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Home arrow Business arrow Shares in Centamin Egypt up 2.8%
Shares in Centamin Egypt up 2.8% PDF Print E-mail
Written by Egypt News   
Monday, 29 June 2009
Shares in Centamin Egypt up 2.8%Shares in Aim-listed Centamin Egypt rise 2.8 percent as the gold miner announces it has started production at its Sukari project, prompting Evolution Securities to repeat its "buy" rating and up its target price to 97 pence from 50 pence

The first gold pour is on schedule, "meaning that its target of full production by fourth quarter should be achievable", according to Evolution Securities

"This is a key milestone which marks the start of the ramp up to full production over the coming months. Sukari should soon produce gold at a rate of 200,000oz/year."

The broker estimates Centamin will post pretax profit of $119.2 million in 2010, on a price earnings ratio of 12.3 times.

 

 

 

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