Centamin plc Met 2023 Gold Production Guidance

SEATTLE (Scrap Monster): Centamin plc announced results for the three-month and full-year period ended 31^st 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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