Q4 Preliminary Production Results

RNS Number : 9425W

Centamin PLC

06 January 2014

 

For immediate release

06 January 2014

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

(LSE:CEY, TSX:CEE)

Q4 Preliminary Production Results

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

Total gold production for the quarter was 91,546 ounces, a 7% increase on the corresponding quarter in 2012 and 8% higher than Q3 2013.  This brings full year production to 356,943 ounces, a 36% increase on 2012 and above guidance of 320,000 ounces. 

Open pit total material movement decreased 8% from Q3 2013 to 9,642kt and open pit ore production decreased 7% on Q3 2013 to 3,161kt. The run of mine ore stockpile balance increased by  219kt to 1,756kt at the end of the period.  The underground mine delivered 174kt of ore, up 15% on Q3 2013.

Quarterly throughput at the Sukari process plant was 1,400kt, a 12% increase on the prior year period and a 4% decrease on Q3 2013, exceeding the nameplate annualised rate of 5 million tonnes for the fourth successive quarter with continued high levels of productivity and availability.

Formal guidance for the current year will be provided during the first quarter.

	Q4 2013 (estimate)	Q3 2013	Q4 2012
Total Material Movement - Open Pit (kt)	9,642	10,506	6,739
Open Pit Ore Production (kt)	3,161	3,409	1,916
Underground Ore Production (kt)	174	152	111
Process Plant Throughput (kt)	1,400	1,463	1,250
Process Plant Productivity (tph)	698	715	686
Gold Produced (oz)	91,546	84,757	85,413

Josef El-Raghy, Chairman of Centamin, commented:

"Consistently high levels of productivity have been achieved at Sukari throughout 2013, with minimal impact from unplanned stoppages or the start of Stage 4 commissioning activities.  Full year production is ahead of guidance, as indicated in the Q3 results, and we look forward to delivering a further successive year of growth in 2014 as the plant expansion drives the continued ramp-up towards our 450-500,000 ounce per annum long-term target.  Despite the weak gold price environment, we again exit the year with a robust financial and operating base on which to continue delivering our growth strategy."

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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