Q2 2016 Operational Highlights
Gold production of 140,306 ounces was a 12% increase on Q1 2016 and 30% higher than Q2 2015.
Cash cost of production of US$461 per ounce and all-in sustaining costs (AISC) of US$669 per ounce.
2016 annual production guidance of between 520,000 and 540,000 (previously 470,000) ounces at a cash cost of production of between US$530 and US$550 (previously US$680) per ounce and AISC of between US$720 and US$750 (previously US$900) per ounce.
Record process plant throughput of 2.93 million tonnes (Mt); a 2% increase on the previous quarter.
Recovery of 89.5%, up by 1% over the first quarter, reflects on-going optimisation of the process plant.
The underground mine delivered 256kt of ore, (a 9% decrease on Q1 2016), at a grade of 9.3g/t (up 19% on Q1 2016).
Continued positive results from underground exploration drilling at Sukari, with an updated resource and reserve estimate scheduled during the second half of the year.
Development of a new exploration decline commenced in August 2016 within the north-eastern Cleopatra zone of Sukari Hill, aimed at testing the potential for further reserve growth and additional underground production of up to 1Mt per annum. Initial project expenditure is expected to be US$11.5 million.
Exploration continues to support the potential for near-surface and high-grade economic mineralisation in Burkina Faso. Encouraging results from the exploration programme in Côte d'Ivoire.
Financial Highlights
EBITDA of US$101.6 million was up 51% on Q1 2016, driven by an increase in realised gold prices and gold sales volumes together with improved operational efficiencies and lower overall costs.
Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$332.2 million at 30 June 2016, up US$56.5 million over the quarter.
Interim dividend of 2 US cents per ordinary share versus an interim payment of 0.97 US cents in 2015.
Basic earnings per share of 6.297 US cents; up 78% on Q1 2016.
