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TORONTO - Centerra Gold Inc. (TSX: CG) (NYSE: CGAU), a $14.62 billion market cap mining company with strong revenue growth of 95.78% in the last twelve months, has announced an updated mineral resource estimate for its Kemess project, incorporating results from its 2024 drilling campaign. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The updated figures, effective as of April 15, 2025, include an estimated 2.7 million ounces of indicated gold resources and 971 million pounds of indicated copper resources. Additionally, inferred resources are estimated at 2.2 million ounces of gold and 821 million pounds of copper.
The company completed over 11,400 meters of core drilling in 2024 for exploration, geotechnical, and metallurgical testing. These results have been factored into the updated resource estimates, which demonstrate significant mineralization within British Columbia’s Toodoggone district. With an EBITDA of $1.57 billion and a P/E ratio of 14.4, Centerra shows strong operational efficiency. For detailed analysis and more insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
President and CEO Paul Tomory expressed satisfaction with the progress at Kemess, highlighting plans to double the exploration guidance for 2025 to between $10 and $12 million. This increased investment aims to focus on infill drilling and testing high-grade mineralization in the deeper Kemess Offset zone.
Centerra is also moving forward with a Preliminary Economic Assessment (PEA) for the Kemess project, expected to be completed by year-end. The PEA will explore a combined open pit and underground mining concept using longhole open stoping, which is anticipated to have improved economics over the previous block cave concept.
The existing infrastructure at Kemess, including a power line, processing plant, and other facilities, is expected to lower execution risk compared to new greenfield projects. The potential gold-copper mine could operate for an estimated 15 years, potentially producing an average annual yield of 250,000 gold equivalent ounces. With a Financial Health Score of 2.35 (FAIR) from InvestingPro, the company demonstrates reasonable financial stability to support this long-term project. Subscribers can access additional ProTips and detailed financial metrics to better evaluate the company’s growth potential.
British Columbia’s Minister for Mining and Critical Minerals, The Honourable Jagrup Brar, welcomed the investment and the project’s alignment with community and environmental values.
The updated mineral resources at Kemess reflect continuous mineralization along a five-kilometer trend and include adjustments to the tonnages and grades due to changes in the mining method from block cave to longhole open stoping. These changes have also affected the size and quality of resources considered for open pit mining.
Centerra’s strategic equity investment in Thesis Gold Inc. is seen as an opportunity for regional synergies, especially given the proximity of Kemess to the Lawyers-Ranch Project.
The information in this article is based on a press release statement from Centerra Gold Inc.
In other recent news, Carlyle Secured Lending, Inc. has finalized its merger with Carlyle Secured Lending III, creating a combined entity with over $2.8 billion in assets. During the merger, CSL III shareholders received shares of CGBD common stock and cash compensation for fractional shares. Carlyle Investment Management converted its preferred stock into common stock, preventing dilution. The merger incurred $5 million in costs, which Carlyle absorbed to mitigate the financial impact on CGBD. Additionally, Centerra Gold Inc. has appointed David Hendriks as its new Chief Operating Officer, effective April 15, 2025, following the departure of Paul Chawrun. Hendriks brings over 30 years of experience in the mining industry, having previously held senior positions at Calibre Mining and Kinross Gold. Meanwhile, Citi analysts maintained a Neutral rating on Carlyle Group shares, with a price target of $55, citing a slight miss in after-tax Distributable Earnings. Evercore ISI also held an ’In Line’ rating with a $51 price target for Carlyle Group, noting a miss in distributable earnings due to lower performance revenue and higher expenses. Despite these challenges, Carlyle met its fee-related earnings and fundraising goals for the year.
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