2013 Production Guidance Update

RNS Number : 9559Z

Centamin PLC

14 March 2013

 



For immediate release

14 March 2013

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

(LSE:CEY, TSX:CEE)

2013 Production Guidance Update

Centamin is pleased to advise forecast production for the year 2013 from the Sukari Gold Mine of 320,000 ounces gold at a cash operating cost of US$700 per ounce with fuel at international prices   This represents a 22% increase on the production delivered in 2012 and will mark the third successive year of output growth at Sukari on the path towards our long-term target of 450-500,000 ounces per annum from 2015 onwards.

The Stage 4 expansion project has experienced some delays for key items, materials and services.  We now anticipate the bulk of commissioning activities of the expanded plant will commence during the second half of 2013, although there is no change to our expectation that the plant will be fully operational before the end of the year.  Partly as a result of these delays, as well as general cost inflation, our estimate for the total capital cost of Stage 4 is now US$325 million, including contingency, as compared with the previous US$287.6 million, excluding contingency.

We look forward to providing our results for the year ended 31 December 2012 on 27 March.

For more information please contact:

Centamin plc Josef El-Raghy, Chairman Andy Davidson, Head of Business Development and Investor Relations ([e-mail]) [phone]

Buchanan Bobby Morse Cornelia Browne Gabriella Clinkard + 44 (0) 20 7466 5000

 

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