Gold miner Centamin's shares nosed-up by one per cent in morning trading on the news that production levels are on track to be at the top end of expectations.
Third quarter revenues increased to $201m (£165m) from $119m in the same period the year before. They were up from $180m generated in the second quarter.
Earnings climbed from $102m to $122m compared to the quarter before and dwarfed the $31m Centamin made in the third quarter in 2015.
31 October 2016 @ 8:30amCentamin (CEY)
Production and sales levels rose steadily on the previous quarter, up around six to seven per cent but almost one and a half times the levels it was producing at the same point last year.
Why its interesting
"Gold, I'm glad that you're bound to return," Spandau Ballet once said, and this seems to be the case for FTSE 250 firm Centamin.
While everyone has been freaking out about the future of the EU and the US election, gold prices have made steady progress north and Centamin appears to be reaping the benefits.
Yuen Low, an analyst at Shore Capital Markets referred to the third quarter results in the way that a teacher praises the annoying clever kid in front of the rest of the class. "Excellent third quarter 2016 financials, as expected," Low summarised.
Centamin is particularly attractive to analysts because of the lack of debt on the balance sheet and the fact that it is raking in cash like Gringotts Wizarding Bank.
"Operational cash generation was stronger than ever... and resulted in the cash pile growing to $388.4m. Unsurprisingly, the balance sheet remains in very good health, with current assets far exceeding both current and total liabilities," said Low.
What the company said
Chief exec Andrew Pardey was slightly more reserved:
Centamin delivered another solid quarter from the Sukari operation, with a record of 148,674 ounces bringing year to date total production to 414,249 ounces of gold.
This operational performance, together with a continuation of the low operating costs delivered in the second quarter and a further increase in realised gold prices, resulted in a strong $85 million increase in our cash and liquid assets balance to $417m.
We therefore expect full year 2016 production towards the upper end of our guidance range and costs towards the low end of our guidance range.