Monday, January 31, 2011

Centamin Egypt: A Gold Producer in Egypt at Bargain Prices

This is certainly not for the faint of heart., Centamin Egypt, a gold producer much recommended by analysts, has been dropping since the troubles started in Egypt.

Last quarter (Nov 3rd) the company reported gold production of 30,243 ounces from the company's Sukari Gold Mine. Gold sales totalled 31,228 ounces at an average sale price of US$1,239 per ounce. Cash operating cost averaged US$638 per ounce.

The Company expected 2010 production to be 160,000 - 170,000 ounces -- The Sukari mineral reserve increased to 9.1Moz during the quarter, an increase 28% above the 7.1Moz reserve reported in February 2010.

This quarter should be very interesting if the company reports any troubles.

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