In an update on Tuesday, the company reported that the Sukari proven and probable reserves have increased by 5% to 6 million oz. at 1.1 g/t after 12 months of mining depletion. This included adding 800,000 oz. of mineral reserves before mining depletion.
Of the additional reserves, 400,000 oz. were added within the open pit at an average gold grade of 1.0 g/t. Another 400,000 oz. were added within the underground at an average gold grade of 3.9 g/t, representing an 11% improvement and further supporting Centamin’s plan to increase the underground mining rate to 1.5Mtpa.
“Our improved geological understanding has resulted in meaningful growth of both resources and reserves at unchanged cut-off grades. The open-pit mineral reserve gain replaced annual depletion for the first time since 2015, while the underground mineral reserves of 1.2 million oz. represents a threefold increase since 2020, net of mining depletion, which further…
