Centamin PLC-Q4 Preliminary Production Results

Wed Jan 9, 2013 2:00am EST

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Marketwire

Centamin PLC

January 9, 2013 - 02:00:10 AM

Centamin PLC-Q4 Preliminary Production Results

PERTH, AUSTRALIA--(Marketwire - January 08, 2013) - 



TSX:CEE
For immediate release                                    9 January 2013


                Centamin plc ("Centamin" or "the Company")
                             (LSE:CEY, TSX:CEE)

                    Q4 Preliminary Production Results

Centamin is pleased to announce its preliminary production results from
its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 31
December 2012.

Total gold production for the quarter was a record 85,543 ounces, a 45%
increase on the corresponding quarter in 2011 and a 40% increase on Q3
2012. This brings full year production to 262,958, a 30% increase on
2011 and above guidance of 250,000 ounces.

Ore tonnages mined and processed during the quarter were on budget,
despite the previously-announced temporary suspension of operations in
December, and both open pit and underground grades improved in line
with the mine plan. Formal guidance for the current year will be
provided during Q1.

Quarterly throughput at the Sukari process plant was 1,250kt, a 17%
increase on the corresponding quarter in 2011, and a 25% increase on Q3
2012. The nameplate annualised rate was achieved as productivity
improved significantly on the previous quarter.

Open pit total material movement of 6,739kt was down 3% and ore
production of 1,916kt was up 16% on Q3 2012. The average grade open pit
ore milled increased steadily in line with budget and previous
guidance. The underground mine delivered 111kt, up 19% on Q3 2012;
returning to budget productivity levels as the technical issues
encountered in the previous quarter were resolved. The run of mine ore
stockpile balance increased by 142kt to 721kt by the end of the
quarter.

Despite some on-going delays by customs officials, gold exports have
continued during January and it is expected that regular gold exports
will continue to take place as and when required.



                                          Q4 2012    Q3 2012   Q4 2011
                                        (estimate)

Total Material Movement - Open Pit (kt)    6,739       6,970     7,701

Open Pit Ore Production (kt)               1,916       1,653     1,988

Process Plant Throughput (kt)              1,250       1,004     1,066

Process Plant Productivity (tph)            686         624       628

Underground Ore Production (kt)             111          93       70

Gold Produced (oz)                        85,543      60,922    58,965


Josef El-Raghy, Chairman of Centamin, commented:"The team at Sukari has
delivered a very strong set of operating
results, with a record output for the quarter bringing full year
production ahead of guidance. All areas performed well and the results
are particularly pleasing given the challenges faced during the year.
Sukari has now delivered production growth over three consecutive years
and we look forward to a further increase in 2013. Whilst 2012
presented us with a number of challenges, we exit the year as forecast
with a robust financial and operating base with which to continue
delivering on our growth strategy."


For more information please contact:

Centamin plc                                     Buchanan
Josef El-Raghy, Chairman                         Bobby Morse
Andy Davidson, Head of Business Development      Cornelia Browne
and Investor Relations                           Gabriella Clinkard
(andy.davidson@centamin.co.uk)                   + 44 (0) 20 7466 5000
+44 (0) 20 7569 1671




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