Centerra Gold Inc. reported its second quarter 2025 operating and financial results on August 6, 2025, announcing adjusted net earnings of $53 million, or $0.26 per share. The company generated $98 million in cash flow from operations before changes in working capital and taxes paid, driven by high commodity prices.
Mount Milligan's 2025 gold production guidance was revised to 145,000 to 165,000 ounces, down from previous estimates, due to lower-than-anticipated gold grades from challenging mineralization zones. Consequently, Mount Milligan's 2025 gold production costs and AISC guidance ranges were increased to $1,350-$1,450 per ounce. Öksüt's 2025 cost guidance was also revised upwards due to higher royalty costs and an updated Turkish royalty structure.
A significant strategic development is the decision to proceed with the Goldfield project development and construction activities. The project is expected to deliver an after-tax NPV (5%) of $245 million and an IRR of 30%, with first production targeted by the end of 2028. Centerra's robust financial position, with a cash balance of $522 million and over $920 million in total liquidity, enables it to fully fund this project and continue its share buyback program, having repurchased $42 million in H1 2025.
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