Shares of Centamin Plc (OTCMKTS:CELTF) ended higher Wednesday after reporting quarterly earnings.
On Wednesday , CELTF stock jumped 3.20% to $1.29 with 9.2K shares, compared to its average volume of 12.45K shares. The stock has moved within a range of $1.2700 – 1.2977 after opening trade at $1.27.
Established gold producer, with listings on both the London Stock Exchange and Toronto Stock Exchange, Centamin Plc (OTCMKTS:CELTF) announced its fourth-quarter results.
CEO of Centamin Plc, Martin Horgan said that last quarter delivered a successful 2021, resulting in the company delivering annual gold production as well as costs at the midpoint of guidance.
Horgan added that the year witnessed robust delivery against its announced plans and finishing Sukari Life of Asset study. This reflects the long life and high quality of the mine in addition to growth opportunities. The CEO further opined that incredible progress has been done against capital projects as the firm invests in future assets even as the company improves safety performance and looks to achieve a zero-harm workplace.
Horgan further said that the firm has started the year with confidence and looks forward to delivering the roadmap for unlocking value from Sukari and its exploration portfolio.
In the year 2021, Centamin Gold did a production of 107,549 ounces in the last quarter while the total production was 415,370 oz for the twelve months of 2021. By end of December 2021, the cash and liquid assets were $257 million. The company added that the Capex for the year was $233 million.
In the 2022 guidance, the firm is looking to increase gold production from 430,000 to 460,000 oz with cash costs of US$900-1,000/oz produced. Centamin is aiming at a capital expenditure of $215 million, including US$25 million of deferred solar as well as construction expenditure from 2021. The company confirmed that it would be publishing the fill 2021 financial results.
CELTF stock is trading above the 200-Day and 50-Day Moving averages of $1.23 and $1.24 respectively. However, the stock is trading below the 20-Day moving average of $1.37. The stock is up 11% over the past month.