Q1 Preliminary Production Results

RNS Number : 8426B

Centamin PLC

09 April 2013

 



For immediate release

9 April 2013

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

(LSE:CEY, TSX:CEE)

Q1 Preliminary Production Results

Centamin is pleased to announce preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 31 March 2013.

Total gold production for the quarter was a record 87,016 ounces, a 77% increase on the corresponding quarter in 2012 and a 2% increase on Q4 2012.  Formal guidance for the current year, provided on 14 March 2013, is 320,000 ounces gold at a cash operating cost of US$700 per ounce. 

Open pit total material movement of 10,550kt increased 56% and ore production of 2,133kt was up 11% on Q4 2012. The underground mine delivered 119kt, up 6% on Q4 2012.  The run of mine ore stockpile balance increased by 38kt to 759kt at the end of the period.

Quarterly throughput at the Sukari process plant was a record 1,402kt, a 37% increase on the prior year period and a 12% increase on Q4 2012; exceeding the nameplate annualised rate of 5 million tonnes.  This performance was driven by continued high levels of productivity coupled with a reduced impact from stoppages compared with the previous quarter.

	Q1 2013 (estimate)	Q4 2012	Q1 2012
Total Material Movement - Open Pit (kt)	10,550	6,739	4,819
Open Pit Ore Production (kt)	2,133	1,916	1,003
Underground Ore Production (kt)	119	112	72
Process Plant Throughput (kt)	1,402	1,250	1,020
Process Plant Productivity (tph)	689	686	656
Gold Produced (oz)	87,016	85,413	49,071

Josef El-Raghy, Chairman of Centamin, commented:

"Following on from record 2012 financial results, the team at Sukari have delivered a second successive quarter of record gold production, with further improvements across all areas of the operation.  This marks a solid start to the year and output remains on target to achieve the 2013 guidance of 320,000 ounces.  With the plant running at consistently high levels of productivity, the processing function is well placed to deliver the next step change in throughput from the Stage 4 expansion, which remains on course to complete commissioning by the end of the year."

Notice of Results

Centamin will announce its Q1 Results on Wednesday 15 May 2013. The announcement will be screened via the Regulatory News Service of the London Stock Exchange and via Marketwire on the

Toronto Stock Exchange at 7am (UK time).

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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