Centamin estimates that Sukari has recoverable reserves of 1.66 million ounces of gold, representing 25 per cent of the strike length of the ore-bearing Sukari Hill. The company says it expects to add to these reserves through further drilling. Plans call for the project to produce 120,000 ounces a year of gold in the initial phases.
London-based Williams de Broeis acting as adviser and broker for the AIM listing, which is scheduled to be completed by the end of the year. Centamin, headed by Egyptian-born Sami el-Raghy, is also listed on the Australian Stock Exchange.
Companies working on the project include SNC Lavalinof Canada, KC Dodd Consulting Engineers, Dorsch Consultof Germany and the local Environics.