Perth, Australia (FSCwire) - Josef El-Raghy, Chairman of Centamin, commented: "Testament to the quality of our team and the quality of our assets, the past year has seen the Company firmly consolidate its position as one of the world’s leading low cost gold producers. The Sukari Gold Mine produced 544,658 ounces of gold in 2017, at a cash cost of production of US$554/oz and all-in sustaining cost of US$790/oz at an average realised gold price of US$1,261/oz, generating US$676 million in revenue, US$326 million in EBITDA and US$224 million in pre-tax profits. Commercially in operation for eight years, Sukari has maintained cash costs in the lowest quartile in the industry, averaging US$614/oz since commercial production commenced in 2010.

 

The central tenet of our corporate strategy is delivering returns to stakeholders. Following a strong operational and financial performance throughout the year, the board of directors is delighted to propose a final dividend for 2017 of 10 US cents per share, for approval at the forthcoming Annual General Meeting on 26 March 2018. This represents a proposed full year dividend of 12.5 US cents per share, totalling a full year pay-out of US$144 million, which is equivalent to approximately 100% of our free cash flow in 2017.”

 

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Source: Centamin plc (TSX:CEE, LSE:CEY)

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