REG - Central Asia Metals - Q1 2023 Operations Update

Central Asia MetalsAnnouncement

12/04/2023 07:00

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RNS Number : 8891V  Central Asia Metals PLC  12 April 2023

 

12 April 2023

 

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Q1 2023 Operations Update

Central Asia Metals plc (AIM: CAML) today provides a Q1 2023 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 ('LTI') at Kounrad or Sasa

-      Kounrad copper production of 3,336 tonnes

-      Sasa zinc in concentrate production of 4,917 tonnes

-      Sasa lead in concentrate production of 6,618 tonnes

 

Outlook

-      Full year 2023 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 2023  Q1 2022
 Copper                     3,336    3,024
 Zinc                       4,917    5,240
 Lead                       6,618    6,736

Nigel Robinson, Chief Executive Officer, commented:

"We have had a solid start to 2023 with no LTIs at either site and a very good
first quarter of production at Kounrad.  We are on target to meet 2023
guidance at both sites.

"We also remain on track with our development projects at Sasa to start the
transition to paste fill mining in H2 2023 and at Kounrad with the
construction of our 4.77MW solar plant."

Health and Safety

In Q1 2023, there were no LTIs at either Kounrad or Sasa.

Kounrad

Production and sales update

Kounrad Q1 2023 copper production was 3,336 tonnes and copper sales during Q1
2023 were 2,914 tonnes.

Sasa

Production and sales update

In Q1 2023, mined and processed ore were 196,503 tonnes and 195,968 tonnes
respectively. The average head grades for the period were 2.95% zinc and 3.59%
lead. Q1 2023 metallurgical recoveries were 85.2% for zinc and 94.2% for
lead.

Sasa produces a zinc concentrate and a separate lead concentrate. In Q1 2023,
9,716 tonnes of concentrate containing 50.6% zinc and 9,282 tonnes of
concentrate containing 71.3% 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 2023 payable production was 4,140 tonnes of zinc
and 6,287 tonnes of lead. Payable base metal in concentrate sales for the
quarter were 4,349 tonnes of zinc and 4,404 tonnes of lead. The additional
lead concentrate stocks as at 31 March 2023 relate to material that has been
contracted to international customers however, not as yet transported to the
port.

During Q1 2023, Sasa sold 56,989 ounces of payable silver to Osisko Gold
Royalties, in accordance with its streaming agreement.

Transition to paste fill - development projects

By the end of Q1 2023, all aspects of the development projects on site at Sasa
to facilitate the transition to paste fill mining in H2 2023 remained on
track.  Dry commissioning of the Paste Backfill Plant will commence in April
2023 and over 1,800 metres of the new Central Decline has been completed.

                             Units    Q1 2023  Q1 2022
 Ore mined                   t        196,503  197,501
 Plant feed                  t        195,968  197,986
 Zinc grade                  %        2.95     3.14
 Zinc recovery               %        85.2     84.3
 Lead grade                  %        3.59     3.65
 Lead recovery               %        94.2     93.3
 Zinc concentrate            t (dry)  9,716    10,519
 -      Grade                %        50.6     49.8
 -      Contained zinc       t        4,917    5,240
 Lead concentrate            t (dry)  9,282    9,488
 -      Grade                %        71.3     71.0
 -      Contained lead       t        6,618    6,736

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

 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
 Rachael Brooks

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.

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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