Centamin on track to hit full-year guidance – MoneyWeek

Nevertheless,outputinthesecondquarterhitarecord67,422ounces。

PlantavailabilityandproductivitywasimpactedbyascheduledSAGmillrelineinSeptemberandtheillegalstrikeinJuly,thecompanysaid。

OperationsatSukariweretemporarilyhaltedafterasmallpercentageoftheworkforceprotestedaboutsalaryincreases。

Thecompanycontinuestoramp-upitsopenpitoperations,whichdeliveredtotalmaterialmovementof6,970ktinthequarter,up6%onthesecondquarter。

Theundergroundminehoweverdelivered93。

4kt,down19%quarter-on-quarterduetotheimpactofthestrikeandalsoatemporaryreductionintheavailabilityofminingcontractequipment,whichrestrictedremotebogging(load-haul-dump)capacityandaccesstothehighgradestopes。

Centaminsaidthatmeasuresarebeingtakentoredresstheundergroundproductivityissuesandexpectsproductiontoexceed70,000ouncesinthelastquarter。

Thiswillbringtotalfull-yearoutputinlinewithguidance(around250,000ounces)。

TheteamatSukarionceagaindeliveredastrongsetofoperatingresultswhichareparticularlypleasinggiventheseveralcumulativeissuesthatwerefacedandaddressedduringthequarter,saidCentaminsChairmanJosefEl-Raghy。

Openpittonnagescontinuedtoincreaseaccordingtoplanandtheoperationasawholeenteredthefourthquarterwellplacedtomeetourunchangedfullyearproductionguidanceof250,000ounces,hesaid。

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