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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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