Centamin’s production from the Sukari gold mine increased by 31% year-on-year (YoY) in Q3 2020 with 128,240 ounces (oz) of gold compared to 98,045 oz in Q3 2019.
This brings the company’s total production from January to September to 384,324 oz. Gold sales have also gone up by 9% YoY from 108,826 oz to 118,617 oz in Q3 2020. The amount of sold gold produced revenue of $230 million with an average realized price of $1,933/oz. Additionally, the total open pit ore mined was 3.8 million tons at an average grade of 1.01 grams of gold per tonne (g/t Au), a 5% increase in tonnes and a 35% improvement in average grade YoY.
Centamin has kept its guidance for 2020 at 445,000-455,000 oz of gold produced and has rescheduled the open-pit mining sequence. This means that its Q4 production guidance will include about 60,000-70,000 oz, at an estimated cash cost of $950-$1,050/oz.
The company has also rescheduled its operation in Stage 4 West to H2 2021 and into 2022. Centamin halted operations in the area earlier this month after detecting movement in a localized area of waste material.