SOURCE: Centamin plc

August 03, 2017 02:00 ET

Centamin plc Results for the Second Quarter and Six Months Ended 30 June 2017

PERTH, AUSTRALIA--(Marketwired - Aug 3, 2017) - Centamin PLC (LSE: CEY) (TSX: CEE)

For immediate release

3 August 2017

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

Centamin plc ("Centamin", the "Group" or "the Company") (LSE: CEY) (TSX: CEE) is pleased to announce its results for the second quarter ended 30 June 2017.

Q2 2017 Operational Highlights (1),(2)

  • Gold production of 124,641 ounces was a 14% increase on Q1 2017 and 11% lower than Q2 2016.
  • Cash cost of production and all-in sustaining costs (AISC) remain well controlled resulting in unit cash cost of production of US$609 per ounce and unit AISC of US$829 per ounce sold.
  • Full year 2017 guidance maintained at 540,000 ounces, with US$580 per ounce cash cost of production and US$790 per ounce AISC.
  • Record quarterly throughput of 3.06 million tonnes from Sukari process plant, an increase of 5% on Q1 2017 and of 4% on Q2 2016 performance.
  • Amun / Ptah underground operations delivered 293kt at a grade of 8.79g/t to the ROM pad with mill feed from underground of 276kt at 7.74g/t during the period.
  • Record open-pit material movement of 17,493 million tonnes. Mining of the east wall cutback was completed during quarter as planned, allowing open-pit mining to move to higher grade sectors.
  • Continued positive results from underground exploration drilling at Sukari at both Amun / Ptah and Cleopatra.
  • Development of the Cleopatra exploration decline, located in the north-east of Sukari Hill, advanced 407 metres. Encouraging initial results from diamond drilling over 5,231 metres.

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