Centerra Gold Inc. (NYSE:CGAU) Q3 2023 Earnings Conference Call November 1, 2023 9:00 AM ET

Company Participants

Lisa Wilkinson - Vice President, Investor Relations and Corporate Communications

Paul Tomory - President and Chief Executive Officer

Paul Chawrun - Executive Vice President and Chief Operating Officer

Darren Millman - Executive Vice President and Chief Financial Officer

Conference Call Participants

Anita Soni - CIBC World Markets

Mike Parkin - National Bank

Brian MacArthur - Raymond James

Operator

Thank you for standing by. This is the conference operator. Welcome to the Centerra Gold Third Quarter 2023 Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Lisa Wilkinson, Vice President, Investor Relations and Corporate Communications with Centerra Gold. Please go ahead.

Lisa Wilkinson

Thank you, operator and good morning, everyone. Welcome to Centerra Gold's third quarter 2023 results conference call.

Joining me on the call today are Paul Tomory, President and Chief Executive Officer; Paul Chawrun, Chief Operating Officer; and Darren Millman, Chief Financial Officer.

Our release yesterday details our third quarter 2023 results. This should be read in conjunction with our MD&A and financial statements, both of which can be found on SEDAR, EDGAR and our website. All figures are in US dollars unless otherwise noted. Presentation slides are available on Centerra Gold's website to accompany this webcast. Following the prepared remarks we will open the call for questions.

Before we begin, I would like to caution everyone that certain statements made today may be forward-looking and are subject to risks, which may cause our actual results to differ from those expressed or implied. Please refer to the cautionary statements included in the presentation, as well as the risk factors set out in our annual information form.

Also, certain of the measures we will discuss are non-GAAP measures. Please refer to the description of non-GAAP measures in our news release and MD&A issued yesterday.

I will now turn the call over to Paul Tomory.

Paul Tomory

Thank you, Lisa, and good morning, everyone. Centerra had a very strong third quarter with significant free cash flow generation, driving a substantial increase to our cash balance outperformed our expectations, producing almost 87,000 ounces in the quarter. Our 2023 consolidated gold production guidance remains on track between 340,000 and 360,000 ounces, and we expect to continue to generate significant free cash flow in the fourth quarter further increasing our cash balance by the end of the year. Paul Chawrun will speak to our operations in more detail a little later, and he'll speak to the adjustments to the site level production guides of both Oksut and Mount Milligan.