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Centamin Egypt : Worth waiting for... (CEY)     

pthwaite - 20 Sep 2004 10:27

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.

Chart.aspx?Provider=EODIntra&Code=CEY&Si

HARRYCAT - 02 Aug 2018 08:52 - 2351 of 2354

StockMarketWire.com
Centamin reaffirmed full-year output guidance Thursday after reporting profit before tax rose 34% in the first half of the year compared to the same period a year ago despite selling and producing less gold.

Production guidance for 2018 was maintained at a range of 505,000 to 515,000 ounces.

For the six months to 30 June, pretax profit rose 34% to $80.4m, total revenues rose 2% to $296.4m and earnings (EBITDA) rose 16% to $129.7m.

Gold production for the half year fell 7% to 217,099 ounces while gold sales fell 3% to 228,672 ounces. The drop in gold sales was offset somewhat by a 7% rise in average realised gold prices to $1,316 an ounce

Unit cash cost of production fell 5% to $637 an ounce from $668 an ounce, while the ASIC rose 8% to $930 an ounce.

The open pit delivered 11.6Mt of mined ore, a 109% increase year on year, from total material movement of 36.9Mt, a 7% increase year on year.

The underground mine delivered 601kt of ore, a 10% increase year on year, however the feed grade of 5.7g/t was 30% lower year on year and below mine plan, the company said.

Gross capital expenditure increased 56% to $53.9m, in line with the $113m budgeted for the full year, the company said.

Looking ahead, the company said unit cash cost of production remains on track with guidance of $625 to $640 per ounce produced.

While AISC per ounce sold is expected to trend downwards to within guidance range of $875 to $890 per ounce sold in the second half of the year, in line with increased production.

'Significantly stronger production is expected for the second half ("H2"), driven by continued improvements in grade from the open pit as mining progresses into the sulphide ore and an increase in high grade stoping tonnes from the underground,' the company said.

skinny - 05 Oct 2018 07:41 - 2352 of 2354

Q3 2018 Preliminary Production Results

OVERVIEW

· Gold production for Q3 was 117,720 ounces, a 27% improvement on the second quarter ("QoQ"), resulting from month on month operational improvements in the open pit and underground;

· September was a strong month with production of 48,511 ounces. However operational improvements have taken longer than planned to materialise;

· In Q4, we expect improvements to be sustained and production in the region of 145,000 ounces, resulting in a total 2018 annual production of approximately 480,000 ounces.

Open Pit

· Mining of the Stage 4 transitional zone was completed in Q3 and mining is now in the higher-grade fresh sulphide material, which will be the source of ore for at least the next three years;

· The open pit is performing slightly ahead of expectations, achieving another record quarter for ore mined and material moved (6.6Mt and 19.9Mt, respectively);

· Open pit ore grade mined has improved month on month, exiting at 0.74 g/t for September and averaging 0.64g/t in Q3; and

· Open pit average milled grade was 0.81g/t.

Underground

· Total underground ore mining of 327kt, a 13% increase QoQ, at an average mined grade of 5.18 g/t, a 12% increase QoQ due to the successful ongoing implementation of changes initiated in Q2:

o Ore mined from stoping was 199kt at 6.16 g/t

o Ore mined from development was 128kt at 3.65 g/t

o Stope to development ore split 60:40;

· Cleopatra decline development progressed 864.4 metres, delivering 70,897 tonnes of material at an average development grade of 1.56g/t:

o Produced 3,223 ounces in Q3

o Cleopatra exploration drilling continues to test the contact zones and at depth

o Assay results will be released as part of the detailed Results, to be published 1 November 2018.

Processing

· Total ore processed through the plant was 3.1Mt, at a head grade of 1.29g/t, a 31% increase QoQ; and

· Metallurgical plant recoveries for the quarter were 88.7% a 1% increase QoQ.

The Company will publish full Q3 Results on 1 November 2018. The results will be accompanied by a conference call for institutional investors and analysts at 09:00 BST (UK) on the same day.

Andrew Pardey, CEO commented:

"These results are a demonstrable operational improvement on Q2. We are extremely pleased with the operational performance from the open pit. We are through the transitional ore, grades are improving in line with the mine plan and will continue to through the fourth quarter. The underground improvements have been very encouraging and are continuing. Our focus remains on achieving optimal and consistent performance."


Conference call

A conference call will be hosted by the Company at 09.00 BST (UK) today to discuss the results and answer any questions. Where possible, please dial in 10 minutes before the start time using the details below:

Participant code: 78774386#

UK Toll: 02034281542
UK Toll Free: 08082370040

A replay will be made available on the Company website from 13.00 BST (UK) today.

skinny - 09 Jan 2019 07:09 - 2353 of 2354

Q4 and Full Year 2018 Preliminary Production Results

Centamin announces preliminary production results for the fourth quarter ("Q4") and twelve months ended 31 December 2018 from its Sukari Gold Mine ("Sukari") in Egypt.

Overview

· Gold production for Q4 was 137,600 ounces, a 17% improvement on the previous quarter ("QoQ"), predominantly driven by higher QoQ grades from both the open pit and underground. Month-on-month production profile was consistent at approximately 45,000 ounces per month;

· Full year gold production for 2018 was 472,418 ounces, a 13% reduction on the previous year;

· Continued focus on operating controls and resource modelling, as well as further key personnel changes throughout Q4 and will continue in 2019; and

· The Group achieved a zero-harm record in Q4 with a Loss Time Injury Frequency Rate ("LTIFR") of 0.00, resulting in an LTIFR of 0.06 per 200,000 man hours worked in 2018.

more.....

skinny - 22 Jan 2019 07:28 - 2354 of 2354

Centamin is scheduled to publish its annual results, for the year ending 31 December 2018, on Monday 25 February 2019, at which time the Board of Directors will propose a final dividend for 2018.

The Company will host a conference call to discuss the results with institutional investors and analysts at 11.00 GMT/06.00 EST on the same day. Please find below the required access details:
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