Q4 2025 Centerra Gold Inc Earnings Call Transcript
Key Points
- Centerra Gold Inc (CGAU) achieved strong operational performance in Q4 2025, with consolidated production surpassing the midpoint of gold production guidance.
- The company ended the year with a robust cash balance of $529 million, enabling continued investment in growth projects and shareholder returns.
- The Mount Milligan PFS extended the mine life by 10 years to 2045, enhancing long-term production potential.
- Centerra Gold Inc (CGAU) successfully received permits for Mount Milligan's operations through 2035, reflecting strong regulatory engagement.
- The company returned record capital to shareholders in 2025, including $94 million in buybacks and $41 million in dividends.
- The Langeloth metallurgical facility experienced a temporary suspension due to an explosion, impacting operations and increasing working capital.
- All-in sustaining costs (AISC) at Oksut are expected to rise in 2026 due to increased royalty rates and inflation in Turkiye.
- The Thompson Creek restart project has seen a capital estimate increase of 5% to 10%, reflecting inflationary impacts and additional maintenance requirements.
- The company faces challenges in managing concentrate purchases and inventory build-up during the Langeloth facility shutdown.
- Centerra Gold Inc (CGAU) anticipates higher AISC in 2026, ranging from $1,650 to $1,750 per ounce, due to various operational and market factors.
Thank you for standing by. This is the conference operator. Welcome to the Centerra Gold fourth-quarter 2025 Conference Call. (Operator Instructions) And the conference is being recorded. (Operator Instructions)
I would now like to turn the conference over to Lisa Wilkinson, Vice President, Investor Relations and Corporate Communications with Centerra Gold.
Please go ahead.
Thank you, operator, and good morning, everyone. Welcome to Centerra Gold's fourth-quarter 2025 results conference call. Joining me on the call today are Paul Tomory, President and Chief Executive Officer; David Hendriks, Chief Operating Officer; and Ryan Snyder, Chief Financial Officer. Our news published last night outlines our fourth quarter 2025 results and is complemented by our MD&A and financial statements, which are available on SEDAR, EDGAR, and our website. All figures are in US dollars unless otherwise noted. Presentation slides accompanying this webcast are
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