| An SI Board Since November 2013 |
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CELTF |
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Centamin is a mining company that has been actively exploring in Egypt since 1995. The Company's principal asset is its interest in the large scale, low cost Sukari Gold Mine, located in the Eastern Desert of Egypt. Sukari produced 150,000 ounces of gold in its maiden year of production in 2010, consistently expanding thereafter to reach over 260,000 ounces in 2012. The 'Stage 4' plant expansion programme commenced in 2011 to target 450-500,000 ounces per annum production from 2015 onward. The Sukari Gold Mine is the first large-scale modern gold mine in Egypt. Centamin's operating experience in Egypt gives it a significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian Shield. In 2011 the Group acquired, through Sheba Exploration Holdings Limited ("Sheba"), four mineral licences in Ethiopia where it is conducting further exploration activities. In addition, Centamin currently has a 14.4% shareholding in Nyota Minerals Ltd ("Nyota"), which owns the Tulu Kapi advanced exploration project in Ethiopia. In September 2013, the Group entered into a joint venture with Alecto Minerals plc ("Alecto") to pursue existing and new opportunities identified by Alecto in Ethiopia. The initial joint venture projects relate to two exploration licenses, Wayu Boda and Aysid Meketel. This information is provided by RNS The company news service from the London Stock Exchange END
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