2 were $23 million, with full-year guidance expected to be between $90 million and $115 million [42] Q&A Session Summary Question: Discussion on organic vs inorganic growth opportunities - Management indicated a focus on evaluating current assets for value and is open to M&A opportunities that align with their skill set [54][55] Question: Cost increases and inflationary pressures - Management confirmed that the increase in all-in sustaining costs is primarily due to lower gold production and mine sequencing issues [57][59] Question: Strategic direction regarding non-producing assets - Management reaffirmed the company's commitment to remain primarily a gold producer while exploring value in base metals and molybdenum [65][66] Question: Update on Goldfield project and exploration potential - Management highlighted the focus on oxide material and the potential for additional mineralization, leading to an increased exploration budget [75][77] Question: Molybdenum business strategy and potential sale - Management noted strong fundamentals for molybdenum and plans to demonstrate value before considering any sale or M&A opportunities [79][81]

Mount Milligan Öksüt Goldfield n a first Caution Regarding Forward Looking Information Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward- looking information. Factors and assumptions th ...

Centerra Gold Inc. (NYSE:CGAU) Q1 2023 Earnings Conference Call May 15, 2023 11:00 AM ET Company Participants Toby Caron - Treasurer and Director, Investor Relations Michael Parrett - Chair and Director Paul Tomory - President and Chief Executive Officer Paul Wright - Director Darren Millman - Chief Financial Officer Conference Call Participants Mike Parkin - National Bank Anita Soni - CIBC Markets Operator Greetings and welcome to the Q1 2023 Results Conference Call. [Operator Instructions] As a reminder t ...

NEWS RELEASE Centerra Gold Reports First Quarter Results 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 and Other Financial Measures" disclosure at the end of this news release for a description of these measures. Toronto, Canada, May 15, 2023: Centerra Gold Inc. ("Centerra" or the "Company") (TSX: CG and NYSE: CGAU) today reported its first quarter 2023 ...