SOURCE: Centamin plc

July 09, 2015 02:00 ET

Centamin PLC Announces Q2 2015 Preliminary Production Results

PERTH, AUSTRALIA--(Marketwired - Jul 9, 2015) - Centamin PLC (LSE: CEY) (TSX: CEE)

For immediate release   9th July 2015

Centamin plc ("Centamin" or "the Company")
(LSE: CEY; TSX: CEE)

Q2 2015 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 June 2015 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 107,781 ounces, a 33% increase on Q2 2014 and in line with production in the first quarter 2015. Full year production is expected to be between 430,000 and 440,000 ounces.

Quarterly throughput at the process plant was 2,667kt, an 8% increase on Q1 2015, as finer material was fed to the milling circuit due to improved blasting and greater availability of the secondary crushers.

Open pit total material movement decreased 15% on the previous quarter to 13,671kt. Open pit ore production decreased on Q1 2015 by 32% to 1,751kt, which is in line with the overall mine plan. The run of mine ore stockpile balance decreased by 878kt to 1326kt at the end of the period.

The underground operation delivered 282kt of ore, a 7% increase on Q1 2015, with average grades remaining in line with the mining plan.

  Q2 2015 (preliminary) Q1 2015 Q2 2014
Open Pit - Total Material Movement (kt) 13,671 15,996 9,861
Open Pit - Ore Production (kt) 1,751 2,562 1,795
Underground Ore Production (kt) 282 264 230
Process Plant Throughput (kt) 2,667 2,478 1,957
Process Plant Productivity (tph) 1,361 1,286 1,230
Gold Produced (oz) 107,781 108,233 81,281

Andrew Pardey, CEO of Centamin, commented:

"Production in the second quarter was comparable with the first quarter, exceeding the level forecast in our Capital Markets Day presentation in May 2015. Plant productivity was above the 10Mtpa nameplate capacity and also exceeded our forecast, with scope for further throughput increases as optimisation continues over the coming quarters. The underground mine also performed slightly ahead of expectation. We continue to expect open pit grades to progressively increase to the reserve average in the second half of the year and quarterly guidance remains as outlined in our recent Capital Markets Day presentation, which would result in full year production of between 430,000 and 440,000 ounces."

For more information please contact:

Centamin plc   Buchanan
Josef El-Raghy, Chairman   Bobby Morse, Gordon Poole
Andrew Pardey, CEO   + 44 (0) 20 7466 5000
Andy Davidson, Head of Investor Relations    
(andy.davidson@centamin.je) +44 (0) 1534 828708    

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