Centamin PLC

122718

Equity

ISIN JE00B5TT1872 / Valor 14361056

LSE London Stock Exchange, SETS (2024-11-22)

GBP 1.46%

Centamin PLC
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About company

Centamin PLC is a mining company with operations and projects in Egypt, Cote d’Ivoire, and Burkina Faso. The company's primary asset is the Sukari Gold Mine, which is the largest gold mine in Egypt and one of the world's largest producing mines. Centamin aims to be a multi-asset gold producer focused on long-term sustainable growth. The Sukari Gold Mine, which began production in 2009, is a long-life, bulk tonnage open pit and underground operation forecasted to produce over 400,000 ounces of gold per year with a 12-year life of mine.

Summarized from source with an LLMView SourceSector: Energy

Gold Production and Sales

In the third quarter of 2024, Centamin PLC reported a significant increase in gold production and sales from the Sukari Gold Mine. The company produced 131,726 ounces of gold, marking a 30% year-over-year increase. Additionally, gold sales reached 149,659 ounces, up 44% compared to the same period last year.

Financial Performance

Centamin PLC generated US$103 million in free cash flow during Q3 2024, representing a remarkable 730% year-over-year increase. This figure was achieved after accounting for the Sukari profit share distribution, group exploration expenditure, and corporate investing activities. Year-to-date, the company has generated US$145 million in free cash flow.

Cost Management

For the third quarter of 2024, Centamin PLC reported cash costs of US$766 per ounce of gold produced. The all-in sustaining costs (AISC) were US$1,256 per ounce of gold sold, reflecting the company's focus on maintaining cost efficiency in its operations.

Capital Expenditure

Centamin PLC's capital expenditure for Q3 2024 amounted to US$67 million. This investment supports the company's ongoing projects and operational improvements, ensuring sustained growth and efficiency in its mining activities.

Balance Sheet and Liquidity

As of 30 September 2024, Centamin PLC maintained a robust balance sheet with cash and liquid assets totaling US$242 million. The company's total liquidity stood at US$392 million, which includes an undrawn US$150 million sustainability-linked revolving credit facility, underscoring its strong financial position.

Summarized from source with an LLMView Source

Key figures

64.2%1Y

46.6%3Y

29.1%5Y

Performance

33.7%1Y

33.1%3Y

35.2%5Y

Volatility