The owners of Australian-based Centamin Egypt Ltd have disclosed plans to list the company on the London Stock Exchange's Alternative Investment Market before year’s end, a company release revealed.
Centamin, which is already listed on the Australian Stock Exchange, explores and develops gold and associated mineral projects in three concession areas located in Egypt’s eastern desert, spreading over 4,500 square kilometers of ground.
The company hopes to use some of the cash from the listing to produce a bankable feasibility for Sukari, one of its Egyptian projects, following a preliminary feasibility study by Centamin in November 2000. Sukari currently has a recoverable resource of 1.66 million ounces of gold representing approximately 25 percent of the strike length of the Sukari Hill.
The Sukari mine was operational over 50 years ago. Centamin would now like to create an open pit project at the site, to produce at least 120,000 ounces of gold annually. — (menareport.com)
© 2001 Mena Report (www.menareport.com )