ArabFinance: The Gold mining company Centamin Plc announced it has generated a revenue of $182.9 million from selling 103,514 ounces of gold during the third quarter (Q3) of 2021, according to the companys quarterly report issued for Q3 2021.

This marks a 3% quarter-on-quarter (QoQ) increase on the back of higher gold sales and offset by lower realized gold price.

The company's gold production amounted to 103,546 ounces in the three-month period ended September 30th, 2021, bringing total output to 307,821 ounces in the first nine months of this year.

Total cash cost of production slipped 1% QoQ to $87.6 million in Q3 2021, reaching $252.3 million year-to-date (YTD).

Meanwhile, unit cash costs of production dropped by 4% QoQ to $846 per ounce.

The companys total CAPEX stood at $67.6 million in Q3 2021, jumping by 63% QoQ in line with the 2021 budget.

Regarding the Sukari gold mine, production from the mine grew by 3% QoQ during the July-September period of 2021, totaling 103,546 ounces.

This quarter (Q3 2021) marked another period of solid operational delivery. We entered the final quarter in a good position and remain firmly on track to meet our stated guidance for 2021[] the Company has been busy progressing several growth projects at the same time as delivering the Sukari operational reset, CEO of Centamin Martin Horgan commented.

Centamin continues to generate positive free cash flow whilst delivering increased investment into key capital projects, underpinning the long-term sustainability of Sukari. Further to this, we very much look forward to updating the market on the results of our Sukari Life of Asset optimisation work, which we expect to announce on Wednesday the 1st of December, Horgan added.

Centamin maintains its gold production guidance at 400,000 to 430,000 ounces, targeting the midpoint of 415,000 ounces.

Founded in 1970, Centamin Plc is a gold mining company listed on the London Stock Exchange and the Toronto Stock Exchange and is a constituent of the FTSE 250 Index. The company has offices in London, UK; Mount Pleasant, Western Australia; and Alexandria, Egypt, with its registered office is in Jersey.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.