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Centamin production set to hit top end of guidance

Wednesday, October 5, 2016 0:21
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Egypt-focused gold diggerCentamin PLC (LON:CEY) said it expects to be at the upper end of production guidance after another “solid” quarter.

The City is predicting output from the Sukari mine will be 520,000-540,000 ounces of the yellow metal and the third quarter contribution of 148,674 ounces gets it’s a step closer to that target.

That latter figure is some 6% ahead of the previous three months and 41% up on the same period last month.

“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,” said chief executive Andrew Pardey.

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