Centamin plc (CELTF.PK,CEY.L,CEE.TO), on Tuesday, issued a trading update for the first two months of Q3 2024 and reported Q3 QTD Gold production of 93,278 ounces or oz, and gold sales of 102,563 oz from the Sukari Gold Mine.
As at 31 August 2024, the company had cash and liquid assets of US$244 million, and total liquidity of US$394 million including the undrawn US$150 million sustainability-linked revolving credit facility. This is before the 30 June 2024 interim dividend payment of 2.25 US cents per share totalling US$26.1 million due on 27 September 2024.
MARTIN HORGAN, CEO, said, "Sukari continues to perform safely and the positive operational momentum achieved during Q2 2024 has continued into July and August. Strong production and cost discipline has enabled us to benefit from the robust gold price, generating US$76 million of free cash flow in the first two months of Q3, 77% higher than the US$43 million generated in the first half of the year."
For the full year 2024, the company expects Gold production to be in the range of 470,000 - 500,000 oz per annum, while adjusted capex guidance of US$215 million is maintained.
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