SOURCE: Centamin plc

October 08, 2015 02:00 ET

Centamin plc ("Centamin" or "the Company") Q3 2015 Preliminary Production Results

PERTH, AUSTRALIA--(Marketwired - Oct 8, 2015) - Centamin (LSE: CEY) (TSX: CEE) is pleased to announce preliminary production results for the quarter ended 30 September 2015 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 105,413 ounces, a 13% increase on Q3 2014 and in line with production in the second quarter 2015. Full year production guidance of between 430,000 and 440,000 ounces is maintained.

Quarterly throughput at the process plant was 2,673kt, in line with Q2 2015 and with our previous forecast and again in excess of the 10Mtpa nameplate capacity.

Open pit total material movement increased 5% on the previous quarter to 14,344kt with open pit ore production increasing significantly on Q2 2015 by 26% to 2,204kt. The run of mine ore stockpile balance decreased by 297kt to 1,030kt at the end of the period.

The underground operation delivered 312kt of ore, an 11% increase on Q2 2015.

       
    Q3 2015 (preliminary) Q2 2015 Q3 2014
Open Pit - Total Material Movement (kt) 14,344 13,671 11,406
Open Pit - Ore Production (kt) 2,204 1,751 2,693
Underground Ore Production (kt) 312 282 248
Process Plant Throughput (kt) 2,673 2,667 2,388
Process Plant Productivity (tph) 1,342 1,361 1,252
Gold Produced (oz) 105,413 107,781 93,624

Andrew Pardey, CEO of Centamin, commented:

"Quarterly production was comparable with both the first and second quarters and in line with our forecast for the period. Plant productivity remained above the 10Mtpa nameplate capacity and we continue to expect further throughput increases as optimisation continues over the coming quarters. The open pit and underground mining operations delivered an increase in material movement over the previous quarter and with open pit grades set to increase towards the reserve average in the fourth quarter, production guidance for the full year remains unchanged at between 430,000 and 440,000 ounces."

Contact Information

  • For more information please contact:

    Centamin plc
    Josef El-Raghy
    Chairman
    Andrew Pardey
    CEO
    Andy Davidson
    Head of Investor Relations
    andy.davidson@centamin.je
    +44 (0) 1534 828708

    Buchanan
    Bobby Morse
    Robbie Ceirog-Hughes
    + 44 (0) 20 7466 5000