Centerra Gold extends Mount Milligan mine to 2033

In contrast with the 2020 Mount Milligan technical report, complete payable gold manufacturing would enhance by 800,000 oz. (from 1.1 million oz. to 1.9 million oz.) and complete payable copper manufacturing by 191 million lb. (from 560 million lb. to 751 million lb.) from 2022 onwards.

The LOM payable gold manufacturing is predicted to achieve 1.9 million oz. at a manufacturing value of $502/oz., an all-in sustaining value on a byproduct foundation of $756/oz. and all-in value on a byproduct foundation of $770/oz.

In line with Centerra, latest inflationary value stress will probably be considered when the corporate updates and discloses the Mount Milligan mine’s 2023-2025 manufacturing and price steerage in early 2023. Its 2022 steerage stays on observe for year-end.

Internet money movement over the LOM is estimated at $640 million utilizing a gold value of $1,500/oz. and copper value of $3.25/lb., and over $1 billion at costs of $1,700/oz. of gold and $3.50/lb. of copper.

Mount Milligan’s after-tax web current worth is estimated at $486 million (utilizing a 5% low cost charge) for base-case situation and $797 million for the upper metallic value situation.

Positioned 155 km northwest of Prince George, BC, Mount Milligan is a traditional truck-shovel open-pit copper-gold mine and concentrator with a 60,000 t/d capability copper flotation processing plant.

Mineral sources inside the copper-gold porphyry deposit are at present estimated at 189.3 million tonnes grading 0.3 g/t gold and 0.18% copper within the measured and indicated classes, plus 4.6 million tonnes grading 0.47 g.t gold and 0.07% copper inferred.

Centerra believes there exists important exploration potential on the Mount Milligan mine peripheral to the open pit and inside the wider tenement holdings. Ongoing enlargement drilling on the west wall of the pit and beneath the present final open pit boundary has yielded assays of comparable or larger grade to the present useful resource mannequin.

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