Centerra Gold

Centerra Gold plans to finance growth from operating cash flow and over CAD 1 billion liquidity, remains debt-free, and intends to buy back shares and pay dividends. Mount Milligan’s life of mine was extended to 2045 and, according to management, is the main value driver, while Öksüt continues to generate strong free cash flow. The restart of the Thompson Creek molybdenum mine is on schedule and on budget, with production targeted for mid-2027 and seen as a major inflection point for free cash flow. Other projects (Goldfield, Kemess) are being staged to avoid overlapping large financing needs. » More on de.investing.com

Centerra Gold has expanded its revolving credit facility from $400 million to $600 million and extended the maturity to July 15, 2030. The interest rate was reduced to SOFR plus 1.875% to 3.000% (previously 2.25%–3.25%) and no amount has been drawn to date. The facility can be used for working capital, investments, acquisitions and capex, and is led by Bank of Nova Scotia and National Bank of Canada with support from an international syndicate. According to data, Centerra has more cash than debt and a short-term liquidity ratio of 1.99. » More on de.investing.com

L1 Capital disclosed a new position of 7,051,683 Centerra Gold shares, valued at about $125.4 million and representing roughly 4.91% of its 13F-reportable AUM. Centerra shares traded at $17.67, up about 150% over the past year, after first-quarter revenue rose 62% and net earnings climbed 160%. The company reported $49 million in free cash flow, $543.5 million in cash and $943.5 million total liquidity, and is funding growth projects including Kemess, Thompson Creek and Goldfield from internal cash generation. The stake signals investor confidence in Centerra's cash-rich position and self-funded growth strategy. » More on finance.yahoo.com