Overview
Centamin has reported EPS of USc1.65 for Q2 2015, up 67% from the corresponding quarter of 2014, but down from the USc2.50 earned in Q1 2015. Gold production rose 32% yoy, to 108 koz, and remained broadly in line with the first quarter of 2015. On the back of the higher production at its Sukari mine, in Egypt, the company managed to reduce its cash costs to US$706/oz of gold from US$783/oz a year ago.
The company’s gold production guidance for 2015 is 430-440 koz at a cash cost below US$700/oz and AISC below US$950/oz.
As at 30 June 2015, the company had cash of US$175 million and was debt-free.
Centamin has declared an interim dividend of USc0.97/share payable on 9 October.
Centamin’s gold production and earnings up yoy: CEY