Centerra Gold Inc. (NYSE:CGAU) Q3 2022 Earnings Call Transcript

Operator: Thank you. Our next question comes from the line of Dalton Baretto with Canaccord. Please proceed with your question.

Dalton Baretto: Thanks and good morning guys. I wanted to just ask about strategy and how you are potential new CEO? But I mean, when I look at the pipeline, you have got combat, which is a high copper component, as I talk about the Moly is that €“ all of that seems completely off-strategy to me. And I am just wondering, where do you Paul Wright, see this company going forward? And what kind of attributes and background are you looking for as new CEO? And will you be prepared to pull the trigger on any strategic mandates ahead of having someone in the chair? Thank you.

Paul Wright: Yes. I mean there is a number of different questions, not all of which I think I am probably the appropriate person to answer. I mean I am an interim CEO, the process to identify and secure a new CEO is probably a four-month to six-month period of time. My focus is really on stabilizing the operation and ensuring that we have an appropriate platform that’s on strategy in terms of allowing the new CEO to grow a very successful business. And I certainly see that as the opportunity as it relates to any type of possible transaction. I mean I can’t say that that’s a high priority at this stage, but nor would I completely preclude it, because you are never going to determine when a possibility may turn up. That might make some €“ a lot of sense. But I think it’s highly unlikely given that as I have said, I am an interim CEO.

Dalton Baretto: Okay. Thank you for that color, Paul. And then maybe switching to the operation, particularly permit on Öksüt, so, presumably, the EIA review is going to take a little bit of time into the New Year. The operating permit expires in January. Even if you get the enhanced grazing permits ahead of time, can you actually start doing anything if your operating permit expired, and does your operating permit remain contingent on the EIA, are they?

Paul Wright: The operating permits or the renewal of the operating permits is a separate item. And we would anticipate that to be obtained in advance of the existing operating permit expiring. And with that at hand and the pasture land, we would continue with our normal mining operations limited to sort of mining prior to the granting of the EIA, and the ability to restore.

Dalton Baretto: Right, that’s all for me. Thank you.

Operator: Thank you. Our next question comes from the line of Brian MacArthur with Raymond James. Please proceed with your question.

Brian MacArthur: Hi. Good morning and thank you for taking my question. I would just like to follow-up a little bit more in the Moly strategy. And a couple of questions following up on Dalton, would you go ahead and proceed with that a new CEO on that strategy if you decided to reopen the Thompson Creek Mine? And I guess my second question is, what needs to be done there? And my third question is, I think Sojitz, but one time had a partnership and had claim on the ore or whatever. Can you just go through with a little more color about why it would be doing that, as opposed to, historically sort of talked about selling that operation €“ those operations.