QUARTERLY REPORT
for the three months ended 30 September 2022
MARTIN HORGAN, CEO, commented: “The third quarter results reflect continued strong delivery across the Group and
we remain firmly on track to meet full year guidance. Several key milestones were achieved in the quarter, including a new
record safety performance and commissioning of the Sukari solar plant which marked a material step in reducing our GHG
emissions and cost base. In the quarter, Sukari produced its five millionth ounce of gold, and with visibility on at least the
next five million ounces of production, it is a strong reminder of the exceptional quality of this asset.”
HIGHLIGHTS
Milestones and records achieved
• New Group safety record: the Company recorded no Lost Time Injuries (“LTI”) in the third quarter (“Q3”) and
Sukari has achieved a site record of greater than five million hours LTI free
• Gold production of 127,512 ounces (“oz”), driven by planned higher grades from the open pit and underground,
and bringing gold production for the nine months of the year (“YTD”) to 331,410 oz and on track for the middle of
2022 guidance
• Revenue of US$218.1 million (YTD: US$599.9m), generated from gold sales of 126,610 oz (YTD: 330.2koz) at
an average realised gold price of US$1,720/oz sold
• Cash costs of US$811/oz produced (YTD: US$885/oz) and on track for lower end of 2022 guidance
• All-in sustaining costs (“AISC”) of US$1,289/oz sold (YTD: US$1,386/oz) and on track for upper end of 2022
guidance
• Sukari solar plant is delivering lower costs and reduced greenhouse gas (“GHG”) emissions: whilst in the
final stages of commissioning, since September the solar plant has consistently delivered nameplate capacity,
displacing up to 70,000 litres of diesel fuel per day (Link to announcement: Sukari Power Update)
• Capital projects progressing as scheduled: this includes the underground paste-fill plant, underground
infrastructure and equipment upgrades, and plant optimisation, as part of the reinvestment programme in the long
term optimisation of the mine
• Five millionth ounce milestone: in Q3, Sukari produced its five millionth ounce of gold, demonstrating the quality
of the asset, which has 5.8 million ounces in Proven & Probable Reserves as at 30 June 2021 and identified growth
upside potential
• Robust balance sheet: cash and liquid assets of US$153.6 million, as at 30 September 2022, and after US$29
million distributed in interim dividends.
OUTLOOK
On track to meet full year 2022 guidance
• Gold production guidance maintained at 430,000 to 460,000 oz for the year, targeting the middle of the range
• Cost guidance maintained at cash costs of US$900-1,000/oz produced and AISC of US$1,275-1,425/oz sold,
targeting the lower end of cash cost range and the upper end of the AISC range
• Adjusted capital expenditure guidance is maintained at US$225.5 million
• Results driven exploration expenditure expected to be approximately US$30 million.
Q4 2022 NEWS FLOW
• Underground expansion study
• Capital structure review
• Doropo Project (Cote d’Ivoire) pre-feasibility study update
• Sukari Resources & Reserve update.
2
WEBCAST AND CONFERENCE CALL
The Company will host a webcast and conference call today, Thursday, 20 October at 09.00 BST to discuss the results,
followed by an opportunity to ask questions.
Webcast link: https://www.investis-live.com/centamin/633d53edab77041200512904/pkqq

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