Centamin Recorded Gold Sales of 203,587 oz in H1
Mining News | 2022-08-05 12:25:52
The capital expenditure during the six months amounted to $139 million, said the company press release.
By Paul Ploumis
SEATTLE (Scrap Monster): Centamin Plc. announced interim report for the six-month period ended 30th June, 2022.
The revenue for the half-yearly period stood at US$382 million. The company recorded gold sales of 203,587 oz at an average realised gold price of US$1,872/oz. It reported cash cost of production of $931/oz produced and AISC of $1,446/oz sold. The EBITDA was $153 million, while the EBITDA margin stood at 40%. The net profit after tax attributable to shareholders was $85 million. The capital expenditure during the six months amounted to $139 million, said the company press release.
ALSO READ: Centamin Remians On Track to Surpass 2021 Output Target
Centamin reaffirmed production and cost guidance for the current year. It expects gold production to range between 430,000 and 460,000 oz at cash costs of $900-1,000/oz produced and AISC of $1,275-1,425/oz sold. According to the company, the exploration expenditure for the year is projected at around $25 million, with anticipated total capex budget of $225.5 million.
Martin Horgan, CEO, Centamin commented that the company has delivered strong performance against guidance and its long-term plans during H1 2022. It has started to see the benefits of the reinvestment programme at the Sukari gold mine, he added.
