Gold and Silver Updates


Centamin’s full 12 months income has risen by greater than 1 / 4 because the gold manufacturing agency delivered a robust 2020 efficiency.

Yearly income reached $829m, a 26 per cent improve from $658.1m in 2019.

Manufacturing from the Sukari Gold Mine for the ultimate three months of the 12 months was nearly 68,000 ounces, assembly steering set in October.

Quarterly income hit $150m, whereas full 12 months income stemmed from gross sales of greater than 468,000 ounces within the mine, the one energetic web site in Centamin’s portfolio.

Gold gross sales for the quarter dropped 42 per cent in comparison with 2019 on account of mining decrease grade materials.

The quarterly income signalled a 26 per cent lower year-on-year, as a consequence of lowered quantity bought however improved gold value.

Learn extra: Centamin first-half profit jumps on strong gold prices

Centamin has run the Sukari Gold Mine in Egypt for the final 10 years.

The London-listed firm operated the primary large-scale trendy gold mine within the Northern African nation, which is without doubt one of the world’s largest producing mines.

Martin Horgan, CEO of Centamin, praised its robust annual efficiency.

Horgan stated: “At present’s quarterly and subsequent full 12 months 2020 outcomes had been delivered in-line with the revised steering we issued in October.

“This follows the capital markets occasion we hosted in December, the place we introduced the conclusions of the Part One Lifetime of Asset assessment and three-year outlook, detailing clear cost-saving, exploration and productiveness initiatives, forming a part of our plans to unlock Sukari’s potential.”

Learn extra: Centamin shares on the rise as gold production grows


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