Centamin slumps as output falls

Egypt-focused gold miner Centamin’s share price slid over three per cent yesterday, after it posted a 19 per cent decline in production in the first quarter of 2014, compared to the last quarter of 2013. The FTSE 250-quoted firm attributed this to a temporary reduction in the average underground grade due to poor mining fleet availability. This problem has been resolved so production is expected to pick up again for the remainder of the year.