Centamin shares jump on better than expected first-quarter results

Shares in Centamin (LON:CEY) jumped by 11%, to 88.62p (16:25 BST), on the back of its first-quarter results, in which the FTSE-250 Egyptian miner announced better than expected results in terms of gold production and costs.

Its flagship mine Sukari produced 116,183 ounces of gold in the three months ended 31st March 2019, which compares to its previous expectation of 105,000-115,000 ounces. Production was boosted by faster than expected operational improvements.

Despite previous management predictions that the quarter would be the toughest quarter of the year, the company maintained its gold production guidance for the full-year of 490,000-520,000 ounces.