Centerra Gold Inc. Investor update

Hi, everyone, and welcome to Centerra Gold's investor webinar. If you received the invitation and you're joining us today, we've most likely previously met during a conference, roadshow, or a one-on-one meeting. If you're new to Centerra and haven't met with us before, welcome. Today, we want to give everyone an opportunity to hear our strategy directly from our CEO, Paul Tomory, and our CFO, Ryan Snyder, and provide an opportunity for you to ask questions directly to the management team. We'll start with a short presentation followed by a Q&A session. We've compiled the questions we've received ahead of this call, but there's also an opportunity for you to submit questions today. If you look to the bottom of your screen, you can submit questions using the Q&A box, and we'll do our best to answer all of the questions during the time here today.

If we can't get to your question, we will follow up directly after the call. Today's presentation may include forward-looking statements. For information, please refer to the cautionary statement in our presentation and the risk factors outlined in our AIF. I'd now like to pass the call over to Paul, who will walk us through Centerra's self-funded organic growth strategy and an overview of Q2 and what you can expect for the second half of the year.

Paul? Thank you, Lisa, and it's great to see such a robust turnout on this call and good to be in front of you to talk about the company.

The company in a snapshot. We're a mid-tier gold mining company, though we do have strong exposure to copper and to a lesser extent, molybdenum. Our portfolio is principally North America based. What I'll do is I'll give a quick overview of the portfolio. We have two operating assets. Our flagship mine is the Mount Milligan copper gold mine in Northern B.C. Then we have Öksüt mine in Türkiye, which is a gold producer, strong cash flow generator, and a reliable operation. We have a very deep development pipeline. We are currently building the new mine in Nevada called Goldfield. It will be a heap leach operation of a similar scale to our mine in Türkiye.

We are advancing studies on the very large copper gold deposit in British Columbia called Kemess. It will be almost a twin to Mount Milligan. Two very long life copper gold mines in British Columbia. Lastly, we are advancing our molybdenum strategy. Our molybdenum assets are comprised of the Thompson Creek Mine in Idaho. We are well on the way to reopening that mine. Also in the United States is the Langeloth Metallurgical Facility, which is a molybdenum roaster, a molybdenum processing plant located just outside Pittsburgh. Together, those two comprise US Moly, and we treat those as a business unit within the company. I'll talk a little bit about molybdenum here. It's a metal used to alloy steel, and it's currently in very high demand. There's a shortage of supply and prices have really traded up.

We see a real differential opportunity here in a strategic critical metal. Nevertheless, the bulk of our production is gold, followed by copper. Right now, molybdenum represents 10%-15% of our complete company value. We have a very strong balance sheet. We finished the last quarter at over $450 million of cash. Added to our line of credit, over CAD 1 billion of liquidity. We have a strong operationally focused management team.