Centamin's gold production from its Sukari mine in Egypt totalled 544,658 ounces in 2017 - above guidance of 540,000 ounces. Gold production for Q4 2017 was 154,298 ounces - 1.4% down on the previous quarter but 12.8% up on a year ago. The group also achieved record quarterly throughput from the processing plant of 3,072kt, a 2.5% increase QoQ and 4.2% increase YoY. Open pit total material movement was 17.6Mt, a 5% reduction QoQ and 12% increase YoY. Chief executive Andrew Pardey said: 'We are pleased to report a strong operational finish to 2017 with fourth quarter production of 154,298 ounces, resulting in full year gold production of 544,658 ounces, exceeding guidance of 540,000 ounces. 'All sections of the mine continued to perform well, maintaining strong operational momentum throughout the fourth quarter which we look forward to building on in 2018. 'With underground development expected to allow a further improvement in sustainable underground production rates, consistent open-pit mill feed grades and an increase in plant throughput, we look forward to delivering solid growth in 2018 with gold production guidance of 580,000 ounce at a cash cost of US$555/oz and an all-in sustaining cost of $770/oz resulting in significant free cash flow for our shareholders. 'Sukari continues to demonstrate its world class nature with long-term, large-scale and sustainable low-cost production. 'Sukari's growth remains anchored by the 20-year life of mine, bulk tonnage, open pit operation, with an expanding high-grade underground operation. 'Our mineral reserve and resource update further supports our expectation for ongoing replacement of underground reserves over the coming years as development continues to extend along strike and at depth, as Centamin remains focused on unlocking Sukari's true potential.'
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