Cairo – Mubasher: Egypt-based Sukari Gold Mine (“Sukari”) produced 136,700 ounces in the fourth quarter of 2016, higher 16% year-on-year from 117,600 ounces, said Centamin in a press release on Monday.
Over 2016, the output rose 25% to 551,030 ounces, the press release indicated.
The output is likely to reach 540,000 ounces in 2017 with an operating cost amounting to $580 per ounce, the release revealed.
"Production of 136,787 ounces from Sukari in the fourth quarter marked a seventh successive year of growth, with 2016 full year output of 551,036 ounces exceeding the top end of our revised annual guidance range. Free cash flow generation from Sukari has further strengthened Centamin's financial position during 2016, a trend we expect to continue as we forecast 2017 production of 540,000 ounces at an all-in sustaining cost of US$790 per ounce”, said Andrew Pardey, CEO of Centamin
