Centerra Gold (NYSE:CGAU) announced a self-funded growth strategy focused on its operating mines and molybdenum business during the Midwest IDEAS Conference in September 2023. The Toronto-based miner reported a cash position of C$451 million and over C$1 billion in liquidity. It aims to repurchase C$200 million in shares this year, highlighting a dividend yield of approximately 1% to 1.5%.
Mount Milligan, located in British Columbia, is projected to produce between 140,000 to 155,000 ounces of gold and 50 million to 60 million pounds of copper annually. Meanwhile, the Öksüt gold mine in Turkey is expected to generate 120,000 to 135,000 ounces of gold, with the company assessing a potential one- to two-year mine-life extension utilizing lower-grade materials.
Centerra is diversifying its portfolio with development projects, including the Thompson Creek molybdenum mine restart planned for mid-2027, the Goldfield gold project anticipated to begin production in late 2028, and the Kemess gold-copper project expected to commence in late 2031. These projects aim to optimize capital expenditures, utilizing existing resources to fund operations without dilutive equity financing.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
