Centerra Gold Extends Mine Life to 2045 with $186M Plan, Raises EPS Estimate
Centerra Gold produced 275,316 ounces of gold in 2025, including 147,600 ounces at Mount Milligan and 127,700 ounces at Öksüt. It holds $929 million liquidity, extended Mount Milligan’s mine life to 2045 under a $186 million growth plan, and consensus 2026 EPS rose 17 cents to $1.62.
1. 2025 Production Exceeds Guidance
Centerra Gold produced 275,316 ounces of gold in 2025, surpassing its guidance midpoint. Mount Milligan yielded 147,600 ounces and Öksüt contributed 127,700 ounces, reflecting balanced output across Canada and Türkiye.
2. Mine Life Extended Through 2045
A completed pre-feasibility study at Mount Milligan has extended the mine’s life to 2045 under a $186 million growth plan. Approximately 20% of the 2026 exploration budget will focus on additional drilling at this asset.
3. Strong Balance Sheet and EPS Revision
The company holds $929 million in liquidity with no debt, supporting its growth pipeline. The consensus 2026 EPS estimate has increased 17 cents to $1.62, indicating 46% year-over-year earnings growth.
4. Future Project Developments
Centerra plans to start first production at the Goldfield project in Nevada by end-2028 and advance the Kemess project with a 15-year mine life forecasting annual output of 171,000 ounces of gold and 61 million pounds of copper.