Centamin PLC Q2 2016 Preliminary Production Results (4691D)
July 07 2016 - 2:00AM
UK Regulatory
TIDMCEY
RNS Number : 4691D
Centamin PLC
07 July 2016
For immediate 7th July 2016
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q2 2016 Preliminary Production Results
Centamin is pleased to announce preliminary production results
for the quarter ended 30 June 2016 from its Sukari Gold Mine
("Sukari") in Egypt.
Preliminary total gold production for the quarter was 140,306
ounces, a 12% increase on the previous quarter and a 30% increase
on Q2 2015.
Quarterly throughput at the process plant was 2,929kt, a 2%
increase on the previous quarter. Annualised throughput exceeds our
base case target rate of 11 million tonnes per annum (Mtpa).
Open pit total material movement (ore + waste) decreased 1% on
the previous quarter to 15,080kt. Open pit ore production increased
by 42% to 3,425kt at an average mined grade of 0.90g/t of gold. The
average head grade to the plant from the open pit was 0.99g/t. The
run of mine ore stockpile balance increased by 521kt to 1,012kt at
the end of the period.
The underground operation delivered 256kt of ore, a 9% reduction
on the previous quarter, at an average mined grade of 9.3g/t.
Productivity remained above our forecast rate of 1 million tonnes
per annum at 6g/t. Ore from stoping was 143kt at 8.5g/t, comparable
with the previous quarter (145kt at 9.2g/t). Ore from development
was 113kt at 10.3g/t.
Q2 2016 (preliminary) Q1 2016 Q2 2015
---------------------------- ---------------------- -------- --------
Open Pit - Total Material
Movement (kt) 15,080 15,157 13,671
---------------------------- ---------------------- -------- --------
Open Pit - Ore Production
(kt) 3,425 2,405 1,751
---------------------------- ---------------------- -------- --------
Underground Ore Production
(kt) 256 281 282
---------------------------- ---------------------- -------- --------
Process Plant Throughput
(kt) 2,929 2,876 2,667
---------------------------- ---------------------- -------- --------
Process Plant Productivity
(tph) 1,432 1,421 1,361
---------------------------- ---------------------- -------- --------
Gold Produced (oz) 140,306 125,268 107,781
---------------------------- ---------------------- -------- --------
Andrew Pardey, CEO of Centamin, commented:
"The Sukari operation has continued to build on the strong start
to the year, with total first half production of 265,574 ounces of
gold. The continued optimisation of the processing operation saw
plant throughput increase further during the second quarter,
remaining above our base case forecast rate of 11Mt per annum. The
open pit delivered an increase ore material movement and the
underground mine continued to deliver both tonnes and grade in
excess of our base case forecast. Full year 2016 production and
cost guidance will be updated with the Q2 financial report."
For more information, please contact:
Centamin plc Buchanan
Josef El-Raghy, Chairman Bobby Morse
Andrew Pardey, CEO Chris Judd
Andy Davidson, Head of Investor Patrick Hanrahan
Relations + 44 (0) 20 7466
(andy.davidson@centamin.je) +44 5000
(0) 1534 828708
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCRFMFTMBMMBAF
(END) Dow Jones Newswires
July 07, 2016 02:00 ET (06:00 GMT)
Centamin (LSE:CEY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Centamin (LSE:CEY)
Historical Stock Chart
From Apr 2023 to Apr 2024
