CENTAMIN PLC ORD - CELTF STOCK NEWS

Centamin reported a strong fourth quarter for 2022, achieving annual gold production of 440,974 ounces and a revenue of $787 million. The company maintained cash costs of $913/oz and all-in sustaining costs (AISC) of $1,399/oz as it met its 2022 guidance despite inflationary pressures. Highlights included the commissioning of a 36MW solar plant, a new safety record of over 8 million hours without a lost time injury, and a boost in Sukari's reserves. A $150 million sustainability-linked revolving credit facility was secured, enhancing financial flexibility. The company aims for a production increase to 450,000-480,000 ounces in 2023.

Centamin announced a significant legal victory after the Egyptian Supreme Constitutional Court upheld the constitutionality of Law No. 32 on January 14, 2023. This ruling prevents third parties from legally challenging contracts between the Egyptian government and investors, notably affecting the Sukari Gold Mine Concession Agreement. As a result, Centamin can now apply to dismiss a long-standing challenge to this agreement, ensuring uninterrupted operations at Sukari. The company plans to file an application with the Supreme Administrative Court to reject the original case based on the ruling.

Centamin will host a virtual investor presentation on January 19, 2023, to discuss Q4 2022 results and significant company updates. Martin Horgan, CEO, and Ross Jerrard, CFO, will highlight progress towards strategic goals aimed at maximizing Sukari's value. The event will start at 13:00 GMT via the Investor Meet Company platform and will include a Q&A session. Investors can register for the event through a provided link, with a replay available later. Centamin, a leading gold producer, operates Sukari, which has produced over 5 million ounces of gold since 2009.

Centamin PLC announced a significant change in major holdings as of December 16, 2022. Van Eck Associates Corporation has crossed the 9.62% voting rights threshold, now holding 111,244,970 shares, accounting for 9.62% of total voting rights. This change reflects a decrease from a previous holding of 10.014%. The notification was officially made on December 19, 2022. Centamin, which trades under the ticker CELTF, continues to be monitored for investor sentiment and stock performance following this update.

Centamin announces significant growth in mineral resources and reserves at its Sukari Gold Mine, with a 33% increase in underground reserves, bringing total underground reserves to 1.2Moz. The open pit Mineral Reserve also grew, replacing annual depletion for the first time since 2015. Sukari's Measured and Indicated resources now total 11.11Moz, a 13% increase. The company will conduct a €280,000 meter drilling campaign in 2023 to explore additional growth opportunities. The life of mine for Sukari is projected at 14 years for the open pit and 10 years for the underground operations.

Centamin PLC announced a significant notification regarding major holdings under TR-1 standard notification on December 6, 2022. The report indicates an acquisition of voting rights by Van Eck Associates Corporation, with their total voting rights increasing to 10.001% after acquiring an additional 0.031% since the previous notification. The date of threshold crossing was recorded on December 1, 2022 with a total of 115,658,932 shares held. This acquisition emphasizes growing institutional interest in CELTF.

Centamin has reported positive progress on the pre-feasibility study for its Doropo project in Côte d'Ivoire. The company has upgraded its mineral resources to 2.52Moz at a grade of 1.52g/t Au, marking a 22% increase versus the previous assessment. The study identified potential capital and operational cost savings by switching to a whole ore leach flowsheet. A successful drilling program has led to further resource growth opportunities, with results from the pre-feasibility study expected in H1 2023.

Centamin reported a strong performance for Q3 2022, achieving a safety record with no lost time injuries and a gold production of 127,512 ounces, a 23% increase YoY. Revenue reached US$218.1 million, driven by higher gold sales despite a slightly lower average gold price of US$1,720/oz. Cash costs decreased to US$811/oz, with all-in sustaining costs at US$1,289/oz. The commissioning of the Sukari solar plant contributed to reduced costs and GHG emissions. The company maintains its gold production guidance for 2022, targeting 430,000 to 460,000 ounces.