SOURCE: Centamin plc

August 10, 2016 02:00 ET

Centamin plc Results for the Second Quarter and Half Year Ended 30 June 2016 and Interim Dividend Announcement

PERTH, AUSTRALIA--(Marketwired - Aug 10, 2016) - Centamin PLC (LSE: CEY) (TSX: CEE)

LSE: CEY, TSX: CEE

For immediate release 10 August 2016

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

Centamin plc Results for the Second Quarter and Half Year Ended 30 June 2016 and Interim Dividend Announcement

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 2016.

Q2 2016 Operational Highlights1,2

  • Gold production of 140,306 ounces was a 12% increase on Q1 2016 and 30% higher than Q2 2015.
  • Cash cost of production of US$461 per ounce and all-in sustaining costs (AISC) of US$669 per ounce.
  • 2016 annual production guidance of between 520,000 and 540,000 (previously 470,000) ounces at a cash cost of production of between US$530 and US$550 (previously US$680) per ounce and AISC of between US$720 and US$750 (previously US$900) per ounce.
  • Record process plant throughput of 2.93 million tonnes (Mt); a 2% increase on the previous quarter.
  • Recovery of 89.5%, up by 1% over the first quarter, reflects on-going optimisation of the process plant.
  • The underground mine delivered 256kt of ore, (a 9% decrease on Q1 2016), at a grade of 9.3g/t (up 19% on Q1 2016).
  • Continued positive results from underground exploration drilling at Sukari, with an updated resource and reserve estimate scheduled during the second half of the year.
  • Development of a new exploration decline commenced in August 2016 within the north-eastern Cleopatra zone of Sukari Hill, aimed at testing the potential for further reserve growth and additional underground production of up to 1Mt per annum. Initial project expenditure is expected to be US$11.5 million.
  • Exploration continues to support the potential for near-surface and high-grade economic mineralisation in Burkina Faso. Encouraging results from the exploration programme in Côte d'Ivoire.

For the full release please follow the following link:

http://www.rns-pdf.londonstockexchange.com/rns/7298G_1-2016-8-9.pdf

This information is provided by RNS
The company news service from the London Stock Exchange

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