🕐09.05.12 - 08:27 Uhr
CENTAMIN PLC RESULTS FOR THE QUARTER ENDED 31 MARCH 2012
Dear Sir/Madam
Centamin plc ("Centamin" or "the Company") (LSE: CEY, TSX: CEE) is pleased to announce its results for the three months to 31 March 2012.
HIGHLIGHTS
Q1 gold production of 49,071 ounces from the Sukari Gold Mine (Sukari), a 9% increase on Q1 2011
Cash costs of US$637 per ounce (excluding additional fuel prepayments, see main text)
Average gold sales price received of US$1,694 per ounce
Underground mine achieved record quarterly material movement of 71,815t
Processing plant throughput of 1,020kt, an increase of 38% on Q1 2011 with record monthly mill throughput in January of 415,604t
Stage 4 (plant expansion to 10Mtpa) continues to progress well and is on track for commissioning to begin in Q1 2013.
Expenditure to date is US$99.3 million
With cash and liquid assets of US$175 million as at 31 March 2012, Centamin remains debt-free and unhedged
2012 production guidance of 250,000 ounces maintained, with cash costs of US$550 per ounce at subsidised fuel prices
Drilling commenced at Una Deriam, the first of Centamins four exploration licenses in Ethiopia
To view the full announcement, visit www.centamin.com and click Latest News.
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