Centamin’s quarterly results sparkle

FTSE 250 gold miner Centamin (LON:CEY) saw its share price climb by 5.99% to 136.36p (as of 13:50 GMT) as sales for the final quarter of 2019 came in at $204.1 million. Ore grades improved in both open pit and underground mining and the average realised gold price rose slightly.

CEO Ross Gerrard commented: “Centamin has undertaken a number of initiatives in 2019 to improve the consistency at, and increase cash flow from, the Sukari mine, which have contributed to a strong fourth quarter performance. Consistent operational delivery against the mine plan remains the key objective. The leadership teams have been strengthened and I am confident in our ability not just to deliver in the near term but also to enhance the long-term value at Sukari, and the rest of the portfolio.

Centamin’s mission is to be a multi-asset gold producer of quality, long-life assets. We continue to assess opportunities for value-accretive diversification in conjunction with the investment in organic growth projects that support and increase the long-term value of the Group“.