REG - Central Asia Metals - Q1 2024 Operations Update

Central Asia MetalsAnnouncement

09/04/2024 07:00

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RNS Number : 7458J  Central Asia Metals PLC  09 April 2024

 

09 April 2024

 

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Q1 2024 Operations Update

Central Asia Metals plc (AIM: CAML) provides a Q1 2024 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').

Summary

-      Zero lost time injuries ('LTIs') at Kounrad or Sasa

-      Kounrad copper production of 3,120 tonnes

-      Sasa zinc in concentrate production of 4,741 tonnes

-      Sasa lead in concentrate production of 6,529 tonnes

 

Outlook

-      Full year 2024 guidance

o  Copper: 13,000 to 14,000 tonnes

o  Zinc in concentrate: 19,000 to 21,000 tonnes

o  Lead in concentrate: 27,000 to 29,000 tonnes

 

CAML production summary

 Metal production (tonnes)  Q1 2024  Q1 2023
 Copper                     3,120    3,336
 Zinc                       4,741    4,917
 Lead                       6,529    6,618

Nigel Robinson, Chief Executive Officer, commented:

"We have had a good start to 2024 with no LTIs and a solid first quarter of
production at both sites despite some challenging winter weather conditions
and the continued construction activity on site at Sasa.  We have made
significant progress towards the completion of the infrastructure required to
transition to paste fill mining and remain on track for completion during H2
2024.

"Once the construction activity has been completed it will enable the site
team to focus on the operational management of the transition to paste fill
mining and this will facilitate the higher levels of production planned for H2
2024.

"During the quarter, we were pleased to have been able to announce our
intention to invest up to £5 million in Scottish copper and nickel explorer,
Aberdeen Minerals."

Health and Safety

In Q1 2024, there were no LTIs at either Kounrad or Sasa.

Kounrad

Production and sales update

Kounrad Q1 2024 copper production was 3,120 tonnes and copper sales during Q1
2024 were 2,998 tonnes.

Sasa

Production and sales update

In Q1 2024, mined ore and processed ore were 184,127 tonnes and 184,079 tonnes
respectively. The average head grades for the period were 3.00% zinc and 3.75%
lead. Q1 2024 metallurgical recoveries were 85.9% for zinc and 94.7% for
lead.

Sasa produces a zinc concentrate and a separate lead concentrate. In Q1 2024,
9,494 tonnes of concentrate containing 49.9% zinc and 9,177 tonnes of
concentrate containing 71.1% lead were produced.

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, Q1 2024 payable production was 3,982 tonnes of zinc
and 6,202 tonnes of lead. Payable base metal in concentrate sales for the
quarter were 3,840 tonnes of zinc and 6,382 tonnes of lead.

During Q1 2024, Sasa sold 89,933 ounces of payable silver to Osisko Gold
Royalties, in accordance with its streaming agreement.

                             Units    Q1 2024  Q1 2023
 Ore mined                   t        184,127  196,503
 Plant feed                  t        184,079  195,968
 Zinc grade                  %        3.00     2.95
 Zinc recovery               %        85.9     85.2
 Lead grade                  %        3.75     3.59
 Lead recovery               %        94.7     94.2
 Zinc concentrate            t (dry)  9,494    9,716
 -      Grade                %        49.9     50.6
 -      Contained zinc       t        4,741    4,917
 Lead concentrate            t (dry)  9,177    9,282
 -      Grade                %        71.1     71.3
 -      Contained lead       t        6,529    6,618

Capital projects - the transition to paste fill mining

During Q1 2024, the Paste Backfill Plant has operated consistently with the
ongoing placement of paste fill between the 990 and 910 metre levels. The
training of employees for long hole stoping has also been completed.

The construction of the Dry Stack Tailings Plant remains on track with dry
commissioning and the initial placement of filter cake on the engineered
landform scheduled for H2 2024.

A total of 2,894 metres of the Central Decline have now been developed and
connection to the 750 metre level is planned for Q4 2024.

For further information contact:

 Central Asia Metals                             Tel: +44 (0) 20 7898 9001
 Nigel Robinson
 CEO
 Gavin Ferrar
 CFO
 Louise Wrathall                                 louise.wrathall@centralasiametals.com
 Director of Corporate Development
 Emma Chetwynd Stapylton                         emma.chetwyndstapylton@centralasiametals.com
 Investor Relations Manager

 Peel Hunt (Nominated Advisor and Joint Broker)  Tel: +44 (0) 20 7418 8900
 Ross Allister
 David McKeown

 Georgina Langoulant

 BMO Capital Markets (Joint Broker)              Tel: +44 (0) 20 7236 1010
 Thomas Rider
 Pascal Lussier Duquette

 BlytheRay (PR Advisors)                         Tel: +44 (0) 20 7138 3204
 Tim Blythe
 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 100% of the Sasa
zinc-lead mine in North Macedonia. The CAML Exploration subsidiary was
recently formed to progress early exploration opportunities in Kazakhstan.

For further information, please visit www.centralasiametals.com
(http://www.centralasiametals.com/)  and follow CAML on Twitter at
@CamlMetals and on LinkedIn at Central Asia Metals Plc

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