Centamin PLC Q1 2016 Preliminary Production Results (4240U)
April 07 2016 - 2:00AM
UK Regulatory
TIDMCEY
RNS Number : 4240U
Centamin PLC
07 April 2016
For immediate 7th April 2016
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q1 2016 Preliminary Production Results
Centamin is pleased to announce preliminary production results
for the quarter ended 31 March 2016 from its Sukari Gold Mine
("Sukari") in Egypt.
Preliminary total gold production for the quarter was 125,268
ounces, a 6.5% increase on the previous quarter and a 15.7%
increase on Q1 2015. Full year production guidance of 470,000
ounces is maintained.
Quarterly throughput at the process plant was 2,876kt, a 4.3%
increase on the previous quarter and above our base case target
rate of 11 million tonnes per annum (Mtpa).
Open pit total material movement increased 10.2% on the previous
quarter to 15,157kt, with open pit ore production increasing by
7.9% to 2,405kt. The run of mine ore stockpile balance decreased by
213kt to 491kt at the end of the period.
The underground operation delivered 281kt of ore, a 6.3%
decrease on the previous quarter but remaining above our forecast
production rate of 1 million tonnes per annum.
Q1 2016 (preliminary) Q4 2015 Q1 2015
---------------------------- ---------------------- -------- --------
Open Pit - Total Material
Movement (kt) 15,157 13,754 15,996
---------------------------- ---------------------- -------- --------
Open Pit - Ore Production
(kt) 2,405 2,229 2,562
---------------------------- ---------------------- -------- --------
Underground Ore Production
(kt) 281 300 264
---------------------------- ---------------------- -------- --------
Process Plant Throughput
(kt) 2,876 2,758 2,478
---------------------------- ---------------------- -------- --------
Process Plant Productivity
(tph) 1,421 1,345 1,286
---------------------------- ---------------------- -------- --------
Gold Produced (oz) 125,268 117,644 108,233
---------------------------- ---------------------- -------- --------
Andrew Pardey, CEO of Centamin, commented:
"These production results reflect a solid start to the year for
Sukari and support our forecast 2016 production of 470,000 ounces
of gold. The processing operation was a highlight and the key
driver of the quarterly increase in output, with throughput rising
above our base case forecast rate of 11Mt per annum. The open pit
delivered an increase in material movement over the previous
quarter and the underground mine continues to deliver production
rates in excess of our base case forecast. With quarterly
production rates expected to remain within the 450,000 to 500,000
ounces per annum range, our full year guidance remains unchanged at
470,000 ounces. Continuing optimisation of the expanded Sukari
processing and mining operations supports the potential for further
productivity increases over the coming quarters."
For more information, please contact:
Centamin plc Buchanan
Josef El-Raghy, Chairman Bobby Morse, Robbie
Andrew Pardey, CEO Ceirog-Hughes
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
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