Centamin lifts Q3 Ebitda by 57% q/q
JOHANNESBURG (miningweekly.com) – Egypt-focused Centamin’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 57% quarter-on-quarter to $103.6-million for the third quarter ended September 30.
The higher Ebitda was the result of an increase in gold sales to 150 273 oz and a higher average realised gold price at $1 283/oz.
Revenues increased by 27.6% quarter-on-quarter to $193.09-million.
The Sukari mine produced 156 533 oz of gold in the third quarter, with mine production costs up 6% quarter-on-quarter to $80.7-million, as a result of higher mining rates in the openpit and higher reagent costs in the process plant.
LSE- and TSX-listed Centamin’s earnings a share, after profit share, increased to $0.034 in the third quarter, compared with $0.011 in the second quarter.
The gold miner noted on Thursday that the Egyptian State had benefited from $76.6-million in profit share payments in the first nine months of this year, in addition to $14.5-million in royalties.
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