Carlyle(US:CG) Globenewswire·2025-09-11 21:00Core Viewpoint - Centerra Gold Inc. announced a Pre-Feasibility Study (PFS) for its Mount Milligan mine, confirming a life of mine (LOM) extension to 2045, driven by strategic investments and exploration efforts [2][3]. Production and Economics - The PFS indicates a 10-year LOM extension, with average annual production from 2026 to 2042 expected to be approximately 150,000 ounces of gold and 69 million pounds of copper [6][8]. - Total gold production over the mine life is projected at 2.791 million ounces, while total copper production is estimated at 1.282 billion pounds [5][6]. - The after-tax NPV (5%) is approximately $1.5 billion based on long-term price assumptions of $2,600 per ounce of gold and $4.30 per pound of copper, increasing to about $2.1 billion at spot prices of $3,500 per ounce of gold and $4.50 per pound of copper [6][45]. Capital Expenditures - Total capital expenditures over the LOM are estimated at $925 million, with non-sustaining capital expenditures of $186 million planned, primarily for a second tailings storage facility (TSF) and process plant upgrades [5][21]. - Key investments include $114 million for the second TSF, $36 million for process plant upgrades, and $28 million for fleet additions [21][24]. Mineral Reserves and Resources - An updated proven and probable mineral reserve totals 483.2 million tonnes, with an average grade of 0.28 grams per tonne gold and 0.16% copper, containing 4.4 million ounces of gold and 1.7 billion pounds of copper [27][29]. - This represents a 56% increase in gold reserves and a 52% increase in copper reserves compared to the end of 2024, driven by resource conversion and infill drilling [6][27]. Exploration Potential - Recent drilling confirms mineralization continues to the west of the current resource pit, with ongoing exploration aimed at expanding mineral resources and potentially extending mine life beyond the updated plan [3][32]. - The company plans to continue drilling to upgrade resources both near surface and at depth, focusing on areas to the west and southwest of the Mount Milligan reserve pit [41]. Permitting and Community Relations - Mount Milligan has been designated as a provincial priority project by the British Columbia government, which supports a more streamlined permitting process [42]. - The extended LOM is expected to provide consistent employment for over 1,000 workers and increase business opportunities for First Nations and surrounding communities [44].