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Gold mining company Centamin maintained its guidance on output after reporting a fall in production in the third quarter from the prior-year period.
Gold production for the third quarter was 'slightly ahead' of schedule at 103,546 ounces, down 19% from prior-year period. Gold production was up 3% quarter on quarter in Q3.
Revenue generated in the quarter fell 20% to $182.9 million year-on-year on gold sales of 103,514 oz, down 13%, as the average realised gold price fell 9%.
Looking ahead, the company maintained its production guidance in the range of 400,000 to 430,000 ounces, targeting the midpoint of 415,000 ounces.
'We entered the final quarter in a good position and remain firmly on track to meet our stated guidance for 2021,' the company said.
'[W]e 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.'