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Centerra Gold Reports Second Quarter 2025 Results; Reinforced Balance Sheet Strength with Strong Operational Cash Flow Performance; Advancing the Goldfield Project and Accelerating a Self-Funded Gold Growth Strategy

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Centerra Gold Reports Second Quarter 2025 Results; Reinforced Balance Sheet Strength with Strong Operational Cash Flow Performance; Advancing the Goldfield Project and Accelerating a Self-Funded Gold Growth Strategy

 

 

 

 

 

Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) reported its second quarter 2025 operating and financial results.

 

President and CEO, Paul Tomory, commented, “In the second quarter, both Mount Milligan and Öksüt contributed to a strong $98 million in cash flow from operations before changes in working capital and taxes paid, driven by high commodity prices. At Mount Milligan, we are updating our 2025 gold production and cost guidance ranges as a result of mining in lower grade zones and we are updating our 2025 cost guidance ranges at Öksüt due to higher royalty costs driven by elevated gold prices and an updated royalty structure that was approved by the Turkish government in July 2025. We maintained a robust financial position, which has enabled Centerra to increase share buybacks to $27 million in the second quarter, up 80% compared to last quarter. In the first half of 2025, in line with our disciplined capital allocation strategy, we have repurchased $42 million of shares, with up to $75 million approved for the full year, which reinforces our confidence in the long-term value of our growing business.”

 

Paul Tomory continued, “We are pleased to be advancing with development and construction at the Goldfield project. Over the last several months, Centerra has undertaken additional technical work and project optimizations that have significantly enhanced Goldfield’s value proposition and have de-risked the project. Favourable gold prices combined with these recent developments have improved the Project’s economics, enabling us to move forward with execution. We believe Goldfield is well positioned to deliver strong returns, including an after-tax net present value (5%) (“NPV5%”) of $245 million and an after-tax internal rate of return (“IRR”) of 30%, using a long-term gold price of $2,500 per ounce and including the impact of gold hedges. The project is expected to be funded from Centerra’s existing liquidity and is located in a top tier mining jurisdiction, with an approximate 7-year mine life, average annual production of 100,000 ounces in peak production years at an all-in sustaining costNG of $1,392 per ounce, and a competitive initial capital cost of $252 million. First production from Goldfield is expected by the end of 2028, which would grow Centerra’s near-term gold production profile, generate robust cash flow and deliver significant value to shareholders. We believe Goldfield to be ideally positioned in our project development pipeline as we continue to advance development of the longer-life Mount Milligan and Kemess gold-copper assets in British Columbia.”

 

Second Quarter 2025 Highlights

 

Operations

  • Production: In the second quarter 2025, consolidated gold production was 63,311 ounces, including 35,058 ounces from the Mount Milligan Mine and 28,253 ounces from the Öksüt Mine. Copper production in the quarter was 12.4 million pounds.
  • Sales: Second quarter 2025 gold sales were 61,335 ounces at an average realized gold priceNG of $2,793 per ounce and copper sales were 12.1 million pounds at an average realized copper priceNG of $3.62 per pound. The average realized gold and copper prices include the impact of the Mount Milligan streaming agreement with RGLD Gold AG and Royal Gold, Inc. (collectively “Royal Gold”).
  • Costs: Second quarter 2025 consolidated gold production costs were $1,308 per ounce and all-in sustaining costs (“AISC”) on a by-product basisNG were $1,652 per ounce.
  • Capital expendituresNG: Second quarter 2025 additions to property, plant, and equipment and capital expendituresNG were $55.6 million and $53.9 million, respectively. Sustaining capital expendituresNG in the second quarter 2025 were $25.8 million and included construction at the tailings storage facility and capitalized exploration at Mount Milligan, as well as capitalized stripping and expansion of the heap leach pad at Öksüt. Non-sustaining capital expendituresNG in the second quarter were $28.1 million related mainly to the restart of operations at the Thompson Creek Mine.

 

Financial

  • Net earnings: Second quarter 2025 net earnings were $68.6 million, or $0.33 per share, and adjusted net earningsNG were $52.7 million or $0.26 per share. Key adjustments to net earnings include $15.0 million of unrealized gain on the re-measurement of the sale of the Greenstone Partnership in 2021, $12.1 million of unrealized loss on the financial assets related to the additional agreement with Royal Gold Inc. (“Royal Gold”), and $11.0 million of deferred income tax adjustments arising from the impact of foreign exchange rate movement on deferred income taxes at Mount Milligan, partially offset by a drawdown on the deferred tax asset related to Mount Milligan. For additional adjustments refer to the “Non-GAAP and Other Financial Measures” disclosure at the end of this news release.
  • Cash provided by operating activities and free cash flowNG: In the second quarter 2025, cash provided by operating activities before working capital and income taxes paid was $98.4 million, up 22% from last quarter. Cash provided by operating activities was $25.3 million and free cash flow deficitNG was $25.6 million, impacted mainly by statutory tax and royalty payments at Öksüt. This includes $57.2 million of cash provided by mine operations and $42.8 million of free cash flowNG at Mount Milligan, offset by $17.6 million of cash used in mine operations and $28.2 million of free cash flow deficitNG at Öksüt, and capital expendituresNG at Thompson Creek.
  • Cash and cash equivalents: Total liquidity of $922.3 million as at June 30, 2025, comprising a cash balance of $522.3 million and $400.0 million under a corporate credit facility.
  • Returning capital to shareholders: Quarterly dividend declared of C$0.07 per common share for a total of $10.5 million in the second quarter, and $20.6 million year-to-date. Under Centerra’s normal course issuer bid (“NCIB”) program, the Company repurchased 3,889,507 common shares (“Shares”) in the second quarter 2025, for total consideration of $27.0 million, up 80% compared to last quarter. The Company’s board of directors has approved the repurchase of up to $75 million of Centerra’s Shares through the NCIB in 2025, of which, the Company has completed $42.0 million year-to-date. Centerra believes that the NCIB will continue to provide the Company with a flexible tool to deploy cash pursuant to its capital allocation strategy, while preserving the financial flexibility to support investment in future growth.

 

Strategic Growth Initiatives

  • Advancing the Goldfield project: Centerra has completed a technical study of its Goldfield project, which confirms attractive economics for the Project, including an after-tax NPV5% of $245 million and an after-tax IRR of 30%, using a long-term gold price of $2,500 per ounce. This includes the impact of gold hedges, with a gold price floor of $3,200 per ounce, on a portion of production in 2029 and 2030 to lock in strong margins, safeguard economics in the early years of the Project, and expedite the capital payback period. The initial capital investment at Goldfield is $252 million, including approximately $40 million in pre-production stripping and other costs, and the Project is expected to benefit from a short timeline to first production by the end of 2028 and low execution risk given its relatively simple process flow sheet. The Project is located in a historic mining district of Nevada, offering a stable regulatory environment, skilled workforce, and strong support for resource development. Over the last several months, Centerra has undertaken additional technical work and optimizations that have significantly enhanced Goldfield’s value proposition and de-risked the project. Favourable gold prices combined with these developments have improved the Project’s economics, enabling Centerra to move forward with execution. The Project is expected to provide an increase in gold production, which will help offset natural declines at Öksüt, and ensure continuity as Centerra advances its next phase of long-life, gold-copper, cornerstone organic growth projects in British Columbia at Mount Milligan and Kemess. For additional details on Goldfield, refer to the news release published on August 6, 2025 titled “Centerra Gold Announces Attractive Economics on the Goldfield Project; Proceeding with Project Development and Construction Activities”.
  • Two project studies supporting Centerra’s long-life gold-copper organic growth strategy in British Columbia are progressing positively toward completion in the second half of 2025: At Mount Milligan, work on a Pre-Feasibility Study (“PFS”) to evaluate the substantial mineral resources aimed at unlocking additional value beyond its current mine life of 2036 is on track to be completed in the third quarter of 2025. At the Kemess project (“Kemess”), the Company continues to successfully advance work on a Preliminary Economic Assessment (“PEA”), based on an open pit and longhole open stoping underground mining concept, which is expected to be completed by the end of 2025. Kemess has significant infrastructure already in place that will require some refurbishment. Complementing this existing infrastructure, it is anticipated that new crushing, conveying, and mine infrastructure will be required for the operations. Centerra expects the existing infrastructure to lower the execution risk for the project when compared with a typical greenfield project of this scale. These studies represent significant milestones in advancing the Company’s gold growth development pipeline and are focused on unlocking additional value from its assets in British Columbia, a top tier mining jurisdiction.

 

 

Overview of Consolidated Financial and Operating Highlights

 

($millions, except as noted) Three months ended June 30, Six months ended June 30,
  2025   2024   % Change 2025   2024 % Change
Financial Highlights          
Revenue 288.3   282.3   2 % 587.8   588.2 %
Production costs 174.9   162.5   8 % 373.7   336.3 11 %
Depreciation, depletion, and amortization (“DDA”) 26.0   27.5   (5)% 50.1   60.8 (18)%
Earnings from mine operations 87.4   92.3   (5)% 164.0   191.0 (14)%
Net earnings 68.6   37.7   82 % 99.0   104.1 5 %
Adjusted net earnings(1) 52.7   46.4   14 % 79.0   77.7 2 %
Adjusted EBITDA(1) 79.8   46.3   72 % 147.8   171.3 (14)%
Cash provided by operating activities 25.3   2.6   873 % 83.9   102.0 (18)%
Free cash flow (deficit)(1) (25.6 ) (27.0 ) 5 % (15.5 ) 54.1 (129)%
Additions to property, plant and equipment (“PP&E”) 55.6   37.9   47 % 123.7   53.2 133 %
Capital expenditures – total(1) 53.9   36.3   48 % 100.8   53.1 90 %
Sustaining capital expenditures(1) 25.8   30.6   (16)% 43.8   46.8 (6)%
Non-sustaining capital expenditures(1) 28.1   5.7   393 % 57.0   6.3 805 %
Net earnings per common share – $/share basic(2) 0.33   0.18   83 % 0.48   0.49 1 %
Adjusted net earnings per common share – $/share basic(1)(2) 0.26   0.23   13 % 0.38   0.36 6 %
Operating highlights            
Gold produced (oz) 63,311   89,828   (30)% 122,690   201,169 (39)%
Gold sold (oz) 61,335   83,258   (26)% 122,466   187,571 (35)%
Average market gold price ($/oz) 3,280   2,238   47 % 3,070   2,203 39 %
Average realized gold price ($/oz )(3) 2,793   2,097   33 % 2,674   1,955 37 %
Copper produced (000s lbs) 12,437   13,549   (8)% 24,084   27,880 (14)%
Copper sold (000s lbs) 12,103   11,705   3 % 24,244   27,327 (11)%
Average market copper price ($/lb) 4.32   4.42   (2)% 4.28   4.12 4 %
Average realized copper price ($/lb)(3) 3.62   3.79   (4)% 3.71   3.41 9 %
Molybdenum roasted (000 lbs)(5) 3,165   1,948   62 % 6,199   4,839 28 %
Molybdenum sold (000s lbs) 3,076   2,675   15 % 7,320   5,623 30 %
Average market molybdenum price ($/lb) 20.72   21.79   (5)% 20.62   19.93 3 %
Average realized molybdenum price ($/lb)(3) 21.43   22.10   (3)% 21.52   21.25 1 %
Unit costs            
Gold production costs ($/oz)(4) 1,308   870   50 % 1,290   802 61 %
All-in sustaining costs on a by-product basis ($/oz)(1)(4) 1,652   1,179   40 % 1,572   1,001 57 %
All-in costs on a by-product basis ($/oz)(1)(4) 1,901   1,442   32 % 1,811   1,191 52 %
Gold – All-in sustaining costs on a co-product basis ($/oz)(1)(4) 1,866   1,260   48 % 1,804   1,125 60 %
Copper production costs ($/lb)(4) 2.06   2.46   (16)% 2.15   2.14 %
Copper – All-in sustaining costs on a co-product basis ($/lb)(1)(4) 2.53   3.21   (21)% 2.54   2.55 %

(1) Non-GAAP financial measure. See discussion under “Non-GAAP and Other Financial Measures”.

(2) As at June 30, 2025, the Company had 204,325,992 common shares issued and outstanding.

(3) This supplementary financial measure within the meaning of National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure (“NI 51-112”) is calculated as a ratio of revenue from the consolidated financial statements and units of metal sold and includes the impact from the Mount Milligan Streaming Agreement (defined below), copper hedges and mark-to-market adjustments on metal sold not yet finally settled. Under the Mount Milligan Streaming Agreement, the Company purchases refined gold and copper warrants and arranges for their delivery to Royal Gold and Royal Gold is entitled to 35% of gold ounces sold and 18.75% of copper pounds sold. Royal Gold paid $435 per ounce of gold delivered and 15% of the spot price per tonne of copper delivered in the periods presented.

(4) All per unit costs metrics are expressed on a metal sold basis.

(5) Amount does not include 0.2 million pounds of molybdenum roasted of toll material for the three and six months ended June 30, 2025 (nil in 2024).

 

 

2025 Guidance – Gold and copper producing assets

 

  Units 2025
Guidance-
updated
Six Months
Ended June
30, 2025
2025
Guidance-
previous
Production        
Total gold production(1) kozs 250 – 290 123 270 – 310
Mount Milligan Mine(2)(3)(4) kozs 145 – 165 71 165 – 185
Öksüt Mine kozs 105 – 125 52 105 – 125
Total copper production(2)(3)(4) Mlbs 50 – 60 24 50 – 60
Unit Costs(5)        
Gold production costs(1) $/oz 1,300 – 1,400 1,290 1,100 – 1,200
Mount Milligan Mine(2) $/oz 1,350 – 1,450 1,371 1,075 – 1,175
Öksüt Mine $/oz 1,200 – 1,300 1,181 1,100 – 1,200
AISC on a by-product basisNG(1)(3)(4) $/oz 1,650 – 1,750 1,572 1,400 – 1,500
Mount Milligan Mine $/oz 1,350 – 1,450 1,224 1,100 – 1,200
Öksüt Mine $/oz 1,675 – 1,775 1,665 1,475 – 1,575
Capital Expenditures        
Additions to PP&E $M 105 – 130 64.2 105 – 130
Mount Milligan Mine $M 75 – 90 40.3 75 – 90
Öksüt Mine $M 30 – 40 23.9 30 – 40
Total capital expendituresNG $M 105 – 130 47.9 105 – 130
Sustaining capital expendituresNG $M 90 – 110 43.2 95 – 115
Mount Milligan Mine $M 60 – 70 23.9 65 – 75
Öksüt Mine $M 30 – 40 19.3 30 – 40
Non-sustaining capital expendituresNG $M 15 – 20 4.7 10 – 15
Mount Milligan Mine $M 15 – 20 4.7 10 – 15
Other Items        
Depreciation and amortization $M 95 – 115 47.8 95 – 115
Mount Milligan Mine $M 60 – 70 30.8 60 – 70
Öksüt Mine $M 35 – 45 17.0 35 – 45
Current Income tax and BC mineral tax expense(1) $M 48 – 55 34.4 35 – 42
Mount Milligan Mine $M 3 – 5 2.2 3 – 5
Öksüt Mine $M 40 – 50 32.2 32 – 37
Corporate and administration costs(6) $M 28 – 32 16.7 28 – 32

(1) Consolidated Centerra figures.

(2) The Mount Milligan Mine is subject to an arrangement with RGLD Gold AG and Royal Gold Inc. which entitles Royal Gold to purchase 35% and 18.75% of gold and copper produced, respectively, and requires Royal Gold to pay $435 per ounce of gold and 15% of the spot price per metric tonne of copper delivered (“Mount Milligan Mine Streaming Agreement”). Using assumed market prices of $3,300 per ounce of gold and $4.00 per pound of copper for the remaining two quarters of 2025, the Mount Milligan Mine’s average realized gold and copper price for that period would be $2,297 per ounce and $3.36 per pound, respectively, compared to average realized prices of $2,371 per ounce and $3.71 per pound in the six months ended June 30, 2025, when factoring in the Mount Milligan Streaming Agreement and concentrate refining and treatment costs.

(3) Gold and copper production for 2025 at the Mount Milligan Mine assumes estimated recoveries of 63% to 65% for gold and 77% to 79% for copper, consistent with the previous guidance, and compared to the actual recoveries for gold of 62.0% and for copper of 77.3% achieved in the six months ended June 30, 2025.

(4) Unit costs include a credit for forecasted copper sales treated as by-product for all-in sustaining costsNG. Production for copper and gold reflects estimated metallurgical losses resulting from handling of the concentrate and metal deductions levied by smelters.

(5) Units noted as ($/oz) relate to gold ounces.

(6) Corporate and administration costs do not include stock-based compensation and corporate depreciation.

 

 

2025 Guidance – Molybdenum Business Unit

 

  Units 2025
Guidance
Six Months Ended
June 30, 2025
Production      
Total molybdenum roasted(1) Mlbs 13 – 15 6.2
Total molybdenum sold Mlbs 13 – 15 7.3
Costs and Profitability – Langeloth      
(Loss) earnings from operations $M (3) – 5 (2.0)
Adjusted EBITDANG $M 2 – 8 0.3
Capital Expenditures      
Additions to PP&E $M 132 – 150 59.2
Thompson Creek Mine $M 130 – 145 58.6
Langeloth $M 2 – 4 0.6
Total capital expendituresNG $M 132 – 150 52.9
Sustaining capital expendituresNG – Langeloth $M 2 – 4 0.6
Non-sustaining capital expendituresNG – Thompson Creek Mine $M 130 – 145 52.3
Other Items      
Depreciation and amortization $M 3 – 5 2.2
Langeloth $M 3 – 5 2.2
Care & Maintenance Cash Expenditures – Endako $M 6 – 8 2.9
Reclamation – Endako $M 4 – 7 3.8

(1) 2025 guidance figure does not include any toll material roasted.

 

2025 Guidance – Global Exploration and Evaluation Projects

  Units 2025
Guidance
Six Months Ended
June 30, 2025
Project Exploration and Evaluation Costs      
Exploration Costs $M 40 – 50 19.9
Brownfield Exploration $M 25 – 30 12.7
Greenfield and Generative Exploration $M 15 – 20 7.2
Evaluation Costs $M 8 – 12 2.9
Other Kemess Costs      
Care & Maintenance $M 13 – 15 6.4

 

 

Mount Milligan

 

Mount Milligan produced 35,058 ounces of gold and 12.4 million pounds of copper in the second quarter of 2025. During the second quarter of 2025, a total of 12.4 million tonnes was mined from phases 5, 6, 7 and 10 of the open pit. Process plant throughput for the second quarter of 2025 was 5.3 million tonnes, averaging 58,302 tonnes per day. In the first half of 2025, mining operations have encountered zones with more challenging mineralization, resulting in lower than anticipated gold grades from these areas of the pit. While gold grades remain above the average grade of the reserve, the Company believes that the variability is primarily attributed to certain zones being drilled with wider spacing. Centerra has commenced an infill and grade control drilling program in the second quarter of 2025. This initiative is expected to improve geological and mine plan confidence and will be integrated into the upcoming Mount Milligan PFS, contributing to a mine plan with greater visibility on grades moving forward. The Company is updating 2025 gold production guidance at Mount Milligan to 145,000 to 165,000 ounces, from 165,000 to 185,000 ounces previously, to recalibrate for the adjustment in grades while ensuring strategic priorities are maintained. The Company is reaffirming its 2025 copper production guidance range of 50 to 60 million pounds of copper. Gold sales were 33,727 ounces and copper sales were 12.1 million pounds in the second quarter. Both gold and copper production and sales are expected to be weighted towards the second half of the year.

 

Gold production costs in the second quarter 2025 were $1,356 per ounce. AISC on a by-product basisNG was $1,286 per ounce, 10% higher than last quarter due to increased sustaining capital expenditures and lower ounces sold during the quarter. Centerra has increased its guidance ranges for 2025 gold production costs and AISC on a by-product basisNG at Mount Milligan to reflect updated production guidance. Gold production costs for the year are expected to be between $1,350 and $1,450 per ounce, revised from between $1,075 and $1,175 per ounce previously. AISC on a by-product basisNG for the year are expected to be between $1,350 and $1,450 per ounce, revised from between $1,100 and $1,200 per ounce previously.

 

In the second quarter 2025, sustaining capital expendituresNG at Mount Milligan were $14.7 million, focused on the tailings storage facility dam construction and capitalized exploration. While full year PP&E and total capital expendituresNG at Mount Milligan remains unchanged at $75 to $90 million, the allocation between sustaining and non-sustaining capital has been revised. Sustaining capital expendituresNG are now expected to be $60 to 70 million, down from $65 to $75 million previously, with a corresponding increase in non-sustaining capital expendituresNG to $15 to $20 million, up from $10 to $15 million previously, reflecting project priorities and timing adjustments.

 

In the second quarter of 2025, Mount Milligan generated $57.2 million of cash flow from mine operations and free cash flowNG of $42.8 million.

 

At Mount Milligan, work on the PFS to evaluate the substantial mineral resources to unlock additional value beyond its current mine life is on track to be completed in the third quarter of 2025. The Company is optimistic that it can extend the current mine life beyond 2036, which is based on the available space in the existing TSF. Centerra is progressing with the engineering solution for additional tailings capacity. It is also expected that the PFS will incorporate an increase of annual mill throughput in the range of 10% through ball mill motor upgrades at a modest overall capital expenditure, which may also provide the benefit of improved overall metal recovery.

 

Öksüt

 

Öksüt produced 28,253 ounces of gold in the second quarter of 2025. Production in the quarter was better than planned due to higher grades resulting from mine sequencing. The Company expects to access higher grade areas of the mine in the second half of 2025. During the quarter, mining activities were focused on phase 5 and phase 6 of the Keltepe pit and in phase 2 of the Güneytepe pit. A total of 4.6 million tonnes of ore and waste were mined in the quarter and 1.2 million tonnes were stacked at an average grade of 0.90 g/t. Centerra reaffirms Öksüt’s 2025 production guidance of 105,000 to 125,000 ounces, which is expected to be weighted towards the second half of the year.

 

At Öksüt, gold production costs and AISC on a by-product basisNG for the second quarter 2025 were $1,250 per ounce and $1,755 per ounce, respectively. These costs were higher compared to last quarter primarily due to a higher royalty expense per ounce due to elevated gold prices. Öksüt’s 2025 gold production costs and AISC on a by-product basisNG guidance ranges have been revised to reflect both higher royalty costs due to higher gold prices, and an updated royalty structure that was approved by the Turkish parliament in July 2025. Full year gold production costs at Öksüt are now expected to be $1,200 to $1,300 per ounce, up from $1,100 to $1,200 per ounce previously. 2025 AISC on a by-product basisNG are now expected to be $1,675 to $1,775 per ounce, up from $1,475 to $1,575 per ounce previously.

 

In the second quarter 2025, sustaining capital expenditures at Öksüt were $10.6 million, focused on capitalized stripping, heap leach pad expansion and the water treatment plant.

 

In the second quarter 2025, the Company made an annual royalty payment of $37.9 million and tax payments of $46.2 million to the Turkish government. As a result, Öksüt used $17.6 million of cash in mine operations and had a negative free cash flowNG of $28.2 million in the quarter. Nonetheless, cash flow from operations at Öksüt before statutory payments for tax and royalty increased by over 32% in this quarter compared to last quarter.

 

Molybdenum Business Unit

 

In the second quarter of 2025, as planned during the restart of Thompson Creek, the MBU used $1.1 million of cash in operations and recorded free cash flow deficitNG of $26.9 million, reflecting capital spending that positions the business for positive future cash flows.

 

Thompson Creek Mine

 

The restart of Thompson Creek is advancing, with approximately 20% of the total capital investment complete. In the second quarter of 2025, non-sustaining capital expendituresNG were $26.5 million. Since the restart decision, non-sustaining capital expendituresNG have totaled $81.9 million. The 2025 guidance for additions to PP&E, all of which are non-sustaining capitalNG is unchanged at $130 to $145 million. The project remains in line with the total initial capital expendituresNG estimate of $397 million as outlined in the feasibility study and is on track for first production in the second half of 2027

 

Langeloth

In the second quarter of 2025, the Langeloth Metallurgical Facility roasted and sold 3.2 million pounds and 3.1 million pounds of molybdenum, respectively. In the quarter, Langeloth delivered a positive adjusted EBITDANG of $0.2 million and generated $0.8 million in cash flow from operations.

 

About Centerra

Centerra Gold Inc. is a Canadian-based mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.

Posted August 7, 2025

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