Centamin director stocks up following increased gold production

29th Aug 2012 16:08

Senior Independent Non-Executive Director at Centamin, Gordon Edward Haslam, purchased 52,056 shares in the Egypt-focused gold miner on Wednesday. Haslam purchased the shares at 76p each for a total of £39,563, taking his total holding to 102,056 shares. The transaction comes two weeks after the firm unveiled record levels of second-quarter output. During the period gold production rose to 67,422 ounces at the Sukari Gold Mine, located in the Eastern Desert of Egypt, a 40% increase on production in the second quarter of 2011. Production was also up sharply from the first quarter 2012 level of 49,071 ounces. Cash costs of $565 per ounce in the second quarter were up from $498 the year before but below the $609 an ounce level in the preceding quarter. With production and the average sale prices both up, revenue surged to $96.8m from $77.9m in the second quarter of last year, but earnings before interest, tax, depreciation and amortisation (EBITDA) declined to $54.9m from $59.6m last year. The share price has fallen more than 26% in the past year, but is up more than 11% in the past month. Top Director BuysCentamin (DI) (CEY) Director name: Mr Gordon Edward HaslamAmount purchased: 52,056 @ 76.00p Value: £39,563Games Workshop Group (GAW) Director name: Mr Kevin RountreeAmount purchased: 5,000 @ 670.00p Value: £33,500Avanti Capital (AVA) Director name: Mr Richard KleinerAmount purchased: 40,000 @ 70.00p Value: £28,000CQS Rig Finance Fund Ltd. (RIG) Director name: Mr Michael J L SalterAmount purchased: 50,000 @ 31.00p Value: £15,500CML Microsystems (CML) Director name: Mr George William GurryAmount purchased: 4,000 @ 281.00p Value: £11,240Top Director SellsMurray International Trust (MYI) Director name: Ms Marcia CampbellAmount sold: 2,639 @ 995.00p Value: £26,258Tristel (TSTL) Director name: Mr Peter F H StephensAmount sold: 50,000 @ 35.00p Value: £17,500