Production Update

RNS Number : 5695L

Centamin PLC

27 December 2018

 

For immediate release		27 December 2018

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

(LSE:CEY, TSX:CEE)

Production Update

Gold production for October and November combined was above 90,000 ounces. While being solid production months, this was slightly below forecast. The December mine plan forecasted higher grade from both the underground and the open pit, which would have balanced the quarterly shortfall. However, lower than expected underground grade delivered in December thus far indicates gold poured for Q4 between 135,000 to 140,000 ounces, resulting in annual production from the Sukari Gold Mine of up to 2% below full year 2018 guidance of 480,000 ounces. Cash cost of production will be towards the top end of the previously guided range of US$625 to US$640 per ounce produced and an all-in-sustaining cost will be approximately US$900 per ounces sold.

Whist the focus remains firmly on sustaining the operational improvements, stringent cost controls and improving gold price means the Company continues to be a cash generative business.

Further operational detail will be included in the preliminary production results for the final quarter, ending 31 December 2018, scheduled for publication on 9 January 2019. The Company will provide 2019 Outlook, including production guidance, and updated Mineral Reserve and Resource estimates for 2018 with the Annual Results in February. 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

For more information, please visit the website www.centamin.com or contact:

Centamin plc Andrew Pardey, Chief Executive Officer Alexandra Carse, Investor Relations [phone] [e-mail]

Buchanan Communications Bobby Morse Chris Judd + 44 (0) 20 7466 5000 [e-mail]

 

END

 

 

UPDEAEAXALEPFFF