Centamin PLC Q3 Preliminary Production Results (8222T)
09 Octubre 2014 - 1:00AM
UK Regulatory
TIDMCEY
RNS Number : 8222T
Centamin PLC
09 October 2014
For immediate 09 October 2014
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q3 Preliminary Production Results
Centamin is pleased to announce preliminary production results
from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended
30 September 2014. Total gold production for the quarter was 93,624
ounces, a 15% increase on Q2 2014 and 10% higher than the
corresponding quarter in 2013. The expanded plant achieved
nameplate capacity of 10Mtpa during the quarter, with the potential
for throughput rates to increase further during subsequent quarters
as the new plant is fully optimised. Underground and open pit
average grades increased over the third quarter and are expected to
improve further during the fourth quarter, driving increased gold
production levels. Centamin therefore maintains its full year
forecast of 420,000 ounces gold.
Open pit total material movement increased 16% on the previous
quarter, to 11,406kt with the current daily ammonium nitrate ("AN")
issue of 25 tonnes per day. Open pit ore production increased by
50% on Q2 2014 to 2,693kt. The run of mine ore stockpile balance
increased by 14kt to 1,152kt at the end of the period. Discussions
continue with government departments in relation to increasing the
daily usage of AN in order to increase open pit mining rates to the
required level to feed the expanded plant. Centamin believes
approval is in its final stages.
Record quarterly throughput at the process plant was 2,388kt, a
22% increase on Q2 2014, reflecting the ramp-up of ore treatment
through the new Stage 4 plant circuit. Commissioning activities
proceeded well and the expanded 10 million tonne per annum
nameplate capacity was consistently achieved during the period.
The underground operation delivered a record 248kt of ore, up 8%
on Q2 2014 and in line with planned mining rates. Grades from
development ore improved over the previous quarter, and production
increased from higher grade stoping blocks.
Q3 2014 Q2 2014 Q3 2013
(estimate)
---------------------------- ------------ -------- --------
Total Material Movement
- Open Pit (kt) 11,406 9,861 10,506
---------------------------- ------------ -------- --------
Open Pit Ore Production
(kt) 2,693 1,795 3,409
---------------------------- ------------ -------- --------
Underground Ore Production
(kt) 248 230 152
---------------------------- ------------ -------- --------
Process Plant Throughput
(kt) 2,388 1,957 1,463
---------------------------- ------------ -------- --------
Process Plant Productivity
(tph) 1,252 1,230 715
---------------------------- ------------ -------- --------
Gold Produced (oz) 93,624 81,281 84,757
---------------------------- ------------ -------- --------
Josef El-Raghy, Chairman of Centamin, commented:
"The ramp-up in productivity from the process plant continued
during the quarter, and achieved the expanded 10Mtpa nameplate
capacity in September with a record 882,443 tonnes milled, in line
with our expectation. Underground mining rates remain strong and
ore grades have returned to expected levels. With scope for further
increases in plant throughput during the coming quarters, and with
average grades set to further increase in Q4, we maintain our full
year production guidance and continue to look forward to delivering
Sukari's long-term target of 450,000-500,000 ounces per annum from
2015 onwards."
For more information please contact:
Centamin plc Buchanan
Josef El-Raghy, Chairman Bobby Morse, Gordon
Andy Davidson, Head of Business Poole
Development and Investor Relations + 44 (0) 20 7466
(andy.davidson@centamin.je) +44 5000
(0) 1534 828708
This information is provided by RNS
The company news service from the London Stock Exchange
END
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