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Gold miner Centamin maintained its annual production guidance as gold output jumped 27% in the second quarter from a year earlier.
Gold production rose 27% to 117,913 ounces for the quarter from a year earlier, but gold sold of 112,764 ounces, was 5% below gold produced due to the 'timing of the closing weekly gold shipment,' the company said.
Processing plant throughput of 3.4Mt of ore was achieved during the quarter at an increased 96.1% utilisation rate.
The company left its guidance unchanged amid expectations for stronger production in the second half of the year.
Gold production was kept in a range of 490,000 - 520,000 ounces, at cash costs) of US$675-725 per ounce produced and an All in sustain cost of US$890-950 per ounce sold;
The company said it expected costs to trend downwards in line with the scheduled increased production profile in H2.
'We have a portfolio of attractive organic opportunities within Sukari and continue to deliver successful results from our Cote d'Ivoire exploration programmes. Our balance sheet is strong with no debt, no hedging and cash and liquid assets of US$327 million,' Centamin said.
At 8:30am: (LON:CEY) Centamin PLC share price was +0.08p at 114.68p