Centamin PLC Q1 2015 Preliminary Production Results (5507J)
April 08 2015 - 2:00AM
UK Regulatory
TIDMCEY
RNS Number : 5507J
Centamin PLC
08 April 2015
For immediate 8th April 2015
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q1 2015 Preliminary Production Results
Centamin is pleased to announce preliminary production results
for the quarter ended 31 March 2015 from its Sukari Gold Mine
("Sukari") in Egypt.
Total gold production for the quarter was 108,233 ounces, a 46%
increase on Q1 2014 and 16% lower than Q4 2014. Full year 2015
guidance remains at 420,000 ounces.
Quarterly throughput at the process plant was 2,478kt, a 5%
decrease on Q4 2014, as the new SAG mill reline was brought forward
this quarter and fitted with improved design lifters and
grates.
Open pit total material movement increased 16% on the previous
quarter, to 15,996kt. Open pit ore production decreased on Q4 2014
by 38% to 2,562kt and lower average grades mined in the first
quarter as expected. The run of mine ore stockpile balance
increased by 33kt to 2,204kt at the end of the period.
The underground operation delivered 264kt of ore, a 7% decrease
on Q4 2014 with average grades remaining consistent and in line
with the underground mining plan.
Q1 2015 Q4 2014 Q1 2014
(estimate)
---------------------------- ------------ -------- --------
Total Material Movement
- Open Pit (kt) 15,996 13,804 9,749
---------------------------- ------------ -------- --------
Open Pit Ore Production
(kt) 2,562 4,123 2,325
---------------------------- ------------ -------- --------
Underground Ore Production
(kt) 264 284 206
---------------------------- ------------ -------- --------
Process Plant Throughput
(kt) 2,478 2,597 1,486
---------------------------- ------------ -------- --------
Process Plant Productivity
(tph) 1,286 1,330 745
---------------------------- ------------ -------- --------
Gold Produced (oz) 108,233 128,115 74,241
---------------------------- ------------ -------- --------
Andrew Pardey, CEO of Centamin, commented:
"As foreshadowed in previous announcements, a reduction in
quarterly production rates was expected during the first half of
2015 as mining progresses through the upper portions of the next
stage of open pit development. Plant productivity for the quarter
remained at around the 10Mtpa nameplate capacity rate and there
remains scope for further increases in throughput during the coming
quarters as optimisation continues. The operation is well placed to
meet our full year forecast of 420,000 ounces as open pit grades
are scheduled to progressively increase to the reserve average in
the second half of the year, when production is expected to return
to annualised rates exceeding 450,000 ounces."
For more information please contact:
Centamin plc Buchanan
Josef El-Raghy, Chairman Bobby Morse, Gordon
Andrew Pardey, CEO Poole
Andy Davidson, Head of Investor + 44 (0) 20 7466
Relations 5000
(andy.davidson@centamin.je) +44
(0) 1534 828708
This information is provided by RNS
The company news service from the London Stock Exchange
END
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