TIDMCEY

RNS Number : 9425W

Centamin PLC

06 January 2014

 
 For immediate release   06 January 2014

Centamin plc ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

Q4 Preliminary Production Results

Centamin is pleased to announce preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 31 December 2013.

Total gold production for the quarter was 91,546 ounces, a 7% increase on the corresponding quarter in 2012 and 8% higher than Q3 2013. This brings full year production to 356,943 ounces, a 36% increase on 2012 and above guidance of 320,000 ounces.

Open pit total material movement decreased 8% from Q3 2013 to 9,642kt and open pit ore production decreased 7% on Q3 2013 to 3,161kt. The run of mine ore stockpile balance increased by 219kt to 1,756kt at the end of the period. The underground mine delivered 174kt of ore, up 15% on Q3 2013.

Quarterly throughput at the Sukari process plant was 1,400kt, a 12% increase on the prior year period and a 4% decrease on Q3 2013, exceeding the nameplate annualised rate of 5 million tonnes for the fourth successive quarter with continued high levels of productivity and availability.

Formal guidance for the current year will be provided during the first quarter.

 
                                 Q4 2013     Q3 2013   Q4 2012 
                                (estimate) 
 Total Material Movement 
  - Open Pit (kt)                 9,642      10,506     6,739 
                              ------------  --------  -------- 
 Open Pit Ore Production 
  (kt)                            3,161       3,409     1,916 
                              ------------  --------  -------- 
 Underground Ore Production 
  (kt)                             174         152       111 
                              ------------  --------  -------- 
 Process Plant Throughput 
  (kt)                            1,400       1,463     1,250 
                              ------------  --------  -------- 
 Process Plant Productivity 
  (tph)                            698         715       686 
                              ------------  --------  -------- 
 Gold Produced (oz)              91,546      84,757    85,413 
                              ------------  --------  --------

Josef El-Raghy, Chairman of Centamin, commented:

"Consistently high levels of productivity have been achieved at Sukari throughout 2013, with minimal impact from unplanned stoppages or the start of Stage 4 commissioning activities. Full year production is ahead of guidance, as indicated in the Q3 results, and we look forward to delivering a further successive year of growth in 2014 as the plant expansion drives the continued ramp-up towards our 450-500,000 ounce per annum long-term target. Despite the weak gold price environment, we again exit the year with a robust financial and operating base on which to continue delivering our growth strategy."

For more information please contact:

 
 
   Centamin plc                           Buchanan 
   Josef El-Raghy, Chairman               Bobby Morse, Cornelia 
   Andy Davidson, Head of Business        Browne 
   Development and Investor Relations     Gabriella Clinkard 
   (andy.davidson@centamin.je) +44        + 44 (0) 20 7466 
   (0) 1534 828708                        5000

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQQLBBZFFLBBK

Centamin (LSE:CEY)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024 Haga Click aquí para más Gráficas Centamin.
Centamin (LSE:CEY)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024 Haga Click aquí para más Gráficas Centamin.