Gold output from its Sukari mine, its only producing asset, totalled 91,546 ounces in the December quarter, seven percent up from the same three months a year earlier and eight percent higher than production in the September quarter. This contributed to full-year production of 356,943 ounces from Sukari, which beat 2012’s total by 36 percent. The company’s 2013 guidance for Sukari had been at 320,000 ounces.
“Full-year production is ahead of guidance, as indicated in the September quarter results, and we look forward to delivering a further successive year of growth in 2014 as the plant expansion drives the continued ramp-up towards our 450,000-500,000 ounces per year long-term target,” said chairman Josef El-Raghy.
Situated on the Arabian-Nubian Shield, which covers the north-east African countries of Egypt, Ethiopia, Eritrea, Sudan and Saudi Arabia, Sukari's life-of-mine is estimated at around 18 years at present, based on its proven and probable gold reserves of 10.1 million ounces. Sukari has 13.13 million ounces of measured and indicated resources and 2.3 million ounces of Inferred resources. These are expected to grow further through exploration.
