2013 Production Guidance Update
14.03.2013 | Marketwire
PERTH, AUSTRALIA -- (Marketwire) -- 03/14/13 --
For immediate release 14 March 2013
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
2013 Production Guidance Update
Centamin is pleased to advise forecast production for the year 2013
from the Sukari Gold Mine of 320,000 ounces gold at a cash operating
cost of US$700 per ounce with fuel at international prices This
represents a 22% increase on the production delivered in 2012 and will
mark the third successive year of output growth at Sukari on the path
towards our long-term target of 450-500,000 ounces per annum from 2015
onwards.
The Stage 4 expansion project has experienced some delays for key
items, materials and services. We now anticipate the bulk of
commissioning activities of the expanded plant will commence during the
second half of 2013, although there is no change to our expectation
that the plant will be fully operational before the end of the year.
Partly as a result of these delays, as well as general cost inflation,
our estimate for the total capital cost of Stage 4 is now US$325
million, including contingency, as compared with the previous US$287.6
million, excluding contingency.
We look forward to providing our results for the year ended 31 December
2012 on 27 March.
For more information please contact:
Centamin plc Buchanan
Josef El-Raghy, Chairman Bobby Morse
Andy Davidson, Head of Business Development and Cornelia Browne
Investor Relations Gabriella Clinkard
(andy.davidson@centamin.co.uk) + 44 (0) 20 7466
+44 (0) 20 7569 5000
1671
This information is provided by RNS
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