Centamin PLC Q3 2016 Preliminary Production Report (6866L)
October 05 2016 - 2:00AM
UK Regulatory
TIDMCEY
RNS Number : 6866L
Centamin PLC
05 October 2016
For immediate 5th October 2016
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q3 2016 Preliminary Production Results
Centamin is pleased to announce preliminary production results
for the quarter ended 30 September 2016 from its Sukari Gold Mine
("Sukari") in Egypt.
Preliminary total gold production for the quarter was 148,674
ounces, a 6% increase on the previous quarter and a 41% increase on
Q3 2015.
Quarterly throughput at the process plant was 2,806kt, a 4%
decrease on the previous quarter and in excess of our base case
target rate of 11 million tonnes per annum (Mtpa).
Open pit total material movement (ore plus waste) increased 7%
on the previous quarter to 16,191kt. Open pit ore production
decreased by 14% to 2,936kt at an average mined grade of 1.06g/t.
The average head grade to the plant from the open pit was 1.14g/t.
The run of mine ore stockpile balance increased by 157kt to 1,169kt
at the end of the period.
The underground operation delivered 255kt of ore, in line with
the previous quarter, at an average mined grade of 9.0g/t.
Productivity remained above our forecast rate of 1 million tonnes
per annum at 6g/t. Ore from stoping was 153kt at 8.8g/t and ore
from development was 103kt at 9.2g/t.
Q3 2016 (preliminary) Q2 2016 Q3 2015
---------------------------- ---------------------- -------- --------
Open Pit - Total Material
Movement (kt) 16,191 15,080 14,344
---------------------------- ---------------------- -------- --------
Open Pit - Ore Production
(kt) 2,936 3,425 2,204
---------------------------- ---------------------- -------- --------
Underground Ore Production
(kt) 255 256 312
---------------------------- ---------------------- -------- --------
Process Plant Throughput
(kt) 2,806 2,929 2,673
---------------------------- ---------------------- -------- --------
Process Plant Productivity
(tph) 1,437 1,432 1,342
---------------------------- ---------------------- -------- --------
Gold Produced (oz) 148,674 140,306 105,413
---------------------------- ---------------------- -------- --------
Andrew Pardey, CEO of Centamin, commented:
"Centamin delivered another solid quarter from the Sukari
operation, bringing year to date total production to 414,249 ounces
of gold. Ore throughput rates at the processing operation were
stable, consolidating the improvements delivered over previous
quarters and remaining above our base case forecast rate of 11Mtpa.
The open pit delivered an increase in total material movement and
the underground mine continued to deliver both tonnes and grade in
excess of our base case forecast. We expect full year 2016
production to be towards the upper end of our guidance range of
between 520,000 and 540,000 ounces."
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
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