CENTAMIN MORNING COFFEEWe've never been but, is it kind of like staying at the Luxor in Vegas? Centamin announced a 5% increase in global resources at its Sukari gold project in Egypt to 12.9Moz. The increase was based on assay results from 14,352m of drilling, focused mainly on the deeper parts of the Amun Zone but also on the Pharaoh Zone to the north. Measured and indicated resources increased by 377koz, to 9.4Moz, and inferred resources rose by 174koz, to 3.5Moz. M&I resources now account for 73% of total resources. Canaccord Adams Metals & Mining Analyst Nicholas Chalmers says the resource upgrade, which was based on just four months of drilling, is further evidence that, in our view, Sukari has the potential to grow to a +15Moz resource. The
company's recently completed $69 million equity raise should allow it to continue full exploration activities (eight rigs are currently on site) without compromising its ability to bring the project into production on schedule (mid-2009).
potential to grow to a +15Moz
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