Centerra Gold Announces TSX Acceptance of Renewed Normal Course Issuer Bid

NCIB Details - Centerra Gold Inc has renewed its normal course issuer bid (NCIB) to purchase up to 18,800,929 common shares, representing approximately 8.9% of its total issued and outstanding common shares or 10% of the public float [1] - The NCIB will be active from November 7, 2024, to November 6, 2025, with daily purchases limited to 213,230 common shares, excluding block purchase exemptions [2] - The company is not obligated to acquire any common shares and may suspend or discontinue purchases at any time depending on market conditions [2] Previous NCIB Performance - Under the previous NCIB, Centerra repurchased 5,799,800 common shares at a volume-weighted average price of $8.74 per share [2] - The previous NCIB authorized the purchase of up to 18,293,896 common shares and expires on November 6, 2024 [2] Automatic Share Purchase Plan - Centerra plans to establish an automatic share purchase plan to facilitate share repurchases during regulatory black-out periods or self-imposed restrictions [3] - The company may instruct its designated broker to make purchases based on predefined parameters during these periods [3] Rationale for NCIB - Centerra believes its common shares are undervalued relative to its assets and future prospects [4] - The NCIB provides a flexible tool to deploy cash balances for share repurchases while maintaining a strong balance sheet [4] Company Overview - Centerra Gold Inc is a Canadian-based gold mining company operating in North America, Türkiye, and other global markets [5] - The company operates two mines: Mount Milligan Mine in British Columbia, Canada, and Öksüt Mine in Türkiye [5] - Centerra also owns the Goldfield District Project in Nevada, the Kemess Project in British Columbia, and the Molybdenum Business Unit in the US and Canada [5] - The company's shares trade on the TSX under the symbol CG and on the NYSE under the symbol CGAU [5]