Centamin Recorded Gold Sales of 203,587 oz in H1

SEATTLE (Scrap Monster): Centamin Plc. announced interim report for the six-month period ended 30^th 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.

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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.