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Centamin's Q1 income up 43% YOY on increased gold sales

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

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Centamin's Q1 income up 43% YOY on increased gold sales

CentaminPlc posted total comprehensive income attributable to shareholdersof US$40.9 million in the first quarter of 2016, up from US$28.6 million a yearago.

EPS increased to 3.51 cents, from 2.48 cents in the prior-yearquarter, according to a May 3 earnings release.

Revenue for the three months increased to US$148.1 million,from US$135.5 million a year ago, as a 2% fall in average realized gold priceswas offset by an 11% increase in gold sales.

EBITDA of US$67.5 million was up 27% on the first quarter of2015 as goldproduction saw a 16% year-over-year increase to 125,268 ounces, andgold sales increased to 123,668 ounces in the quarter, from 111,249 ounces ayear ago.

Cash cost of production and all-in sustaining costs droppedto US$603 per ounce and US$758 per ounce, respectively, from US$717 per ounceand US$858 per ounce a year ago.

Centamin reiterated its full-year guidance of 470,000 ounces at a cash cost ofproduction of US$680 per ounce and all-in sustaining costs of US$900 per ounce.