PERTH, AUSTRALIA--(Marketwired - Apr 10, 2017) - Centamin PLC (LSE: CEY) (TSX: CEE)
|For immediate release
||10th April 2017
Centamin plc ("Centamin" or "the Company")
(LSE: CEY; TSX:CEE)
Q1 2017 Preliminary Production Results
Centamin is pleased to announce preliminary production results for the quarter ended 31 March 2017 from its Sukari Gold Mine ("Sukari") in Egypt.
Preliminary total gold production for the quarter was 109,187 ounces, a 20% decrease on the previous quarter and 13% lower than Q1 2016. The reduction in quarterly production is in line with Centamin's forecast and the Company maintains its 2017 guidance of 540,000 ounces at a cash operating cost of US$580 per ounce and all-in-sustaining cost (AISC) of US$790 per ounce.
Quarterly throughput at the process plant was 2,908kt, a 1% decrease on the previous quarter and in line with our 2017 annual forecast of 11.75 million tonnes (Mt) milled.
Open pit total material movement (ore plus waste) increased 8% on the previous quarter to 17,128kt. Open pit ore production increased by 14% to 2,478kt at an average mined grade of 0.47g/t. The average head grade to the plant from the open pit was 0.58g/t. This was below both the reserve grade and our forecast average grade for the full year 2017, as the open pit continued to develop a low-grade cutback in the east wall of the pit in line with the mine plan.
The run of mine ore stockpile balance decreased by 191kt to 386kt at the end of the period.
The underground operation delivered 252kt of ore at an average mined grade of 7.44g/t. On an annualised basis, the productivity rate was in line with our 2017 forecast of 1 million tonnes at 7.26g/t. Ore from stoping was 153kt at 6.9g/t and ore from development was 99kt at 8.3g/t.
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For more information, please contact:
|Josef El-Raghy, Chairman
|Andrew Pardey, CEO
|Andy Davidson, Head of Investor Relations
|(email@example.com) +44 (0) 1534 828708
||+ 44 (0) 20 7466 5000
This announcement contains ongoing regulated information and inside information for the purposes of Article 7 of EU Regulation 596/2014.
Company No: 109180
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