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Centamin Q4 Production From Sukari Gold Mine Increases

(RTTNews) - Centamin plc (CELTF.PK, CEY.L, CEE.TO) reported that Sukari Gold Mine produced 109,564 ounce in the fourth quarter, a 2% increase from last year, driven largely by the transition to owner mining in the underground and improved flexibility in the open pit.

Production guidance range for 2023 is 450,000 to 480,000 ounce representing an increase in annual production from 2022, driven predominantly by higher mining rates from the underground following the transition to owner-operator mining.

Gold sales for the fourth quarter were 108,441 ounce, a 9% increase year-over-year. The average realized gold price for the quarter was US$1,735/oz , down 5% from the previous year. Revenues generated were US$188.5 million, an increase of 3% year-over-year, driven by higher gold sales countering a slightly lower gold price.
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