Centamin sees 18pc rise in output

FTSE 250 miner Centamin yesterday forecast production from the Sukari gold mine in 2014 of 420,000 ounces at a cost of $700 (£425) per ounce, an 18 per cent increase on 2013 output of 356,943 ounces. “Given its recent tendency to under-promise an over-deliver, it must be confident of producing a significant uplift in underground performance,” said Investec. “Guidance equates to seven per cent higher production at per cent lower costs than our analyst had been expecting and would result in a 21 per cent uplift in earnings per share.”