SOURCE: Centamin plc

January 09, 2017 02:00 ET

Centamin PLC: Q4 2016 Preliminary Production Results, 2017 Production Guidance and Dividend Policy Update

PERTH, AUSTRALIA--(Marketwired - Jan 9, 2017) - Centamin PLC (LSE: CEY) (TSX: CEE)

LSE:CEY, TSX:CEE

For immediate release 9th January 2017

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

Q4 2016 Preliminary Production Results, 2017 Production Guidance and Dividend Policy Update

Centamin announces preliminary production results for the quarter ended 31 December 2016 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 136,787 ounces, an 8% decrease on the previous quarter and a 16% increase on Q4 2015. This brings full year production to 551,036 ounces, a 25% increase on 2015 and above the guidance range of between 520,000 and 540,000 ounces. 

Quarterly throughput at the process plant was 2,948kt, a 5% increase on the previous quarter.

Open pit total material movement (ore plus waste) decreased 2% on the previous quarter to 15,811kt. Open pit ore production decreased by 25% to 2,183kt at an average mined grade of 0.84g/t. The average head grade to the plant from the open pit was 0.85g/t. The run of mine ore stockpile balance decreased by 592kt to 577kt at the end of the period.

The underground operation delivered 228kt of ore, 10% less than the previous quarter, at an average mined grade of 10.43g/t. Ore from stoping was 125kt at 10.01g/t and ore from development was 103kt at 10.94g/t.

      Q4 2016 (preliminary)   Q3 2016   Q4 2015
Open Pit - Total Material Movement (kt)   15,811   16,191   13,754
Open Pit - Ore Production (kt)   2,183   2,936   2,229
Underground Ore Production (kt)   228   255   300
Process Plant Throughput (kt)   2,948   2,806   2,758
Process Plant Productivity (tph)   1,415   1,437   1,345
Gold Produced (oz)   136,787   148,674   117,644

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
+ 44 (0) 20 7466 5000

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