Centerra Gold Inc. - CGAU STOCK NEWS

Centerra Gold has received TSX approval for its renewed Normal Course Issuer Bid (NCIB) to purchase and cancel up to 18,800,929 common shares (8.9% of total shares) between November 7, 2024, and November 6, 2025. Daily purchases will be to 213,230 shares. Under the previous NCIB, which expires November 6, 2024, Centerra repurchased 5,799,800 shares at an average price of $8.74. The company plans to establish an automatic share purchase plan and believes current trading prices don't reflect the company's true value, assets, and prospects.

Centerra Gold has declared a quarterly dividend of C$0.07 per common share, totaling approximately C$14.8 million (US$11.0 million). The dividend will be paid on November 27, 2024, to shareholders of record as of November 13, 2024. This dividend qualifies as an eligible dividend for Canadian tax purposes. The company's Board of Directors determines dividend payments based on factors including operating results, cash flow, financial conditions, capital requirements, and general business conditions.

Centerra Gold reported Q3 2024 results with consolidated gold production of 93,712 ounces and copper production of 13.7 million pounds. The company achieved net earnings of $28.8 million ($0.14 per share) and generated $103.6 million in cash from operations. Gold sales were 96,736 ounces at an average realized price of $2,206 per ounce. The company maintained its full-year 2024 production guidance of 370,000-410,000 ounces of gold and 55-65 million pounds of copper. Centerra ended Q3 with a strong liquidity position of $1 billion, including $604.3 million in cash.

Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has announced the release date for its third quarter 2024 operating and financial results. The results will be made public after market close on Thursday, October 31, 2024. Following this, the company will host a conference call and webcast to discuss the results on Friday, November 1, 2024, at 9:00 a.m. Eastern Time.

Participants can access the webcast through a provided link, with an archive available until February 01, 2025. For the conference call, participants can register online to receive dial-in details and a unique PIN. Alternatively, they can dial in directly and speak with a live operator. An audio recording of the call will be accessible via telephone until December 1, 2024. Presentation slides will be available on Centerra's website.

Centerra Gold announced results from its Thompson Creek feasibility study and a strategic plan for its US Molybdenum Operations. Key highlights include:

- Integrated value of Thompson Creek and Langeloth expected to have after-tax NPV8% of $472M and IRR of 22%

- Langeloth at full capacity integrated with Thompson Creek expected to generate ~$45M earnings from operations and $50M EBITDA per year

- Thompson Creek restart requires $397M capital investment over 3 years

- Thompson Creek to have 12-year mine life producing ~13M lbs molybdenum annually after ramp-up

- Langeloth plans phased ramp-up to full 40M lbs annual capacity by 2028

The integrated US Moly business shows improved economics compared to previous studies. Centerra aims to unlock value through restarting Thompson Creek and ramping up Langeloth production.

Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has announced the upcoming release of its strategic plan for US molybdenum operations, including results from the Thompson Creek feasibility study and Langeloth Metallurgical Facility commercial optimization plan. The release is scheduled for Thursday, September 12, 2024, after market close.

A conference call and webcast to discuss the release will be held on Friday, September 13, 2024, at 9:00 a.m. Eastern Time. Participants can access the webcast through a provided link, and an archive will be available until December 13, 2024. For those preferring to dial in, registration is available online, or they can call 1-844-763-8274 or 647-484-8814.

An audio recording will be accessible via telephone until October 13, 2024, using the passcode 1752426. The webcast will also be archived on Centerra's website.

Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has announced a quarterly dividend of C$0.07 per common share, totaling approximately C$14.9 million or US$10.9 million. The dividend will be payable on August 29, 2024, to shareholders of record as of the close of business on August 15, 2024. This dividend is considered eligible for Canadian income tax purposes. Centerra's Board of Directors determines the timing and amount of dividends based on factors such as operating results, cash flow, financial conditions, capital requirements, and general business conditions.

Centerra Gold has reported its second quarter 2024 results, showcasing consistent operating performance. Consolidated gold production was 89,828 ounces and copper production was 13.5 million pounds. The company sold 83,258 ounces of gold at an average realized price of $2,097 per ounce and 11.7 million pounds of copper at $3.79 per pound.

Net earnings for the quarter were $37.7 million or $0.18 per share, with an adjusted net earnings of $46.4 million or $0.23 per share. Cash provided by operating activities was $2.6 million, with a free cash flow deficit of $27.0 million.

Centerra maintained a cash balance of $592 million, declared a quarterly dividend of C$0.07 per share, and continued its share buyback program, purchasing 1,439,700 shares for $9.8 million.

The company has ongoing plans, including announcing an integrated strategy for its Molybdenum Business Unit and feasibility studies for the Thompson Creek mine and the Mount Milligan project's preliminary economic assessment in 2025.

Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has released its 2023 Environmental, Social and Governance (ESG) Report, highlighting significant progress in sustainability efforts. Key environmental achievements include emissions of 0.22 tonnes CO2e per ounce of gold produced at main operating sites, expanded GHG inventory with consolidated global Scope 1 and 2 emissions totaling 141,174 CO2e, and Öksüt mine's certification for International Cyanide Code compliance.

Social accomplishments include a 17% decrease in reportable incidents, 29% increase in local procurement spending in British Columbia, and over US$3.2 million in community investments. Governance milestones feature achieving 2026 gender diversity goals early, with 38% female representation on the Board and 33% among Officers. The company also received independent assurance of conformance with the World Gold Council's Responsible Gold Mining Principles.