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Centamin 2Q Gold Output Rises 27% From Year Ago

Kitco News

(Kitco News) - Centamin Plc (LSE: CEY; TSX: CEE) reported Thursday that its Sukari Gold Mine produced 117,913 ounces of gold in the second quarter, a year-over-year rise of 27% and keeping the company in line with its guidance for the full-year.

Output at the Egyptian mine in the first half was 234,096 ounces. The company lists full-year guidance of 490,000 to 520,000 ounces, but said output is weighted 45:55 to the second half of the year.

The company said it will report detailed results, including the interim dividend, for the first half year on July 31. At that time, Centamin also plans to publish its baseline near-term outlook for 2020 and 2021.

“We have a portfolio of attractive organic opportunities within Sukari and continue to deliver successful results from our Cote d’Ivoire exploration programs,” said Andrew Pardey, chief executive officer. “Our balance sheet is strong with no debt, no hedging and cash and liquid assets of $327 million.”

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