CEY is a gold mining company operating in Egypt. It was ordered by the Egyptian Government to stop drilling pending a legal dispute brought against the company by a government minister.

Since then, the whole Government cabinet was replaced a few months ago and the minister now in charge of Mining is believed to be positive on Western investment in the country. CEY are pushing for this minister to allow them to continue drilling ASAP; investers are waiting....patiently.

As soon as the company gets the go-ahead to continue drilling, the share price will move north; CEY has plenty of gold in this mine and it is (apparantly) the case of "raking" it out rather than drilling for it!

Check them out...worthy of a punt.

Is going places now on moving to 144.40p + 4.40p (+3.14%)

on a very strong order book on the bid side

Nothing is going places now when Mr Kim is ejaculating his missiles.

Check your pans then

Mr?
more like a fat C#nt

Mr Kim is ruining everything

very slowly moving higher, but today is up and the Gold price is not helping

Q3 2017 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 September 2017 from its Sukari Gold Mine ("Sukari") in Egypt.

Record total gold production for the quarter of 156,533 ounces, a 26% increase on the previous quarter and 5% higher than Q3 2016, the previous record quarter for Sukari. The Company maintains its 2017 production guidance of 540,000 ounces.

Quarterly throughput rate of 2,996kt at the process plant, a 2% decrease on the previous quarter.

The open pit achieved record levels of both total material movement and ore production. Open pit total material movement (ore plus waste) increased by 6% on the previous quarter to 18,602kt. Open pit ore production increased by 58% to 4,825kt at an average mined grade of 0.76g/t. This included 1,229kt at 0.29g/t delivered to the dump leach pads. The average head grade to the plant from the open pit was 1.11g/t.

The run of mine ore stockpile balance increased by 899kt to 1,436kt at the end of the period.

The underground operation delivered 302kt of ore at an average mined grade of 7.98g/t. Ore from stoping was 189kt at 8.21 g/t and ore from development was 113kt at 7.57g/t.

more.....

Will the trend be broken.

Notification of Major Holdings

BlackRock, Inc. increase.

Centamin plc Results for the Third Quarter and Nine Months Ended 30 September 2017

Centamin plc ("Centamin", the "Group" or "the Company") (LSE: CEY, TSX: CEE) is pleased to announce its results for the third quarter and nine months ended 30 September 2017.

Q3 2017 Operational Highlights (1),(2)
· Record quarterly gold production of 156,533 ounces was a 26% increase on Q2 2017 and 5% higher than Q3 2016.
· Q3 2017 cash cost of production and all-in sustaining costs (AISC) remain well controlled resulting in unit cash cost of production of US$483 per ounce produced and unit AISC of US$732 per ounce sold.
· Full year 2017 guidance maintained at 540,000 ounces, with US$580 per ounce cash cost of production and US$790 per ounce AISC.
· Quarterly throughput of 3.0 million tonnes from Sukari process plant, a slight decrease of 2% on Q2 2017 and an increase of 7% on Q3 2016 performance.
· Amun / Ptah underground operations delivered 302kt at a grade of 7.98g/t to the ROM pad with mill feed from underground of 305kt at 8.07g/t during the period.
· Third successive record quarterly open-pit material movement of 18.6 million tonnes.
· Continued positive results from underground exploration drilling at Sukari at both Amun / Ptah and Cleopatra and further encouraging drill results received from Côte d'Ivoire.
· Development of the Cleopatra exploration decline, located in the north-east of Sukari Hill, advanced 153 metres.


Financial Highlights (1),(2)
· Q3 2017 EBITDA of US$103.6 million up 57% from Q2 2017 due to an increase in both sales volumes and average realised gold price.

· Strong cash flow generation with free cash flow generation of US$45 million in the third quarter, US$96 million year to date.

· Cash at bank, bullion on hand, gold sales receivable and available-for-sale financial assets as at 30 September 2017 of US$345.8 million, following an interim dividend payment of US$29.0 million.

· The Egyptian state has benefitted directly from profit share payments to EMRA of US$76.6 million during the first nine months of 2017 in addition to US$14.5 million in royalties.

· Quarterly basic earnings per share (after profit share) of 3.41 US cents, an increase from 1.10 US cents in Q2 2017, due primarily to higher EBITDA offset by higher profit share payments.

Purchased a few of these, looking attractive.

Increased here today, good write up in Shares a couple of weeks ago.

Don't want to speak too soon, but looking good.

24 Nov
Goldman Sachs
205.00
Conviction Buy

Q4 2017 Production, 2018 Guidance and R&R Update

Centamin is pleased to announce preliminary production results for the quarter ended 31 December 2017, outlook for 2018 and updated reserve and resource statement from its Sukari Gold Mine ("Sukari") in Egypt.



Preliminary Production Results

· 2017 full year gold production was 544,658 ounces, above guidance of 540,000 ounces.

· Gold production for Q4 2017 was 154,298 ounces, a 1.4% reduction quarter on quarter ("QoQ") and a 12.8% increase year on year ("YoY");

· Record quarterly throughput from the processing plant of 3,072kt, a 2.5% increase QoQ and 4.2% increase YoY;

· Open pit total material movement was 17.6Mt, a 5% reduction QoQ and 12% increase YoY;

· Quarterly open pit ore production was 5,726kt, at an average mined grade of 0.62g/t. This included 2,064kt at 0.32g/t delivered to the dump leach pads. The average head grade to the plant from the open pit was 0.92g/t;

· Run of mine ore stockpile balance increased by 742kt to 2,178kt, as at the end of the quarter;

· Underground operation delivered 298kt of ore, at an average mined grade of 8.8g/t, a 1% reduction in tonnes QoQ and a 31% increase YoY;

o Underground ore from stoping was 168kt at 9.27g/t;

o Underground ore from development was 130kt at 8.17g/t.

more.....

Numis Buy 162.63 170.00 200.00 Retains

Centamin plc results for the year ended 31 December 2017 and full year dividend declaration


Josef El-Raghy, Chairman of Centamin, commented: "Testament to the quality of our team and the quality of our assets, the past year has seen the Company firmly consolidate its position as one of the world's leading low cost gold producers. The Sukari Gold Mine produced 544,658 ounces of gold in 2017, at a cash cost of production of US$554/oz and all-in sustaining cost of US$790/oz at an average realised gold price of US$1,261/oz, generating US$676 million in revenue, US$326 million in EBITDA and US$224 million in pre-tax profits. Commercially in operation for eight years, Sukari has maintained cash costs in the lowest quartile in the industry, averaging US$614/oz since commercial production commenced in 2010.

The central tenet of our corporate strategy is delivering returns to stakeholders. Following a strong operational and financial performance throughout the year, the board of directors is delighted to propose a final dividend for 2017 of 10 US cents per share, for approval at the forthcoming Annual General Meeting on 26 March 2018. This represents a proposed full year dividend of 12.5 US cents per share, totalling a full year pay-out of US$144 million, which is equivalent to approximately 100% of our free cash flow in 2017."


Financial Highlights(1),(2)

Fourth Quarter, ending 31 December 2017.

· Cash costs of production of US$453 per ounce, a 6% improvement quarter on quarter ("QoQ") on Q3 2017 and a 15% improvement year on year ("YoY) on Q4 2016, driven predominantly by an increase in ounces produced. The benefits of an increase in produced ounces (driven by increases in processed tonnes and grade) was slightly offset by an increase in fuel and reagent costs;

· All-in sustaining costs ("AISC(1)") of US$744 per ounce sold, were 2% higher QoQ and 3% higher YoY, mainly due to increased production costs and higher sustaining capital costs as a result of the planned fleet rebuilds.

Full Year, ending 31 December 2017

· Strong cash flow generation with US$142 million of free cash flow(1) generated in 2017, down 41% on the prior year (2016: US$242 million) almost entirely due to the impact of increased profit share payments;

· 2017 revenues of US$676 million were down 2% on the prior year (2016: US$687 million) with a 0.4% increase in realised gold prices offset by a decrease in gold sales;

· Cash costs increased to US$554 per ounce produced (2016: US$513), driven predominantly by an increase in mined and processed tonnes and an increase in fuel and reagent costs;

· AISC(1) of US$790 per ounce sold matched our forecast but was an increase on the prior year (2016: US$694), mainly due to increased production costs and higher sustaining capital costs resulting from planned fleet rebuilds;

· EBITDA(1) decreased by 13% to US$326 million, as a result of increased production and operating costs and the slight decrease in revenues;

· Profit before tax decreased by 16% to US$224.1 million, due to the factors outlined above;

· Earnings per share after profit share of 9.51 US cents were down 49% on the prior year due to lower revenue, higher costs and, most significantly, the impact of the first full year of profit share (2016: 18.71 US cents);

· Operational cash flow of US$359 million was 2% lower than 2016, due to the lower gold production base with higher gold prices offset by a higher cost base;

· Total capital expenditure for 2017 of US$107.5 million was a 2% increase on the prior year (2016: US$105.6 million). The US$19 million increase in sustaining capital (including the scheduled fleet rebuild programme) was largely offset by a US$17 million reduction in the non-sustaining capitalised exploration costs across the group;

· Cash and liquid assets (3) of US$418 million at 31 December 2017; and

· Centamin remains debt-free and unhedged.



Proposed Final Dividend

o Subject to shareholder approval at the Company's annual general meeting on Monday 26 March 2018:

o Proposed final dividend of 10 US cents per share (US$115.2m);

o Total dividend of 12.5 US cents per share, including the interim dividend of 2.5 US cents per share (paid out 29 September 2017);

o Proposed total dividend pay-out of approximately US$144 million, equivalent to approximately 100% of free cash flow in 2017; and

o Record date on 23 March 2018; Pay date on 6 April 2018.

Operational Highlights (1),(2)

· Full year gold production was 544,658 ounces, above guidance of 540,000 ounces and 1% decrease year on year ("YoY");

· Record processing throughput of 12.0Mt, a 4% improvement YoY and above our base case forecast rate of 11.8 Mtpa.

· Record open pit total material movement (waste plus ore) of 70.9Mt, a 14% improvement YoY.

· Record open pit ore production of 16.09Mt, a 47% improvement YoY, at an average mined grade of 0.66g/t. This included 3,965kt at 0.29g/t delivered to the dump leach pads. The average head grade to the plant from the open pit was 0.89g/t, a 6% decrease YoY; and

· Total underground ore mined of 1.14Mt, a 12% improvement YoY, at a grade of 8.28g/t, an 8% decrease YoY, marking the third consecutive year of sustained annualised rate above our base case forecast of 1Mt per annum.

o Underground ore from stoping was 684kt, a 21% increase YoY, at a grade of 8.88g/t;

o Underground ore from development was 461kt, a 1% increase YoY at a grade of 7.39g/t.



Exploration Highlights

· Exploration at Sukari drives high grade underground reserve expansion in excess of annual depleted mined ounces;

· Exploration success in Côte d'Ivoire has expanded last year's maiden resource at Doropo Project to 1.35Moz gold Indicated and 0.9Moz gold Inferred, with the main structure remaining open;

· Exciting new discovery at the ABC Project in Côte d'Ivoire where exploration delineated an outcropping 12km strike-length gold bearing structure; and

In Burkina Faso, drilling targeted resource and reserve expansion near Konkera.



2018 Outlook

· Forecast gold production for 2018 is 580,000 ounces, a 6.5% increase on 2017 actual production, with the mine plan forecasting a relatively balanced quarterly production profile over the year;

· Forecast cash cost of production for 2018 of US$555 per ounce and all-in-sustaining cost of US$770 per ounce;

· 2018 capital expenditure of US$135 million including US$37.5 million for non-sustaining exploration;

· Processing plant throughput of 12.3Mtpa, with the installation of the fourth secondary crusher increasing capacity;

· 70.5Mt total open pit material scheduled to be mined; 17.7Mt total open pit ore scheduled to be mined at an overall grade of 0.70g/t including dump-leach and stock-pile material, with open pit feed grade in line with open pit reserve grade;

· Open pit mining activities will be focused on Stage 4A of the north wall, the predominant source of ore over the next five years;

· 1.3Mt total underground ore scheduled to be mined at a grade of 7.2 g/t; comprising a 65:35 split between stoping and development ore, respectively;

· Ongoing decline development and exploration at Cleopatra, to access the high grade western contact, a key near term growth catalyst; Ongoing underground decline development at Amun and Ptah, to access the Horus, Bast and Osiris zones, which are key drivers of medium term growth;

· Four exploration rigs allocated to focus on underground reserve replacement and resource expansion drilling as the orebody remains open in multiple directions;

· Further resource development in West Africa, with resource expansion and definition continuing at the Doropo Project in north-east Côte d'Ivoire and resource definition drilling in Burkina Faso; and

· Follow up exploration work continues after encouraging first pass drill results from the ABC project in western Côte d'Ivoire delineated an outcropping 12km strike gold bearing structure.

Legal Developments in Egypt

· The Supreme Administrative Court appeal and Diesel Fuel Court Case are both on-going. With the potential for the legal process in Egypt to be lengthy there may be a number of hearings and adjournments before decisions are reached. There were no developments during the year in the two litigation actions.

more.....

Payments to governments

BlackRock < 16%

Berenberg today reaffirms its hold investment rating on Centamin PLC (LON:CEY) and set its price target at 156p.

Goldman Sachs today reaffirms its conviction buy investment rating on Centamin PLC (LON:CEY) and set its price target at 220p.