Centamin Stock Price, News & Analysis

Centamin announced that Hendrik Faul, a Non-Executive Director, has been appointed as a non-executive director of ACG Acquisition Company Limited, a SPAC listed on the London Stock Exchange. This move aligns with Listing Rule 9.6.14. The announcement reiterates ongoing regulated information.

For more details, visit www.centamin.com.

Centamin PLC has reported a notification of major holdings as of August 30, 2022. Van Eck Associates Corporation acquired a 9.97% stake, equivalent to 115,335,920 voting rights in the company. This acquisition was part of their investment strategy involving various ETFs related to gold mining and natural resources. The notification was officially communicated to the issuer on August 31, 2022. The previous stake was 10.08%, indicating a slight reduction in their holdings. The notification is crucial for investors tracking changes in significant shareholder positions.

Centamin plc has appointed Berenberg and Peel Hunt LLP as joint Corporate Brokers, effective immediately. They join existing brokers BofA Securities and BMO Capital Markets. Centamin is a leading gold producer with a premium listing on the London and Toronto Stock Exchanges. Its flagship asset, the Sukari Gold Mine, has produced approximately 5 million ounces of gold since its inception in 2009 and has a projected mine life of 12 years. The company is also advancing exploration in Egypt and West Africa, particularly the Doropo project.

Centamin reported strong financial results for H1 2022, with revenue of US$382 million from 203,587 ounces of gold sold at an average price of US$1,872/oz. The net profit after tax reached US$85 million, equivalent to a basic EPS of 7.35 US cents. Key developments include a successful waste stripping program, transition to owner operations, and a new solar power plant expected to enhance cost efficiency. The company announced an interim dividend of 2.5 US cents per share, totaling approximately US$29 million for shareholders.

Centamin plc has declared an interim dividend of 2.5 US cents per share (totaling US$29 million) for the six months ending June 30, 2022. The company reported US$175 million in available cash and liquid assets, with no debt. The Board aims to recommend a minimum total dividend of 5 US cents per ordinary share for 2022, contingent on free cash flow after growth investments. Important dates include the ex-dividend date on September 1, 2022, and the payment date on October 7, 2022.

Centamin has reported significant exploration progress across its portfolio in Egypt and West Africa. The company identified high-grade satellite ore sources and extensions of the Sukari underground orebody, with notable drill results such as 54m at 15.1g/t Au at Horus Deeps. An airborne geophysical survey was also completed, marking a milestone for the region. The Doropo pre-feasibility study is on track for completion by year-end 2022, with potential resource growth noted.

Centamin plc has announced significant share purchases by its top executives, signaling confidence in the company. On May 23, 2022, CEO Martin Horgan acquired 65,788 shares at £0.835 each, increasing his total holding to 107,193 shares. CFO Ross Jerrard purchased 67,000 shares at £0.825, bringing his total to 567,000 shares. Additionally, Non-Executive Director Mark Bankes bought 30,000 shares at £0.836, totaling 319,000 shares. These acquisitions demonstrate executive confidence amidst market fluctuations.

Centamin has announced the grant of performance share awards under its Centamin Incentive Plan to its directors and persons discharging managerial responsibilities. These awards are subject to performance conditions and will vest partially or fully after three years, with a holding period extending for two additional years. Key participants include Martin Horgan (979,000 shares), Ross Jerrard (821,000 shares), and Amr Hassouna (492,000 shares). The plan aims to align executive remuneration with shareholder interests and long-term company performance.

Centamin held its Annual General Meeting on May 10, 2022, where all proposed resolutions were approved. Approximately 66% of the 1,156,450,695 eligible ordinary shares were voted. Key resolutions included the adoption of annual accounts, declaration of a final dividend of 5 US cents per share, and approval of director remuneration reports and policies, achieving high approval rates of over 95%. The company also approved the appointment of PricewaterhouseCoopers LLP as auditor and authorized directors to allot relevant securities.