Q2 2026 Centerra Gold Inc Earnings Call Transcript

Jul 29, 2026 / 01:00 PM GMT

Release Date Price: €14.83 (+5.18%)

Transcript

Key Points

Positve

Centerra Gold Inc (CGAU) increased its 2026 consolidated gold production guidance to 260,000 to 290,000 ounces, up from the previous range of 250,000 to 280,000 ounces.
The company completed $50 million in share buybacks and approved up to $200 million in share repurchases for the full year 2026, reinforcing its commitment to shareholder returns.
Centerra Gold Inc (CGAU) extended and upsized its revolving credit facility to $600 million at better pricing, enhancing financial flexibility.
Mount Milligan delivered a strong first half of 2026, resulting in a 9% increase in its gold production guidance for the year.
The company is advancing its self-funded organic growth strategy with multiple high-quality assets and projects, including the Goldfield project and Thompson Creek, which are on track for future production.

Negative

All-in sustaining costs on a byproduct basis were $1,707 per ounce in the second quarter, reflecting higher sustaining capital expenditures.
The company reported a free cash flow deficit of $23 million in the second quarter due to the timing of routine statutory tax and annual royalty payments in Turkey.
Thompson Creek's restart activities, while progressing, have incurred significant capital expenditures totaling $256 million since the restart decision.
The Goldfield project has increased its 2026 CapEx program to between $60 and $70 million, raising concerns about execution risk and inflationary pressures.
Despite strong molybdenum prices, the market remains tight, and there are concerns about the potential impact of concentrate tightness extending into 2027.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CG.TO - Centerra Gold Inc
Q2 2026 Centerra Gold Inc Earnings Call
Jul 29, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by.

This is the conference operator.

Welcome to the Centera Gold second quarter 2026 conference call, as a reminder, all participants are in listen-only mode, and the conference is being recorded.

After the presentation, there will be an opportunity to ask questions.

To join the queue, you may pressar then one on your telephone keypad.

Should you need assistance during the conference call, you may reach an operator by pressing, then 0.

I would like to turn.

Turn the conference over to Lisa Wilkinson, Vice President, Investor Relations and Corporate Communications with Centera Gold.

Please go ahead.

Thank you, operator, and good

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