Centerra Gold Inc. ( (CGAU) ) has released its Q1 earnings. Here is a breakdown of the information Centerra Gold Inc. presented to its investors.
Centerra Gold Inc. is a Canadian-based mining company that focuses on the exploration, development, and operation of gold and copper properties primarily in North America and Türkiye. The company is known for its significant presence in the gold-copper mining sector and operates notable mines such as Mount Milligan in British Columbia and Öksüt in Türkiye.
In its first quarter of 2025, Centerra Gold reported positive financial results, maintaining a strong cash position and announcing a share repurchase program of up to $75 million for the year. The company highlighted its ongoing projects, including the advancement of the Kemess project in British Columbia, which has shown promising mineral resource updates.
Key financial metrics for the quarter included consolidated gold production of 59,379 ounces and copper production of 11.6 million pounds. The company achieved net earnings of $30.5 million, or $0.15 per share, and maintained a robust cash balance of $608 million. Centerra also reported an increase in capital expenditures, primarily due to the restart of operations at the Thompson Creek Mine.
Strategically, Centerra is moving forward with a Preliminary Economic Assessment for the Kemess project, targeting a potential 15-year operation with an average annual production of approximately 250,000 gold equivalent ounces. The company is also focused on optimizing its existing operations and exploring additional tailings capacity at Mount Milligan to extend its mine life.
Looking ahead, Centerra Gold remains committed to enhancing shareholder value through its capital allocation strategy, including share buybacks and dividend payments. The company continues to focus on advancing its key projects while maintaining financial flexibility to support future growth initiatives.