Centamin PLC Q2 2015 Preliminary Production Results (5563S)

TIDMCEY

RNS Number : 5563S

Centamin PLC

09 July 2015

 
 For immediate release     9th July 2015 
 
 

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

(LSE:CEY, TSX:CEE)

Q2 2015 Preliminary Production Results

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

Preliminary total gold production for the quarter was 107,781 ounces, a 33% increase on Q2 2014 and in line with production in the first quarter 2015. Full year production is expected to be between 430,000 and 440,000 ounces.

Quarterly throughput at the process plant was 2,667kt, an 8% increase on Q1 2015, as finer material was fed to the milling circuit due to improved blasting and greater availability of the secondary crushers.

Open pit total material movement decreased 15% on the previous quarter to 13,671kt. Open pit ore production decreased on Q1 2015 by 32% to 1,751kt, which is in line with the overall mine plan. The run of mine ore stockpile balance decreased by 878kt to 1326kt at the end of the period.

The underground operation delivered 282kt of ore, a 7% increase on Q1 2015, with average grades remaining in line with the mining plan.

 
                               Q2 2015 (preliminary)   Q1 2015   Q2 2014 
----------------------------  ----------------------  --------  -------- 
 Open Pit - Total Material 
  Movement (kt)                       13,671           15,996     9,861 
----------------------------  ----------------------  --------  -------- 
 Open Pit - Ore Production 
  (kt)                                 1,751            2,562     1,795 
----------------------------  ----------------------  --------  -------- 
 Underground Ore Production 
  (kt)                                  282              264       230 
----------------------------  ----------------------  --------  -------- 
 Process Plant Throughput 
  (kt)                                 2,667            2,478     1,957 
----------------------------  ----------------------  --------  -------- 
 Process Plant Productivity 
  (tph)                                1,361            1,286     1,230 
----------------------------  ----------------------  --------  -------- 
 Gold Produced (oz)                   107,781          108,233   81,281 
----------------------------  ----------------------  --------  -------- 
 

Andrew Pardey, CEO of Centamin, commented:

"Production in the second quarter was comparable with the first quarter, exceeding the level forecast in our Capital Markets Day presentation in May 2015. Plant productivity was above the 10Mtpa nameplate capacity and also exceeded our forecast, with scope for further throughput increases as optimisation continues over the coming quarters. The underground mine also performed slightly ahead of expectation. We continue to expect open pit grades to progressively increase to the reserve average in the second half of the year and quarterly guidance remains as outlined in our recent Capital Markets Day presentation, which would result in full year production of between 430,000 and 440,000 ounces."

For more information please contact:

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

This information is provided by RNS

The company news service from the London Stock Exchange

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