Core Viewpoint - Centerra Gold Inc. reported strong operational and financial results for the second quarter of 2025, driven by high commodity prices, with significant cash flow and strategic advancements in project development [2][3]. Operational Highlights - Consolidated gold production in Q2 2025 was 63,311 ounces, with 35,058 ounces from Mount Milligan and 28,253 ounces from Öksüt [6][21]. - Copper production for the quarter was 12.4 million pounds [6]. - The company updated its 2025 gold production guidance for Mount Milligan to 145,000 to 165,000 ounces, down from 165,000 to 185,000 ounces due to lower grade zones encountered during mining [21][22]. Financial Highlights - Cash flow from operations before working capital and taxes was $98 million, an increase of 22% from the previous quarter [3][8]. - Net earnings for Q2 2025 were $68.6 million, or $0.33 per share, representing an 82% increase compared to the same quarter last year [8][10]. - The average realized gold price was $2,793 per ounce, a 33% increase year-over-year [10]. Strategic Growth Initiatives - The Goldfield project is advancing with an after-tax NPV5% of $245 million and an IRR of 30%, with first production expected by the end of 2028 [3][8]. - Centerra has approved up to $75 million for share repurchases in 2025, reflecting confidence in long-term business value [3][8]. - The company is progressing with a Pre-Feasibility Study for Mount Milligan, aiming to extend its mine life beyond 2036 [25]. Cost Management - Consolidated gold production costs in Q2 2025 were $1,308 per ounce, with all-in sustaining costs (AISC) on a by-product basis at $1,652 per ounce [6][10]. - The company revised its 2025 gold production costs guidance for Mount Milligan to between $1,350 and $1,450 per ounce, up from previous estimates [22]. Capital Expenditures - Total capital expenditures in Q2 2025 were $53.9 million, with sustaining capital expenditures at $25.8 million [6][10]. - Non-sustaining capital expenditures were $28.1 million, primarily related to the restart of operations at Thompson Creek [6][10].

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].