LONDON (dpa-AFX) - Miner Centamin Plc. (CELTF.PK, CEY.L, CEE.TO announce preliminary production results for the first-quarter ended 31 March 2016 from its Sukari Gold Mine in Egypt. Preliminary total gold production for the quarter was 125,268 ounces, 15.7% increase on the first-quarter 2015. Full year production guidance of 470,000 ounces is maintained.
Quarterly throughput at the process plant was 2,876kt, a 4.3% increase on the previous quarter and above our base case target rate of 11 million tonnes per annum (Mtpa).
Open pit total material movement increased 10.2% on the previous quarter to 15,157kt, with open pit ore production increasing by 7.9% to 2,405kt. The run of mine ore stockpile balance decreased by 213kt to 491kt at the end of the period.
Andrew Pardey, CEO of Centamin, said, 'These production results reflect a solid start to the year for Sukari and support our forecast 2016 production of 470,000 ounces of gold...... With quarterly production rates expected to remain within the 450,000 to 500,000 ounces per annum range, our full year guidance remains unchanged at 470,000 ounces. Continuing optimisation of the expanded Sukari processing and mining operations supports the potential for further productivity increases over the coming quarters.'
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