StockMarketWire.com - Mining company Centamin maintained its guidance for 2021 after reporting annual production that met its revised expectations.

For 2021, gold production was guided in a range of 400,000 to 430,000 ounces, at cash costs of US$800-to-900 per ounce produced and AISC of US$1,150-to-1,250 per ounce sold.

Gold production from the Sukari gold mine for the fourth quarter of 2020, was 67,996 ounces, in-line with the quarterly guidance range of 60,000 to 70,000 ounces.

Gold production for 2020 was 452,320 ounces and in-line with annual production guidance of 445,000 to 455,000 ounces.

Fourth-quarter revenue was US$150 million as gold sales fell 33% to 79,535 ounces year-on-year. For the full-year 2020, revenue was US$829 million, as gold sales were flat at 468,681 ounces year-on-year.

Adjusted free cash flow was US$3 million for fourth quarter, and $142 million for the full-year.

The company said Capital was on track to commence material movement as part of the 120 million tonnes waste-stripping programme at Sukari in H1 2021.






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