https://tools.eurolandir.com/t…-GB&companycode=au-cey&v=
22 April 2021
QUARTERLY Report
for the three months ended 31 March 2021
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HIGHLIGHTS
Operational performance in line with budget
· Gold production from the Sukari Gold Mine ("Sukari") for the first quarter ("Q1"), was 104,047 ounces ("oz"), in line with 2021 guidance
· Record quarterly total material moved of 22.8 million tonnes ("Mt"), driven by improved operating efficiencies and the commencement of the accelerated waste-stripping programme
· Revenue generated of US$190 million from gold sales of 106,573 oz at an average realised gold price of US$1,778/oz sold
· Cash costs of US$733/oz produced and all-in sustaining costs ("AISC") of US$1,091/oz sold
· Group free cash flow of US$9 million, after US$37 million of capital expenditure ("capex") and US$27 million distributed to the Egyptian government in profit share payments and royalties
· Strong balance sheet with no debt, no hedging and cash and liquid assets of US$331 million, as at 31 March 2021
OUTLOOK UNCHANGED
Investing for operating reliability and consistency
· 2021 gold production and cost guidance maintained: 400,000 to 430,000 oz, split equally across H1 and H2 (50:50), at costs of US$800-900/oz produced and AISC of US$1,150- 1,250/oz sold
· 2021 capex guidance maintained: US$225 million, with spend weighted towards H2 (45:55) driven by the Sukari solar project and paste-fill plant construction timelines