Q3 2017 Preliminary Production Results

RNS Number : 0015T

Centamin PLC

09 October 2017

 

For immediate release		9 October 2017

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

(LSE:CEY, TSX:CEE)

Q3 2017 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 September 2017 from its Sukari Gold Mine ("Sukari") in Egypt.

Record total gold production for the quarter of 156,533 ounces, a 26% increase on the previous quarter and 5% higher than Q3 2016, the previous record quarter for Sukari. The Company maintains its 2017 production guidance of 540,000 ounces.

Quarterly throughput rate of 2,996kt at the process plant, a 2% decrease on the previous quarter.

The open pit achieved record levels of both total material movement and ore production. Open pit total material movement (ore plus waste) increased by 6% on the previous quarter to 18,602kt. Open pit ore production increased by 58% to 4,825kt at an average mined grade of 0.76g/t. This included 1,229kt at 0.29g/t delivered to the dump leach pads. The average head grade to the plant from the open pit was 1.11g/t.

The run of mine ore stockpile balance increased by 899kt to 1,436kt at the end of the period.

The underground operation delivered 302kt of ore at an average mined grade of 7.98g/t. Ore from stoping was 189kt at 8.21 g/t and ore from development was 113kt at 7.57g/t.

	Q3 2017 (preliminary)	Q2 2017	Q3 2016
Open Pit -Total Material Movement (kt)	18,602	17,493	16,191
Open Pit - Ore Production (kt)	4,825	3,060	2,936
Underground Ore Production (kt)	302	293	255
Process Plant Throughput (kt)	2,996	3,056	2,806
Process Plant Productivity (tph)	1,430	1,499	1,437
Gold Produced (oz)	156,533	124,641	148,674

Andrew Pardey, CEO of Centamin, commented:

"All sections of the mine continued to perform well during the third quarter, contributing to record production.  The higher grade zones of the open pit, exposed in the later part of Q2, continued to be mined during Q3 2017, leading to an as planned increase in head grade to the plant from the open pit. Mining of higher grades from the open pit is expected to continue for the remainder of 2017.  Underground mining continued to perform well, with strong mining rates and grades achieved from both stoping and development activities.  With the process plant also continuing to deliver high levels of productivity, we remain on course to meet our full year 2017 production guidance of 540,000 ounces at a cash operating cost of US$580 per ounce and all-in-sustaining cost (AISC) of US$790 per ounce."

Centamin is hosting an analyst visit to Sukari on Wednesday 11 October 2017.

For more information, please contact:

Centamin plc Andrew Pardey, CEO Jonathan Stephens, Chief Development Officer ([e-mail])  [phone]

Buchanan Bobby Morse Chris Judd Patrick Hanrahan + 44 (0) 20 7466 5000

This announcement contains ongoing regulated information.

LEI: 213800PDI9G7OUKLPV84

Company No: 109180

 

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