Centerra Gold Inc. · TSX:CG
Centerra Gold — Q4 2023 Earnings Presentation
13 slides from Centerra Gold's earnings presentation, Feb 23, 2024
Slide 1: Building a Strong Platform for Future Growth
TSX CG NYSE CGAU BUILDING A STRONG PLATFORM FOR FUTURE GROWTH Fourth Quarter 2023 Results Conference Call & Webcast FEBRUARY 23, 2024
Slide 2: Caution Regarding Forward Looking Information
Caution Regarding Forward Looking Information This document contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, which addre
Slide 3: Use of Non-GAAP and Other Specified Financial Measures
Use of Non-GAAP and Other Specified Financial Measures This document contains “specified financial measures” within the meaning of NI 52-112, specifically the non-GAAP financial measures, non-GAAP ratios and supplementary financial measures described below. Management believes that the use of these
Slide 4: Q4 2023 Summary
Q4 2023 Summary Strong finish to 2023, achieving both production and cost guidance for the year Q4 2023 SUMMARY Q4 2023 was the second consecutive quarter of significant free cash flow; ended 2023 with over $600M in cash & cash equivalents Produced 40,503 ounces gold in Q4 2023 MOUNT Additional agre
Slide 5: Mount Milligan Operating Highlights
Mount Milligan Operating Highlights Achieve 2023 production guidance ranges for both gold and copper; Beat 2023 AISC(1) guidance Q4 2023 AND FULL YEAR HIGHLIGHTS Operating Highlights Production: Achieved full year guidance Q4 2023 FY 2023 Tonnes mined (000s) 12,397 50,015 Q4 2023: 40,503 ounces gold
Slide 6: Mount Milligan Reserves & Resources
Mount Milligan Reserves & Resources Actively studying PEA to assess the Milligan’s Mount longer-term potential potential to at beMount Milligan to a multi-decade unlock additional value beyond 2035 operation EXTENSIVE RESERVES AND RESOURCES Reserves: 250 million tonnes of reserves at Mount Milligan,
Slide 7: Exploration Drilling at Mount Milligan
Exploration Drilling at Mount Milligan Exploration drilling program aimed at potentially significantly expanding the mineral resource base MOUNT MILLIGAN EXPLORATION PROGRAM 2024 exploration spending guidance at Mount Milligan: $5 - $7 million 2023 Mount Milligan exploration activities 80% of the dr
Slide 8: Öksüt Mine Operating Highlights
Öksüt Mine Operating Highlights Second consecutive quarter of strong operational performance; Achieve 2023 production and cost guidance Q4 2023 AND FULL YEAR HIGHLIGHTS Operating Highlights Production: Achieved full year guidance Q4 2023 FY 2023 Tonnes mined (000s) 3,499 9,873 Q4 2023: 88,756 ounces
Slide 9: Financial Results
Financial Results Financials ($M, except as noted) Q4 2023 FY 2023 Net earnings (loss) ($28.8) ($81.3) Net earnings (loss) per common share - $/share basic(2) ($0.13) ($0.37) Adjusted net earnings (loss)(1) $61.2 $10.5 Adjusted net earnings (loss) per common share - $/share basic(1,2) $0.28 $0.05 Go
Slide 10: Financial Highlights
Financial Highlights Q4 2023 was the second consecutive quarter of strong cash generation; Total liquidity exceeds $1 billion Q4 2023 CASH GENERATION $160 Cash Credit 144 145 $613M Facility $140 128 $398M $120 111 $100 TOTAL $M $80 LIQUIDITY(2) $60 $1.01B $40 29 $20 14 $0 -$20 -8 -9 Cash Provided by
Slide 11: 2024 Guidance
2024 Guidance 2024 Consolidated Guidance 2023 Actuals 2024 Guidance Gold Production (Koz) 350 370 – 410 Copper Production(2,3,4) (Mlb) 62 55 – 65 Gold Production Costs ($/oz) 733 800 – 900 All-in Sustaining Costs on a by-product basis(1,3,4) ($/oz) 1,013 1,075 – 1,175 Additions to PP&E ($M) 121.7 10
Slide 12: Questions
QUESTIONS
Slide 13: Thank You
TSX CG NYSE CGAU THANK YOU! 1 University Avenue, Suite 1800 phone 416-204-1953 Toronto, Ontario M5J 2P1 fax 416-204-1954 email info@centerragold.com