TIDMCAML
RNS Number : 9959E
Central Asia Metals PLC
10 July 2019
10 July 2019
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
H1 2019 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a H1 2019
operations update for the Kounrad dump leach, solvent extraction
and electro-winning ('SX-EW') copper recovery plant in Kazakhstan
('Kounrad') and the Sasa zinc-lead mine in North Macedonia
('Sasa').
Highlights
- Production on track to meet full year guidance for copper, zinc and lead
o H1 2019 Kounrad
-- Copper produced, 6,594 tonnes
o H1 2019 Sasa
-- Zinc in concentrate produced, 11,517 tonnes
-- Lead in concentrate produced, 14,357 tonnes
- Cash in the bank on 30 June 2019, $30.2 million
- Gross debt on 30 June 2019, $126.4 million
CAML production summary
Metal production Q2 2019 Q1 2019 H1 2019 H1 2018
(tonnes)
Copper 3,642 2,952 6,594 6,747
-------- -------- -------- --------
Zinc 5,878 5,639 11,517 11,020
-------- -------- -------- --------
Lead 7,145 7,212 14,357 14,386
-------- -------- -------- --------
Nigel Robinson, Chief Executive Officer, commented:
"Today's update demonstrates another period of consistent
delivery from our low cost Sasa and Kounrad operations, and we are
pleased to be on track to meet our 2019 production guidance for all
three base metals. We look forward to reporting our H1 2019
financial results on 17 September 2019."
Kounrad
Kounrad Q2 2019 copper production of 3,642 tonnes brings output
for the first six months of 2019 to 6,594 tonnes. Total Kounrad
copper production since operations commenced in 2012 is now 89,068
tonnes.
Total copper recovered from the Western Dumps in H1 2019 is
4,738 tonnes, equating to approximately 70% of the amount
plated.
Copper sales during H1 2019 were 6,461 tonnes.
Sasa
In Q2 2019, mined and processed ore were 202,415 tonnes and
205,051 tonnes respectively, bringing the H1 2019 total to 400,251
tonnes of ore mined and 404,540 tonnes of ore processed. The
average head grades for the Q2 2019 period were 3.31% zinc and
3.68% lead, and for H1 2019 were on average 3.28% and 3.76%
respectively. The average H1 2019 metallurgical recoveries were
86.7% for zinc and 94.4% for lead.
Sasa produces a zinc concentrate and a separate lead
concentrate. In Q2 2019, 11,859 tonnes of concentrate containing
49.6% zinc and 9,850 tonnes of concentrate containing 72.5% lead
were produced. Total H1 2019 production was 23,306 tonnes of zinc
concentrate at an average grade of 49.4% and 19,720 tonnes of lead
concentrate at an average grade of 72.8%.
Sasa typically receives from smelters approximately 84% of the
value of its zinc in concentrate and approximately 95% of the value
of its lead in concentrate. Accordingly, Q2 2019 payable production
of zinc was 4,929 tonnes and of lead was 6,788 tonnes, bringing
total payable production for H1 2019 to 9,652 tonnes of zinc and
13,639 tonnes of lead. Given that deliveries from Sasa to the
smelters occur on a regular basis, payable base metal in
concentrate sales for the six-month period were similar at 9,708
tonnes of zinc and 13,731 tonnes of lead.
During H1 2019, Sasa sold 169,623 ounces of payable silver to
Osisko Gold Royalties, in accordance with its streaming
agreement.
Units Q2 2019 Q1 2019 H1 2019 H1 2018
Ore mined t 202,415 197,836 400,251 390,932
--------- -------- --------- -------- --------
Plant feed t 205,051 199,489 404,540 393,605
--------- -------- --------- -------- --------
Zinc grade % 3.31 3.26 3.28 3.34
--------- -------- --------- -------- --------
Zinc recovery % 86.7 86.8 86.7 83.8
--------- -------- --------- -------- --------
Lead grade % 3.68 3.84 3.76 3.91
--------- -------- --------- -------- --------
Lead recovery % 94.7 94.0 94.4 93.5
--------- -------- --------- -------- --------
Zinc concentrate t (dry) 11,859 11,447 23,306 22,624
--------- -------- --------- -------- --------
* Grade % 49.6 49.3 49.4 48.7
--------- -------- --------- -------- --------
* Contained zinc t 5,878 5,639 11,517 11,020
--------- -------- --------- -------- --------
Lead concentrate t (dry) 9,850 9,870 19,720 19,712
--------- -------- --------- -------- --------
* Grade % 72.5 73.1 72.8 73.0
--------- -------- --------- -------- --------
* Contained lead t 7,145 7,212 14,357 14,386
--------- -------- --------- -------- --------
Cash and gross debt
As of 30 June 2019, CAML had cash in the bank of $30.2 million
and gross debt of $126.4 million.
For further information contact:
Central Asia Metals Tel: +44 (0) 20 7898 9001
Nigel Robinson, CEO
Gavin Ferrar, CFO
Louise Wrathall, Investor Relations louise.wrathall@centralasiametals.com
Peel Hunt (Nominated Advisor and Tel: +44 (0) 20 7418 8900
Joint Broker)
Ross Allister
James Bavister
David McKeown
BMO Capital Markets (Joint Broker) Tel: +44 (0) 20 7236 1010
Jeff Couch
Thomas Rider
Neil Elliot
Blytheweigh (PR Advisors) Tel: +44 (0) 20 7138 3204
Tim Blythe
Camilla Horsfall
Megan Ray
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London,
owns 100% of the Kounrad SX-EW copper project in central Kazakhstan
and the Sasa zinc-lead mine in North Macedonia.
For further information, please visit: www.centralasiametals.com
and https://twitter.com/CamlMetals
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END
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