Centerra Gold Inc.
Centerra Gold operates the Oksut open-pit heap-leach gold mine in Turkiye and the Mount Milligan open-pit gold-copper mine in British Columbia, Canada, plus the Langeloth metallurgical processing facility (Pennsylvania) that toll-processes molybdenum concentrate. 2026 guidance was raised mid-year on stronger Oksut production, and the company has expanded its 2026 share buyback authorization to $200 million while continuing a self-funded growth strategy.
Notable vs. Peers
- Financials score of 8.1/10 is stronger than the peer average of 6.4/10.
- Trading within 7% of its 52-week high — strong recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · The Oksut gold project (Turkiye) received all required regulatory permits in January 2018. Exact day not confirmed; recorded reached-but-undated. · Source
- Reached — date not disclosed · Centerra's Board approved construction and development of the Oksut project in February 2018. Exact day within February 2018 not confirmed; recorded reached-but-undated. · Source
- Reached — date not disclosed · Construction of the Oksut project began in March 2018, immediately following the February 2018 Board construction decision and January 2018 permits. Exact day within March 2018 not confirmed; recorded reached-but-undated. · Source
- Jan 2020 · First gold pour at the Oksut mine (commercial production reached 31 May 2020). · Source
- Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: Centerra operates Mount Milligan (British Columbia, gold-copper) and Öksüt (Turkiye, gold) as two independently-developed producing mines, plus a legacy history at Kumtor (Kyrgyzstan) which was expropriated by the Kyrgyz government in 2021 and is no longer part of the producing portfolio. Q2 2026 results (released 2026-07-28) reported consolidated gold production of 70,727 oz (Mount Milligan 38,175 oz plus 13.1M lbs copper, Öksüt 32,552 oz), with 2026 guidance raised to 260,000-290,000 oz on Öksüt's outperformance. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
Shown as separate totals, not summed together: these projects' studies used different discount rates, so a single combined NPV would not be a real number.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
President and Chief Executive Officer of Centerra Gold since 1 May 2023, leading the company's Mount Milligan (Canada) and Oksut (Turkiye) operations. Professional Engineer (Ontario) with over 25 years of experience in mining, engineering and construction; B.A.Sc. and M.A.Sc. (Civil Engineering) and MBA (Rotman School of Management), University of Toronto. Immediately before Centerra, 15 years at Kinross Gold Corporation (already tracked in this DB, K), most recently as Executive Vice President and Chief Technical Officer (from Jan 2017). Earlier career: consultant at Bain & Company and geotechnical engineer at Golder Associates.
Executive Vice President and Chief Financial Officer of Centerra Gold, promoted to the role effective 8 Apr 2024 after joining the company in May 2022 as Vice President, Finance. Over 15 years of financial-management experience in the mining industry. Career: started at KPMG in Toronto (2005); 5 years in operations finance at Inmet Mining Corporation; CFO of Primero Mining Corporation (2017-2018, through its friendly acquisition by First Majestic Silver Corp., already tracked in this DB, AG); CFO of Electra Battery Materials Corporation (2018-2022), immediately before Centerra.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Centerra is 92% institutionally owned and we can see the whole register -- twenty named holders as at 31 March 2026 -- which makes this a rare case of checking thoroughly and finding nothing rather than not being able to look. Every one of those twenty is index money, a mainstream mutual fund, a value generalist or a market maker: BlackRock, Vanguard twice, State Street, Geode, Capital World, Harris Associates, Ariel, MFS, William Blair, Millennium. Not one is a precious-metals specialist. The company also no longer has a strategic shareholder: Kyrgyzaltyn's 26.4% block was bought back and cancelled outright in July 2022 when Centerra exited Kyrgyzstan.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.