SEATTLE (Scrap Monster): Centamin plc announced results for the three-month and full-year period ended 31st December, 2023. The company delivered gold production in line with the guidance.
The gold production totalled 450,058 ounces (oz) in 2023, with the quarterly production totalling 128,127 oz. The average annual all-in sustaining costs (AISC) of US$1,220/oz for the year beat the bottom end of guidance by US$30/oz.
The company generated revenue of US$265 million from gold sales which stood at 133,465 oz. The gold sales during the entire year 2023 totalled 456,625 oz, which in turn generated revenue of US$892 million. Meantime, the average annual cash cost was US$892 million produced. Also, the annual capital expenditure of US$202 million stood below guidance of US$272 million.
Centamin expects gold production to range between 470,000 and 500,000 oz in 2024. The company announced cash cost guidance of US$700-850/oz produced and AISC guidance in the range of US$1,200-1,350/oz sold.
Commenting on the results, Martin Horgan, CEO said that it has extended the track record of meeting production guidance to a third year. In 2023, the company delivered excellent performance and improved safety results. He thanked the whole team for their ongoing hard work and dedication to deliver the outcome.
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