LONDON (dpa-AFX) - Centamin plc (CEY, CEE, CELTF), engaged in the exploration, mining, and development of precious metals, on Wednesday reiterated its 2022 full-year guidance while releasing details of its performance in the first quarter ended 31 March.
Gold sales for the quarter were 92,559 oz, a 13 percent decrease on a year-on-year basis. The average realized gold price for the quarter was $1,883/oz, up 6 percent on a year-on-year basis.
Revenue for the quarter was $174.6 million, 8 percent lower than last year amidst lower gold sales.
Gold production for the quarter was 93,109 oz, as the first quarter production was planned to be lower than the remaining quarters of the year due to the transition to owner mining in the flagship Sukari underground.
The company said it remains on track for the 2022 guidance and expects a gold production of 430,000 to 460,000 oz for the year. The capex budget of US$225.5 million remains unchanged.
Shares of Centamin closed Tuesday's trading at $1.28, up $0.03 or 2.40 percent from previous close.
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