Centamin Plc's(CEY.L,CELTF.PK,CEE.TO) reported preliminary production results from its Sukari Gold Mine in Egypt for the quarter to September 30, 2014.
Total gold production for the quarter reached 93,624 ounces, a 15% increase on the second quarter of 2014 and 10% higher year-over-year. The expanded plant achieved nameplate capacity of 10Mtpa during the quarter, with the potential for throughput rates to increase further during subsequent quarters as the new plant is fully optimized.
Underground and open pit average grades increased over the third quarter and are likely to improve further during the fourth quarter, driving increased gold production levels. Therefore, the firm reiterates its full-year forecast of 420,000 ounces gold.
Open pit total material movement rose 16% sequentially to 11,406kt with the current daily ammonium nitrate issue of 25 tonnes a day.
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