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Centamin Plc
Summary
| Project: | Doropo | |
|---|---|---|
| Deposit: | Doropo | |
| Location: | Cote D'Ivoire | |
| Commodities: | Gold | |
| Date: | 2/25/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-2-2019: Centamin Plc announces an Exploration/Drilling Update report for its Doropo deposit at the Doropo project. Drilling results incl. 37m @ 11.2g/t Au. Josef El-Raghy, Chairman, commented: "Ten years ago, w e produced our first gold bar from Sukari | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Josef El-Raghy, Chairman, commented: "Ten years ago, w e produced our first gold bar from Sukari, a seminal milestone in the Company's history and the Egyptian modern mining industry. Today, w e have produced in excess of 3.8Moz of gold from Sukari, w ith greater than 15 years scheduled future production from this global Tier 1 gold asset. This year, against an operationally challenging backdrop, Centamin produced 472,418 oz of gold, delivered a solid cost performance and returned excellent exploration results across our portfolio of assets. Our workforce responded to the operational challenges w ith dexterity and professionalism and, together w ith a new team in place, are confident in returning Sukari back to its full potential. We recognise the impact of these short-term challenges on the shareholder experience and would like to take this opportunity to thank you for your support and engagement. Free cash flow generated w as US$63.4 million, demonstrating the underlying resilience and financial robustness of the business. The Board of Directors w ould like to recommend a final dividend of 3.0 US cents (subject to AGM approval), bringing the 2018 total dividend to 5.5 US cents, equivalent to approximately 100% of free cash flow to shareholders | |
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