Stingy22 Mar 2021 13:22
Can’t help thinking the market is being a bit stingy toward Centamin, especially when the report reads so well...
“ Egyptian gold miner Centamin reported "record" revenue of USD828.7 million in 2020, up 27% from USD652.3 million in 2019, on a 26% improvement in the average gold price received. Pretax profit jumped by 82% to USD315.0 million from USD173.0 million. Centamin produced 452,320 ounces of gold from the Sukari mine in 2020, down 6% from 480,528 the year before, but the average realised gold price rose to USD1,766 per ounce from USD1,399 in 2019. All-in sustaining costs were USD1,036 per gold ounce sold, up 10% on 2019. For 2021, Centamin expects to produce 400,000 to 430,000 ounces of gold at a AISC of USD1,150 to USD1,250. Centamin declared a final dividend of 3 US cents for a 9.0 cents total payout. It expects its payout to increase by at least 1% in 2021.”