TIDMCEY

RNS Number : 9113P

Centamin Egypt Limited

11 October 2011

 
 Immediate Release   11(th) October 2011

Centamin Egypt Limited ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

3(rd) Quarter Preliminary Production Results

Centamin Egypt Limited is pleased to announce its preliminary production results from its Sukari Gold Project in Egypt for the quarter ended 30 September 2011.

Total gold production for the quarter was 50,539 ounces, a 67% increase from the corresponding quarter last year and a 5% increase on the previous quarter's production. The resultant gold production was underpinned by record quarterly throughput in the Sukari process plant of 964kt (59% higher than the corresponding quarter last year and 13% higher than the previous quarter), as the ramp up to higher production rates progressed post-Stage 3 commissioning.

Open pit and underground production rates returned to budgeted production rates with the resumption of regular delivery and issuing of blasting products for the mine in late July. The open pit delivered greater than 2.2Mt per month material movement for both August and September (compared with 1.2Mt in July) and underground ore production for the quarter increased to 58,000t (up 35% on Q2 2011). With higher material movements from the open pit, the run of mine ore stockpile balance increased by 168kt to 456kt by the end of the quarter.

Centamin remains on track to reach target production of 200-210,000oz at a cash cost of approximately $550/oz in 2011.

 
                         September 2011 
                            Quarter                             September 2010 
                           (estimate)       June 2011 Quarter       Quarter 
--------------------  -------------------  ------------------  --------------- 
 Total Material 
  Movement - Open 
  Pit (kt)                   5,747                3,030             4,916 
--------------------  -------------------  ------------------  --------------- 
 Process Plant 
  Throughput (kt)             964                  850               605 
--------------------  -------------------  ------------------  --------------- 
 Underground Ore 
  Production (kt)              58                  43                 - 
--------------------  -------------------  ------------------  --------------- 
 Gold Produced (oz)          50,539              47,991             30,243 
--------------------  -------------------  ------------------  ---------------

Josef El-Raghy, Chairman of Centamin, said: "The Company is pleased with the return to normal operations, the rapidly improving performance of the process plant and the consistent development and maturing of the underground operation, which positions Sukari well for a strong and consistent performance in the future."

Notice of Results

Centamin will announce its results for the quarter ended 30 September 2011 (Q3) on Monday, 31 October 2011. The announcement will be screened via the Regulatory News Service of the London Stock Exchange at 7am (UK time). A conference call with the Centamin management team will be held at 11am (UK time) on the day of the Q3 results announcement. Dial in details for the conference call will be announced at the time of the Q3 results.

For more information please contact:

 
  Centamin Egypt Limited 
   Josef El-Raghy, 
   Executive Chairman 
   Katharine Sutton, Head 
   of Investor Relations 
   (katharine.sutton@centa   +61 8 9316 2640 or 
   min.com)                  +20 3 5411 259 
 
   Buchanan 
    Bobby Morse 
    Gabriella Clinkard       +44 (0) 20 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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