Centamin enjoys strong end to the year

10th Jan 2012 08:10

FTSE 250 gold miner Centamin produced 10% more gold in the fourth quarter from its flagship Sukari project in Egypt.Gold production totalled 58,965 ounces, above the 53,189 ounces produced in the same period of 2010 and 16% higher than the 50,539 ounces produced in the third quarter of 2011.Centamin said the result was helped by the record quarterly throughput in the Sukari process plant of 1,066kt, a 38% improvement year-on-year.As a result of the strong performance, total gold production in 2011 increased by 35% to 202,698 ounces compared with the year before.Centamin shares rose 3.9% to 84p in early trading on Tuesday."The final quarter of 2011 saw Centamin deliver record performance on all operating fronts, which was a credit to our operating team who remained focussed and committed to successfully delivering on our targets during a challenging year," said Chairman Josef El-Raghy.The Sukari project is located in the Eastern Desert of Egypt, 25km from the Red Sea coast.