Gold miner Centamin says its exploration and capital project development plans for the second quarter remain on track.
Reporting on its results for the quarter ended March 31, CEO Martin Horgan says the quarter was a "good start" to the year, with Centamin having delivered production as scheduled, including record material movement.
Gold production from the Sukari mine, in Egypt, reached 104 047 oz, in line with 2021 guidance. A record 22.8-million tonnes of material were moved, driven by improved operating efficiencies and the start of the accelerated waste-stripping programme.
Centamin generated revenue of $190-million from gold sales of 106 573 oz at an average realised gold price of $1 778/oz sold.
Cash costs were $733/oz and all-in sustaining costs (AISC) $1 091/oz.
Group free cash flow was $9-million, after $37-million of capital expenditure and $27-million was distributed to the Egyptian government in profit share payments and royalties.
Centamin has a strong balance sheet with no debt and no hedging and cash and liquid assets of $331-million.
The miner maintains its full-year guidance at between 400 000 oz and 430 000 oz, split equally across the first and second half of the year.
Costs are expected to be between $800/oz and $900/oz and AISC between $1 150/oz and $1 250/oz.