Meet Mining Companies in London

Centerra Gold Inc. is a Canadian-based gold and copper producer and developer headquartered in Toronto, Ontario. The Company operates two mines: the Mount Milligan Mine, a long-life gold-copper asset in British Columbia, Canada, and the Öksüt Mine, a gold asset in Türkiye. Centerra has a self-funded organic growth pipeline in North America, including the Kemess gold-copper Project in British Columbia, Canada, and the Goldfield gold Project in Nevada, United States. 

The Company also owns and operates US Moly, a vertically integrated molybdenum business in the United States comprising the Thompson Creek Mine in Idaho and the Langeloth Metallurgical Facility in Pennsylvania. Centerra’s shares trade on the Toronto Stock Exchange (TSX: CG) and on the New York Stock Exchange (NYSE: CGAU).Cash: US$398M (as at September 30, 2026)

Corporate Credit Facility: $600M (available as at September 30, 2026)

Liquidity: $998M (as at September 30, 2026)

Debt: Nil

Major shareholders: L1 Capital – 8.4%, Donald Smith and Company – 7.9%, Van Eck Associates Corporation – 7.1%, Management ownership – 0.2%

Management Profile:

Lisa Wilkinson, Vice President of Investor Relations & Corporate Communications at Centerra Gold.

Lisa manages relationships with the capital markets community and acts as spokesperson to investors and analysts. She serves as a key liaison between the financial markets and Centerra’s senior leadership, providing insights on valuation trends and investor sentiment.

Lisa has over 20 years of experience in investor relations and communications, corporate development, and strategic capital planning and a track record of creating and leading best-in-class investor relations strategies and programs. Prior to joining Centerra in May 2023, she served as Vice President of Investor Relations at Eldorado Gold and TMAC Resources. Prior to that, she worked on capital allocation, business planning and capital projects at Kinross Gold and in equity research with RBC, Scotia, and Citigroup. Lisa is currently on the Board of Directors of Kuya Silver Corporation and is the Chair of the Audit Committee and a member of the Nominating, Compensation and Governance Committee.

Lisa has a Bachelor of Applied Science (Chemical Engineering) from the University of Waterloo and a Master of Business Administration from the Rotman School of Management at the University of Toronto. Lisa maintains a Professional Engineer designation in Ontario and is a certified Project Management Professional.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Centerra is focused on operational execution across our sites and advancing our organic growth pipeline of projects. At Mount Milligan we are focused on delivering against the updated mine plan outlined in the PFS released in September 2025. 

We are also working on a Life of Mine Optimization Study at Öksüt to evaluate the asset’s full potential, including the incremental production potential of residual leaching of the heap leach facility and the inclusion of low-grade oxide mineralization outside of the current reserve pit into the mine plan. The study will explore options to increase gold recovery from existing leach pads through improved solution management and enhanced operating practices. The study is expected in early 2027 with Centerra’s year end disclosures. 

6 Months:

Centerra is focused on the advancement of our projects. Construction and development activities are progressing at the Thompson Creek molybdenum mine in Idaho as the project continues to advance towards first production in mid-2027. 

Our team is also advancing engineering and technical work on the next phase of studies at Kemess, with a PFS expected in mid-2027.

12 Months:

Work continues at the Goldfield project in Nevada where we recently achieved an important permitting milestone in the third quarter. All major permits are now in place for the Gemfield deposit, which accounts for approximately 80% of the life of mine production.   Construction and development activities will be ramping up over the coming months with Goldfield representing Centerra’s next source of near-term gold production. First production is expected by the end of 2028.

Centerra will also be focused on continued operational and project execution to support in realizing the value of all assets in our portfolio.

What do you think makes your company such a compelling investment?

• Centerra Gold is a gold and copper producer, with a strong balance sheet and no debt, operating in favorable jurisdictions (Canada, USA, Türkiye) with exposure to strategic minerals through our US Molybdenum business.

• It is led by a strong, technically-focused management team and offers exposure to a growing North American production profile through our projects in Canada (Mount Milligan and Kemess) and in the US (Goldfield).

• Centerra has two long-life gold-copper assets in British Columbia, Canada (Mount Milligan and Kemess), both with meaningful exploration upside, giving us visibility on gold production well into the 2040’s and beyond.

• Centerra is trading at a discounted P/NAV multiple, backed by 5.5 Moz of gold and 1.7B lbs of copper reserves, 2026E production of 260-290kozs of gold and 50-60Mlbs of copper, and liquidity of almost $1 billion.

• Centerra has built a strong, balanced growth pipeline and as we continue to deliver on our operational plans and advance our project pipeline, we believe we have the potential to re-rate our valuation.