Centamin ups reserves view at Egypt gold mine

LONDON (Reuters) - Gold explorer Centamin Egypt CNT.AX said the reserves estimate for its Sukari gold mine in Egypt had increased by 72 percent to 6.4 million ounces.

The firm said on Thursday this marked an increase of 2.7 million ounces from the previously reported 3.7 million ounces in March 2007.

The new reserves were based on drilling up to January 25 and used a gold price of $700 per ounce, it said.

"The ongoing drilling program has been very encouraging, and the company is confident that this will result in further additions to the reserve and resource inventory," said Chief Executive Josef El-Raghy.

(Reporting by Mark Potter, editing by Will Waterman)