What We Do
A Growing Mid-Tier Gold Producer
Centamin plc is positioned for growth. Our company:
Has production in excess of 200,000 ounces of gold per annum
Is rapidly ramping up production to 500,000 ounces of gold per annum
Has large reserves and resources with further potential for exploration
Has no debt or hedging and a strong financial position
Egypt's first modern gold mine
Our flagship project, the Sukari Gold Mine, is located in the Eastern Desert of Egypt, 700km from Cairo and 25km inland from the Red Sea. Production commenced in June 2009, making Sukari the first modern mine in Egypt, a country which in ancient times was a prolific producer of the yellow metal. Our operating experience in Egypt gives us significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian shield and beyond.
Rapidly growing production
We are implementing a rapid expansion programme to increase production from 150,000oz in our maiden year of production (2010) to approximately 500,000oz/annum. We aim to achieve this goal by optimising production from the open pit and underground mine at Sukari.
Exploration upside potential
Centamin has resources of 13.13 million ounces Measured and Indicated, and 2.3 million ounces Inferred, and a 10.1 million ounce reserve base.
Our exploration strategy has three focuses:
Growth of Sukari – continuing to explore Sukari hill, particularly the Pharaoh Zone (northern part of the hill) which has previously been underexplored
Growth on Existing Licence – there are 7 other defined prospects on the 160km2 tenement area besides Sukari hill and drilling results continue to be very encouraging
Growth Beyond Sukari – in Q3 2011 Centamin acquired Sheba Exploration Plc, which marked our first step into strategically diversifying into other areas of the Arabian-Nubian shield. Exploration will continue at one of the four Sheba prospects, Una Deriam, in 2012
Strong foundations for growth
Centamin's unhedged and debt free position, coupled with a highly cash generative project, positions us to grow and deliver superior results to our shareholders as well as our stakeholders.
Centamin is listed on the Main Market of the London Stock Exchange under the symbol CEY and on the Toronto Stock Exchange under the symbol CEE. We have offices in London, UK; Alexandria, Egypt; and Perth; Australia. Our registered office is in Jersey.