Last Update 22:36
Sunday, 21 July 2019

Centamin reports better-than-expected Q1 gold output

Reuters , Wednesday 24 Apr 2019
Share/Bookmark
Views: 2184
Share/Bookmark
Views: 2184

 Gold miner Centamin reported first-quarter production that exceeded its forecast and stuck to its annual output target as it ramped up drilling at its Sukari mine in Egypt.

The company’s output totalled 116,183 ounces of gold for the three months ended March 31, above its forecast range of 105,000 to 115,000 ounces.

But that was lower than a year earlier when its production came in at 124,296 ounces of gold.

“Despite being the weakest quarter forecasted for 2019, it is encouraging to see the systems and process upgrades across all sections of the mine positively impacting performance,” Chief Executive Officer Andrew Pardey said.

Unit cash costs jumped 9 percent to $631 per ounce of gold produced, in keeping with its tone in February when it warned of higher costs due to increasing input costs and rising fuel, reagent and consumable prices. 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.