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Centamin: Q4 Production From Sukari Gold Mine Sequentially Rises

Centamin Plc (CELTF.PK,CEY.L,CEE.TO) announced preliminary production results for the fourth quarter from its Sukari Gold Mine in Egypt.

Gold production for the fourth-quarter was 137,600 ounces, a 17% improvement on the previous quarter, predominantly driven by higher quarter-over-quarter grades from both the open pit and underground. Month-on-month production profile was consistent at approximately 45,000 ounces per month.

Full year gold production for 2018 was 472,418 ounces, a 13% reduction on the previous year.

Continued focus on operating controls and resource modelling, as well as further key personnel changes throughout Q4 and will continue in 2019; and

The Group achieved a zero-harm record in Q4 with a Loss Time Injury Frequency Rate ("LTIFR") of 0.00, resulting in an LTIFR of 0.06 per 200,000 man hours worked in 2018.

Andrew Pardey, CEO said, "Concluding an operationally challenging year, the fourth quarter delivered further improvement in the grade from both the open pit and the underground stoping, whilst underground development focused on longer term production access. We look forward to 2019, where the focus remains on ensuring delivery of grade and as such gold production from Sukari, supported by tight cost control across all areas of the organisation and returns for our shareholders."

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