Centerra Gold Reports Third Quarter 2026 Results; Full-Year AISC Guidance on a By-Product Basis Lowered at Mount Milligan Following Continued Operational Execution; Record Quarterly Share Buybacks and Continued Advancement of Self-Funded North American Growth Strategy
Key Highlights
- ➤Mount Milligan AISC guidance lowered to $1,100-$1,200 per ounce from $1,200-$1,300
- ➤Q3 net earnings $88.7 million, or $0.46 per share
- ➤Q3 gold production 75,429 ounces, including 44,070 at Mount Milligan
- ➤Record Q3 share repurchases totaled $53.0 million
- ➤September 30 liquidity reached $998 million, including $398 million cash
Expert Statements
Paul Tomory, President and CEO of Centerra Gold Inc.
“This quarter’s results reflect consistent execution at our operations. Mount Milligan delivered a fourth consecutive quarter on plan and remains on track to achieve its 2026 production guidance. Strong copper by-product credits have enabled us to lower Mount Milligan’s full-year guidance for all-in sustaining costs on a by-product basis(N)(G), while Öksüt continues to track in line with its previously increased full-year production guidance and original cost guidance ranges. We are pleased with our cost performance in the quarter and year-to-date, particularly in an environment of continued industry cost pressures. During the quarter, we also achieved a record level of share repurchases, reinforcing our commitment to returning capital to shareholders and our disciplined approach to capital allocation.”
Paul Tomory, President and CEO of Centerra Gold Inc.
“Our growth pipeline is moving closer to several important milestones. At Thompson Creek, we remain on track for first molybdenum production in mid-2027, less than one year away and in a constructive price environment, and we expect to deliver the restart project within our capital cost estimate. Development work at Goldfield continues to advance well with critical long-lead items procured and site establishment activities now underway, and the Kemess Pre-Feasibility Study is progressing towards completion in mid-2027. At Öksüt, work on our Life of Mine Optimization study is well underway with results expected in early 2027 alongside our year-end disclosures. We remain confident in Centerra’s long-term outlook, with a continued focus on operational execution and the advancement of our self-funded North American growth strategy to deliver long-term value for shareholders.”
This news release contains forward-looking information about expected future events that is subject to risks and assumptions set out in the “Cautionary Statement on Forward-Looking Information” below. All figures are in United States dollars. All production figures reflect payable metal quantities and are on a 100% basis, unless otherwise stated. For references denoted with NG, refer to the “Non-GAAP and Other Financial Measures” disclosure at the end of this news release for a description of these measures.
TORONTO, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) today reported its third quarter 2026 operating and financial results.
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