Centamin Q3 Gold Production Up 31%

Centamin plc (CELTF.PK,CEY.L,CEE.TO) reported third-quarter gold production of 128,240 ounces, up 31% compared to the prior year period, driven largely by higher mined grades. Gold sales for the quarter were 118,617 oz, a 9% increase year-over-year.

Due to timing of gold shipments, there were 14,578 unsold ounces at 30 September 2020 which have subsequently been sold.

Martin Horgan, CEO, said, "Following our operational update on 2 October, today we have refined our 2020 guidance to 445,000 - 455,000 ounces of gold produced. Reflecting the continued work required to improve operational flexibility in the open pit, 2021 production is forecast at 400,000 - 430,000 ounces. We have already commenced an increased waste stripping programme to improve optionality in the open pit, the benefits of which are expected to start to flow through in 2022."

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