Centamin gold output falls in first quarter as planned, keeps full-year target
The company has said it expects production in the first half of this year to account for just 45% of the annual target
Company
Centamin PLC
TSE:CEE
Centamin PLC's flagship asset is the Sukari Gold Mine, Egypt's largest and first modern gold mine, as well as one of the world's largest producing mines. Since production began in 2009, Sukari has produced over 5 million ounces of gold, and today has a projected mine life of 14 years. Through its large portfolio of exploration assets in Egypt and West Africa, Centamin is advancing an active pipeline of future growth prospects, including the Doropo project in Côte d'Ivoire, and over 3,000km 2 of highly prospective exploration ground in Egypt's Arabian Nubian Shield.
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Centamin posts 25% drop in full-year profit on lower gold sales and higher costs
The mining company produced 415,370 ounces of gold, down 8% from 2020, and reiterated its 2022 output target of 430,000 to 460,000 ounces
Centamin to take over as operator of underground mining at flagship Sukari gold mine
The transition to owner-operator mining is expected to generate long-term annual cost savings of US$19mln (£14mln) on average from 2023 onwards
Centamin production update leaves market cold
City broker Liberum repeated its sell advice on the Egypt-focused gold digger
Centamin expects to produce 500,000 ounces of gold from flagship Sukari mine in 2024
An updated life-of-mine plan for the Sukari gold mine will be given at today's virtual investor presentation
Centamin's interim profits fall on lower gold sales and higher production costs
It plans to pay an interim dividend of 4.0 US cents per share
Centamin to start pre-feasibility study at Doropo project following review of West African exploration portfolio
Centamin will review the third-party development options at Batie West after the project fell short of the gold miner’s investment criteria
Centamin pretax profit jumps 82% on higher gold prices
The average price received for its gold during the year rose 26% to US$1,766 an ounce
Centamin reports lower production as remedial work starts at Sukari
The gold miner had already warned production would be below previous estimates
Centamin portfolio offers significant growth potential, says UBS
The bank also said the firm's flagship Sukari gold mine in Egypt was now set to “deliver significantly better financial results in the future” following proposed operation changes and a life of mine review
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