Gold Output by Centamin in Q3 This Year Exceeded Schedule

SEATTLE (Scrap Monster):  The quarterly report for the three months ended 30^th September, 2021 says that Centamin’s gold production for the quarter was slightly ahead of schedule.

The gold production totalled 103,546 ounces during the quarter. The cumulative output during the initial nine months of the year amounted to 307,821 ounces. During the quarter, the company generated revenue of $182.9 million. The gold sales totalled 103,514 ounces at an average realized gold price of $1,764 per oz sold. The all-in sustaining costs (AISC) stood at $1,266 per ounce in Q3 this year.

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The adjusted free cash flow of $6.9 million was ahead of budget. The capital expenditure during the quarter was $67.6 million, in line with the schedule. Centamin reported strong balance sheet, with total cash and liquid assets worth $256.1 million as at 30^th September, 2021.

Martin Horgan, CEO, Centamin stated that the quarter marked another one of solid operational delivery. The company progressed well on several growth projects, although output from Sukari gold mine declined. It is well on track to meet the full year 2021 guidance of 400,000-430,000 ounces, targeting the midpoint of 415,000 ounces, he added.