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Centerra Gold Reports First Quarter 2025 Results; Approved up to $75 Million to Repurchase Shares in 2025; Announces Updated Mineral Resource at Kemess and Advancing Studies on the Project
This news release contains forward-looking information about expected future events that is subje...
About this update from Centerra Gold Inc.
[{"type":"text","content":"Centerra Gold Reports First Quarter 2025 Results; Approved up to $75 Million to Repurchase Shares in 2025; Announces Updated Mineral Resource at Kemess and Advancing Studies on the Project\n\n\n\n\n This news release contains forward-looking information about expected future events that is subject to risks and assumptions set out in the “Cautionary Statement on Forward-Looking Information” below. All figures are in United States dollars. All production figures reflect payable metal quantities and are on a 100% basis, unless otherwise stated. For references denoted with NG, refer to the “Non-GAAP and Other Financial Measures” disclosure at the end of this news release for a description of these measures.\n \n\n\n TORONTO, May 06, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) today reported its first quarter 2025 operating and financial results.\n \n\n President and CEO, Paul Tomory, commented, “In the first quarter, we generated positive free cash flow at both operations. Our 2025 production guidance is unchanged, and we expect strong production in the second half of 2025 driven by increasing grades. The restart of Thompson Creek is advancing, with approximately 14% of the total capital investment complete. We maintained a strong cash position of $608 million, ensuring financial flexibility to advance ongoing and prospective project activities. With a focus on returning capital to shareholders, we increased our share repurchases to $14.9 million in the first quarter, and the Board of Directors has approved the repurchase of up to $75 million of Centerra’s common shares in 2025.”\n \n\n Paul Tomory continued, “We are pleased to be moving forward with a Preliminary Economic Assessment on the Kemess project, which is expected to be completed by the end of 2025. The updated mineral resource published today demonstrates the robust mineralization in the highly prospective Toodoggone district in the northern interior of British Columbia. We have doubled our 2025 exploration guidance at Kemess to between $10 and $12 million, which is expected to focus on infill drilling for the open pit and underground targets and also to test high grade mineralization in the deeper Kemess Offset zone. With Ke...