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Centamin Egypt

December 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CEY
  • Price:
  • 107p
After a difficult period it looks like Egyptian gold miner Centamin's fortunes are on the rise again with results for the quarter to 30 September showing gold production rising from almost 48,000 oz in Q2 to 50,539 oz in Q3. With average sales prices rising from US$1,545 / oz to US$1,721 / oz more than offsetting the increase in cash costs from US$605 to US$635, it achieved an operating profit of US$43.4m and eps of almost 4 cents. Full-year production guidance of 200-210,000 oz is unchanged, while cash costs are expected to fall back towards US$500. Cash balances were US$201m. ...

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