Centamin PLC Q1 2018 Preliminary Production Results (1922K)
April 09 2018 - 2:25AM
UK Regulatory
TIDMCEY
RNS Number : 1922K
Centamin PLC
09 April 2018
For immediate 9 April 2018
release
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Q1 2018 Preliminary Production Results
Centamin announces preliminary production results for the
quarter ended 31 March 2018 from its Sukari Gold Mine ("Sukari") in
Egypt.
Quarter Preliminary Production Results
-- Gold production for the quarter was 124,296 ounces, a 19%
reduction quarter on quarter ("QoQ") and a 14% increase year on
year ("YoY")
-- The Company maintains full year guidance of 580,000 ounces
-- Total ore processed for the quarter was 3.07Mt, a consistent
QoQ performance and a 6% increase YoY
-- Metallurgical plant recoveries for the quarter were 89.6%, a
material 1% increase QoQ and 1% increase YoY
-- Open pit total material movement for the quarter was 18.5Mt,
a 5% increase QoQ and 8% increase YoY
-- Quarterly open pit ore mined was 6.05Mt, at an average mined
grade of 0.50g/t, a 6% increase in tonnes QoQ and a 144% increase
YoY, and a 19% decrease in grade QoQ and a 6% increase YoY
o This included 1.45Mt at 0.36g/t delivered to the dump leach
pads
o The average head grade to the plant from the open pit was
0.69g/t
-- Underground operation delivered 312kt of ore, at an average
mined grade of 6.69g/t, a 5% increase in tonnes QoQ and a 24%
increase YoY
o Underground ore from stoping was 160kt at 7.27g/t
o Underground ore from development was 152kt at 6.09g/t
-- Run of mine ore stockpile balance increased by 1.96Mt to 4.14Mt, as at the end of the quarter
Q1 2018 Preliminary Production
Results
----------------------------------- -------------------------- -------- --------
units Q1 2018 Q4 2017 Q1 2017
(preliminary)
------------------------- -------- -------------------------- -------- --------
Open Pit - material
moved kt 18,496 17,647 17,128
Open Pit - ore
mined kt 6,047 5,726 2,478
Underground -
ore mined kt 312 298 252
------------------------- -------- -------------------------- -------- --------
Process plant
throughput kt 3,068 3,072 2,908
Plant feed grade g/t 1.31 1.70 1.29
Metallurgical
recovery rate % 89.6% 88.5% 88.8%
Gold produced oz 124,296 154,298 109,187
------------------------- -------- -------------------------- -------- --------
The Company will publish full results for the quarter ending 31
March 2018 on the 3 May 2018. The results will be accompanied by a
conference call for investors and analysts at 09:00 BST on the same
day.
Andrew Pardey, CEO commented:
"Operationally Sukari has made a solid start to 2018. Whilst
first quarter gold production was 124,296 ounces, a 14% increase
compared to the corresponding quarter in 2017, production was lower
than planned due to the transitional zone of the open pit
delivering lower than expected grades. Additional grade control
drilling and rescheduling has resulted in accelerated access to the
higher grade open pit Stage 4 primary ore throughout the second
quarter. We maintain our full year production guidance of 580,000
ounces.
The processing plant has delivered a strong first quarter with
throughput greater than 3Mt. Metallurgical recoveries have
significantly improved to 89.6% following the continued focus on
process controls and successful enhancements to the elution
circuit.
The fourth secondary crusher has been installed and
commissioning is underway, further lifting throughput capacity in
line with increased underground tonnage. Building on the strong
plant performance this quarter we look forward with confidence to
delivering on our production guidance throughout 2018."
For further information, please visit www.centamin.com or
contact:
Centamin plc Buchanan
Andrew Pardey, CEO Bobby Morse
Alexandra Carse, Investor Relations Chris Judd
+44 (0) 7700 713 738 + 44 (0) 20 7466
alexandra.carse@centamin.je 5000
centamin@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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