Centamin PLC Q3 2015 Preliminary Production Results (5911B)

TIDMCEY

RNS Number : 5911B

Centamin PLC

08 October 2015

 
 For immediate     8th October 2015 
  release 
 
 

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

(LSE:CEY, TSX:CEE)

Q3 2015 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 September 2015 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 105,413 ounces, a 13% increase on Q3 2014 and in line with production in the second quarter 2015. Full year production guidance of between 430,000 and 440,000 ounces is maintained.

Quarterly throughput at the process plant was 2,673kt, in line with Q2 2015 and with our previous forecast and again in excess of the 10Mtpa nameplate capacity.

Open pit total material movement increased 5% on the previous quarter to 14,344kt with open pit ore production increasing significantly on Q2 2015 by 26% to 2,204kt. The run of mine ore stockpile balance decreased by 297kt to 1,030kt at the end of the period.

The underground operation delivered 312kt of ore, an 11% increase on Q2 2015.

 
                               Q3 2015 (preliminary)   Q2 2015   Q3 2014 
----------------------------  ----------------------  --------  -------- 
 Open Pit - Total Material 
  Movement (kt)                       14,344           13,671    11,406 
----------------------------  ----------------------  --------  -------- 
 Open Pit - Ore Production 
  (kt)                                 2,204            1,751     2,693 
----------------------------  ----------------------  --------  -------- 
 Underground Ore Production 
  (kt)                                  312              282       248 
----------------------------  ----------------------  --------  -------- 
 Process Plant Throughput 
  (kt)                                 2,673            2,667     2,388 
----------------------------  ----------------------  --------  -------- 
 Process Plant Productivity 
  (tph)                                1,342            1,361     1,252 
----------------------------  ----------------------  --------  -------- 
 Gold Produced (oz)                   105,413          107,781   93,624 
----------------------------  ----------------------  --------  -------- 
 

Andrew Pardey, CEO of Centamin, commented:

"Quarterly production was comparable with both the first and second quarters and in line with our forecast for the period. Plant productivity remained above the 10Mtpa nameplate capacity and we continue to expect further throughput increases as optimisation continues over the coming quarters. The open pit and underground mining operations delivered an increase in material movement over the previous quarter and with open pit grades set to increase towards the reserve average in the fourth quarter, production guidance for the full year remains unchanged at between 430,000 and 440,000 ounces."

For more information please contact:

 
 
   Centamin plc                        Buchanan 
   Josef El-Raghy, Chairman            Bobby Morse, Robbie 
   Andrew Pardey, CEO                  Ceirog-Hughes 
   Andy Davidson, Head of Investor     + 44 (0) 20 7466 
   Relations                           5000 
   ([e-mail]) +44 
   (0) 1534 828708 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 08, 2015 02:00 ET (06:00 GMT)