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Centamin’s Sukari mine produces its five-millionth ounce

20th October 2022

By: Marleny Arnoldi

Online News Editor

     

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London- and Toronto-listed Centamin is on track to meet its full-year production guidance, after producing 127 512 oz in the quarter ended September 30.

The group’s yearly guidance is set at between 430 000 oz and 460 000 oz of gold.

During the third quarter, the company’s Sukari gold mine, in Egypt, produced its five-millionth ounce of gold since the start of production at the mine in 2009.

The company generated $218-million from gold sales of 126 610 oz in the quarter under review, realising an average gold price of $1 720/oz sold.

Centamin reports that its cash cost of $811/oz in the reporting quarter is at the lower end of the 2022 guidance, which is set at between $900/oz and $1 000/oz.

Meanwhile, the company is progressing with the construction of an underground paste-fill plant and plant optimisation, at the Sukari mine. 

Centamin remains within its adjusted capital expenditure budget of $225-million for the year and expects its exploration expenditure to be about $30-million.

CEO Martin Horgan says the third-quarter results reflect continued strong delivery across the group, with several key milestones having been achieved, including a new record safety performance and commissioning of the Sukari solar plant.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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