Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Centamin PLC Is Well Managed, But Still Too Risky

Editors' Note: This article covers a micro-cap stock. Please be aware of the risks associated with these stocks.

This article is about Centamin PLC (OTCPK:CELTF). Centamin has a market capitalization of $600 million. It currently operates the Sukari gold project, of which it owns 50%. It also has some minor exploration properties in Ethiopia, as well as roughly $130 million in cash and equivalents and $220 million in current assets.

Centamin has managed the Sukari gold project exceptionally well, given that it has seen rising production and a reduction in costs. It has been in production since June, 2009. In 2010, the mine's first full year of production, it produced 150,000 ounces. It is slated to produce 320,000...

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