Core Viewpoint - Centerra Gold Inc. has 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 [1][2]. Group 1: LOM Extension and Production Metrics - The PFS indicates a LOM extension of approximately 10 years, with average annual production from 2026 to 2042 expected to be around 150,000 ounces of gold and 69 million pounds of copper [6][8]. - Total gold production over the mine life is projected to be 2,791,000 ounces, with total copper production estimated at 1,282 million pounds [4][6]. - The average gold grade is expected to be 0.28 grams per tonne (g/t) and the average copper grade is projected at 0.16% [4][28]. Group 2: Capital Expenditures and Economic Outlook - 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 and process plant upgrades [4][21]. - The after-tax Net Present Value (NPV) at a 5% discount rate is approximately $1.5 billion based on long-term commodity price assumptions, increasing to about $2.1 billion at spot prices [4][50]. Group 3: Mineral Reserves and Exploration Potential - An updated mineral reserve estimate shows a total of 483.2 million tonnes, containing 4.4 million ounces of gold and 1.7 billion pounds of copper, representing a 56% increase in gold reserves and a 52% increase in copper reserves compared to the end of 2024 [6][28]. - Ongoing exploration efforts have confirmed mineralization extending to the west of the current resource pit, indicating potential for further resource expansion [2][35]. Group 4: Environmental and Operational Improvements - The mine will utilize in-pit dumping of potentially acid-generating waste to reduce environmental impact and optimize tailings storage capacity [10][11]. - Operational improvements are expected to increase mining rates to 200,000 tonnes per day at certain points during the LOM, with a modest fleet expansion required [11][12]. Group 5: Community and Regulatory Aspects - Mount Milligan has been designated as a provincial priority project by the British Columbia government, which supports a more streamlined permitting process [47][48]. - The extended LOM is anticipated to provide consistent employment for over 1,000 workers and enhance business opportunities for First Nations and surrounding communities [49].

Core Viewpoint - Seabridge Gold Inc. is facing a legal challenge from Tudor Gold Corp. regarding the Chief Gold Commissioner's decision that supports Seabridge's rights to use land for the KSM Project's Mitchell Treaty Tunnels, which Tudor is appealing in the British Columbia Supreme Court [1][2]. Group 1: Legal Proceedings - Tudor Gold Corp. has filed a Notice of Appeal against the Chief Gold Commissioner of British Columbia and Seabridge, contesting the rejection of its application to rescind the legal mechanism prioritizing Seabridge's rights [1]. - The Chief Gold Commissioner previously ruled that the conditional mineral reserve (CMR) applies to Tudor, which Tudor is now disputing in court [2]. - Seabridge's Chair and CEO expressed confidence that the court will dismiss Tudor's appeal, maintaining that the CGC's decision was correct [2]. Group 2: Company Background - Seabridge Gold holds a 100% interest in several North American gold projects, with its principal assets located in Northwest British Columbia's "Golden Triangle" [3]. - The KSM project is one of Seabridge's key assets, alongside other projects in Canada, including Courageous Lake, Snowstorm, and 3 Aces [3].