08/04/2008
Gold explorer Centamin Egypt has increased its resource at Sukari in the Egyptian desert by 660,000 oz to 8.12 million oz.
That is the new measured and indicated resource figure, reflecting new assay results from 21,000 metres of drilling obtained between December and March and based on work by Australian geo-scientist Nicolas Johnson of consultant Hellman and Schofield. Another 3.5 million oz in the more speculative inferred category takes the total present resource estimate for Sukari to 11.62 million oz of gold.
Based in Perth, Western Australia and quoted on AIM, Centamin says grades at Sukari are low, averaging 1.5 to 1.7 grammes of gold per tonne of ore. But the company, whose managing director is Australian entrepreneur Josef El-Raghy, says drilling has revealed ‘significant’ high-grade samples within the total. This includes 19 metres at 8.03 grammes a tonne, seven metres at 20.58 grammes a tonne, two metres at 49.65 grammes a tonne and one metre at no less than 5,420 grammes a tonne.
First recommended by Growth Company Investor four years ago at 10.25p, Centamin shares hit 78.25p in February. They now stand at 71.25p, up 3.25p this morning, valuing the company at £625 million, and should still be able to outperform several sector peers.
Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.
Related Articles:
|
| 15/10/2008
|
| 06/10/2008
|
| 14/08/2008
|
| 22/07/2008
|
| 19/06/2008
|
People who read this article also read ...
|
| 08/04/2008
|
| 08/04/2008
|
| 07/04/2008
|
| 03/04/2008
|
| 27/03/2008
|
Manage Your Finances
Money, tax and benefits : your official guide.
