Centerra Gold Announces TSX Acceptance of Renewed Normal Course Issuer Bid and New $75 Million Langeloth Credit Facility

Centerra Gold Inc. (CG) announced the renewal of its Normal Course Issuer Bid (NCIB) for a one-year period from November 10, 2026, to November 9, 2027. The bid is authorized to purchase up to 19,318,076 common shares, representing 10% of the public float. The NCIB includes exemptive relief from the Ontario Securities Commission allowing purchases through the NYSE and other U.S.-based trading systems, expanding beyond the previous 5% limit. An automatic share purchase plan will be established to facilitate purchases during regulatory restrictions or self-imposed blackout periods.

The company's subsidiary, Langeloth Metallurgical Facility, entered into a new three-year, $75 million asset-based revolving credit facility with ING Capital LLC. The facility is designated to finance working capital requirements for the molybdenum operation, which fluctuate with molybdenum prices and volumes, thereby reducing reliance on funding from the parent company.

Centerra Gold Inc. (CG) has renewed its normal course issuer bid (NCIB), establishing a structured and expanded mechanism for share repurchases that signals management’s conviction that the equity is undervalued relative to underlying assets and future prospects. Additionally, the company secured a $75 million subsidiary credit facility designed to ring-fence working capital volatility for its molybdenum operation. This facility prevents parent balance sheet strain during the molybdenum price cycle and the Thompson Creek ramp-up. These actions reinforce the existing capital allocation framework and liquidity posture rather than introducing new strategic pivots or transformative events.

Centerra Gold Inc. (CG) operates a diversified portfolio of assets across North America and Turkey. Its flagship operation is the Mount Milligan gold-copper mine in British Columbia, Canada, which is currently in production. The company also operates the Öksüt gold mine in Turkey.

In the United States, Centerra is managing the restart of the Thompson Creek / US Moly molybdenum mine in Idaho. This operation is supported by the Langeloth Metallurgical Facility in Pennsylvania, which serves as the company’s molybdenum processing plant.

The company’s development pipeline includes advanced-stage projects in British Columbia: the Goldfield gold project and the Kemess gold-copper project. Centerra’s corporate strategy focuses on a self-funded North American growth pipeline, maintaining a robust balance sheet, and returning excess capital to shareholders.