Centamin’s 2015 Production Guidance Disappoints

Centamin plc (TSX:CEE,LSE:CEY) announced preliminary Q4 2014 production results for its Egypt-based Sukari gold mine, also releasing 2015 production guidance for the operation.

Reuters notes that production guidance has left investors disappointed.

As quoted in the press release:

Total gold production for the quarter was a record 128,115 ounces, a 40% increase on the corresponding quarter in 2013 and 37% higher than Q3 2014.

This brings full year production to 377,261 ounces, a 6% increase on 2013 and within revised guidance of between 370,000 and 380,000 ounces.

Forecast production from the Sukari Gold Mine for 2015 is 420,000 ounces at a cash operating cost of US$700 per ounce. This would represent an 11% increase on 2014 production of 377,261 ounces and would become the sixth successive year of growth at Sukari.

Click here to read the full Centamin plc (TSX:CEE,LSE:CEY) press release.