6th Jan 2014 08:13
LONDON (Alliance News) - Centamin PLC Monday said it increased total gold produced in its fourth quarter and surpassed the company's full-year guidance, as its Sukari process plant continued to provide high levels of productivity.
The FTSE 250-listed metals and minerals producer said its total gold production for the three months ended December 31 was 91,546 ounces, a 7.2% increase on 85,413 ounces in the previous year and an 8.0% increase from 84,757 ounces in the previous quarter.
The result brings the company's full-year production to 356,943 ounces of gold, a 36% increase on 2012 and above the company's guidance of 320,000 ounces.
Despite the increases on the previous year, the company's open pit total material movement decreased 8% from its third quarter to 9.6 million tonnes, and open pit ore production fell 7% on the third quarter to 3.2 million tonnes.
The company said its quarterly throughput from its Sukari process plant in Egypt was 1.4 million tonnes, a 12% increase on the previous year but a 4% decrease on the previous quarter based on unplanned stoppages during the quarter and the start of its Stage 4 commissioning activities.
In December, the company announced an increase in the measured and indicated resource of the Sukari gold mine to 13.4 million ounces from 13.1 million ounces but its combined open pit and underground reserve was down 19%, containing 8.2 million ounces of gold compared from 10.1 million ounces two years prior, on December 31, 2011.
By Tom McIvor; [email protected]; @TomMcIvor1
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