Centerra Gold Inc

Metal Energy Corp. has closed additional strategic investments by existing shareholders Centerra Gold Inc. and Teck Resources Limited, who exercised top-up rights to maintain their respective 9.9% equity interests. The company issued 550,000 common shares at C$0.89 per share for total gross proceeds of approximately C$490,000, with no warrants issued and no finder's fees paid. Proceeds will be used for general corporate and working capital purposes. The offering remains subject to final approval of the TSX Venture Exchange, and the shares are subject to a statutory hold period of four months and one day.

Azimut Exploration Inc. has closed its previously announced non-brokered private placement for total proceeds of approximately $7 million. The offering consisted of 6,038,647 flow-through shares at $0.828 per share for gross proceeds of $5,000,000, and 3,333,332 hard dollar shares at $0.60 per share for gross proceeds of $2,000,000. Centerra Gold Inc. increased its ownership interest in the company from 9.84% to 12.67%, while Agnico Eagle Mines Limited and CDPQ Sodémex Inc. exercised their contractual rights to acquire common shares. Proceeds will be used to advance the wholly owned Wabamisk and Elmer properties, with the flow-through share proceeds to be renounced as Canadian exploration expenses effective no later than December 31, 2026. The offering remains subject to final approval of the TSX Venture Exchange, and all securities issued are subject to a four-month hold period expiring December 19, 2026.

Centerra Gold Inc. reported second-quarter net income of $72.1 million, or $0.35 per share, up from $68.6 million, or $0.32 per share, a year earlier. Adjusted earnings were $79.3 million, or $0.39 per share. Revenue surged 53.6% to $442.7 million from $288.3 million in the prior-year quarter.

Centerra Gold Inc ranks 44th out of the 50 stocks in the Metals Channel Global Mining Titans Index based on averaged analyst recommendations from major brokerages, according to Metals Channel. The index tracks the top fifty global metals and mining leaders and updates continuously to reflect commodity prices, government policy, and market volatility. Centerra Gold operates in the Precious Metals sector alongside Newmont Corp and Barrick Mining Corp, and its shares were trading up about 4.5% midday Tuesday.

Centerra Gold has amended its revolving credit facility, extending the maturity to July 15, 2030, and increasing the size to US$600 million from US$400 million. The interest rate margin over SOFR now ranges from 1.875% to 3.000%, down from 2.25% to 3.25%, depending on the net leverage ratio. No amounts are currently drawn under the facility, which is led by The Bank of Nova Scotia and National Bank of Canada and backed by a syndicate of international lenders. The expanded facility provides flexibility for general corporate purposes including working capital, investments, potential acquisitions, and capital expenditures.

Centerra Gold has commenced a fully funded drill program at Headwater Gold's Crane Creek Project in western Idaho, marking the first drilling at the site since the 1990s. The program includes approximately 3,000 metres of reverse circulation and core drilling, with planned exploration expenditures of about US$1.7 million toward Centerra's US$2.5 million minimum commitment under the earn-in agreement. Drilling will test shallow historical gold mineralization, explore beneath outcropping gold-bearing veins, and step out along strike from known zones, following recent geophysical work that expanded the target footprint. Historical results include intercepts such as 62.5 metres grading 1.21 grams per tonne gold, including 8.14 grams per tonne over 3.0 metres. The earn-in agreement allows Centerra to earn up to a 70% interest in the project through staged expenditures and technical milestones.