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Centamin Egypt - Update boosts sentiment

May 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.

Significant director buying followed by a reassuring trading update have finally helped the shares out of their torpor. Q1 results saw Centamin pour 45,204 oz gold from its Sukari mine, which remains unmolested by the earlier political upheavals. The only disruption was caused by delays in the delivery of blasting accessories, which impacted on its ability to access the higher grade pit but higher grades should be achieved in Q2. Stage three plant expansion from 4mtpa to 5mtpa remains on track for 2011 commissioning but as a precaution Centamin has guided to full year production being at the low end of original guidance of 250-290,000 oz. How fortunate that Centamin raised £86m new money via a placing last December at ...

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Centamin Egypt - Well-financed beneficiary of high gold prices (August 2020)

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Centamin Egypt - Update boosts sentiment

May 2011

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