Centamin PLC on Monday posted significantly higher profits for 2020 on stronger gold prices and confirmed its 2021 direction.
The owner of the Sukari gold mine in Egypt made a net profit of $ 156.0 million last year, up from $ 87.5 million in 2019, despite producing less gold and retaining higher costs. height per ounce.
Wages before interest, taxes, depreciation, and depreciation rose 54% to $ 438.5 million, beating a market consensus of $ 435.8 million – derived from FactSet and based on ten projections analysts.
The FTSE 250 company announced a final share of 3 cents in a segment, bringing the full-year distribution to 9 cents – or 15 cents if they included a replacement 2019 final allotment. with interim payment in the first quarter of 2020.
For 2021, Centamin has reaffirmed a 400,000-430,000 ounce gold production guideline, with all maintenance costs – which include cash costs, capital expenditure maintenance, inspection and general and administrative expenses – between $ 1,150 and $ 1,250 per ounce.
In addition, the company reaffirmed its intention to pay a total contribution of $ 105 million, up from $ 104.0 million by 2020.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT