Centamin PLC Q2 Preliminary Production Results (8582I)

TIDMCEY

RNS Number : 8582I

Centamin PLC

09 July 2013

 
 For immediate release   9 July 2013 
 

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

(LSE:CEY, TSX:CEE)

Q2 Preliminary Production Results

Centamin is pleased to announce preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 30 June 2013.

Total gold production for the quarter was a record 93,624 ounces (year to date 180,640 ounces), a 39% increase on the corresponding quarter in 2012 and 8% higher than Q1 2013. Formal guidance for the current year was provided on 14 March 2013 and remains at 320,000 ounces gold at a cash operating cost of US$700 per ounce.

Open pit total material movement increased 4% from Q1 2013 to 11,019kt and open pit ore production increased 39% on Q1 2013 to 2,961kt which led to an increase in the run of mine ore stockpile balance of 432kt to 1,191kt at the end of the period. The underground mine delivered 142kt, up 19% on Q1 2013.

Quarterly throughput at the Sukari process plant was a record 1,418kt, a 12% increase on the prior year period and a 1% increase on Q1 2013; exceeding the nameplate annualised rate of 5 million tonnes for the second successive quarter and primarily driven by continued high levels of productivity and availability of the processing plant.

 
                               Q2 2013 (estimate)   Q1 2013   Q2 2012 
----------------------------  -------------------  --------  -------- 
 Total Material Movement 
  - Open Pit (kt)                    11,020         10,550     6,579 
----------------------------  -------------------  --------  -------- 
 Open Pit Ore Production 
  (kt)                               2,961           2,133     1,816 
----------------------------  -------------------  --------  -------- 
 Underground Ore Production 
  (kt)                                142             119       72 
----------------------------  -------------------  --------  -------- 
 Process Plant Throughput 
  (kt)                               1,418           1,402     1,269 
----------------------------  -------------------  --------  -------- 
 Process Plant Productivity 
  (tph)                               699             689       652 
----------------------------  -------------------  --------  -------- 
 Gold Produced (oz)                  93,624         87,016    67,422 
----------------------------  -------------------  --------  -------- 
 

Josef El-Raghy, Chairman of Centamin, commented:

"The second quarter saw continued improvements in mining and processing productivity at the Sukari operation which, combined with average grades in line with the mine plan, delivered a third successive quarter of record output. With commissioning activities likely to see reduced throughput in Q4 and the benefit of additional Stage 4 throughput to be seen in 2014 our full year guidance of 320,000 ounces remains unchanged."

Notice of Results

Centamin will announce its full Q2 Results at 7am (GMT) on Wednesday 14 August 2013 via the Regulatory News Service of the London Stock Exchange and Marketwire on the Toronto Stock Exchange. A webcast and conference call with the Centamin management team will be held at 9am (GMT) on the day of the Q2 results announcement and a second call will be held at 2pm (GMT) and 9am (EST/NY) for North American analysts and investors Q&A. Details of the webcast and conference call numbers will be announced at the time of the Q2 results.

For more information please contact:

 
 Centamin plc                                   Buchanan 
  Josef El-Raghy, Chairman                       Bobby Morse 
  Andy Davidson, Head of Business Development    Cornelia Browne 
  and Investor Relations                         Gabriella Clinkard 
  ([e-mail])                 + 44 (0) 20 7466 5000 
  [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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