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RNS Number : 4697P Central Asia Metals PLC 10 October 2023
10 October 2023
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Q3 2023 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a Q3 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').
Q3 2023 operational summary
- Zero lost time injuries ('LTIs') at Kounrad or Sasa
- Kounrad copper production, 3,661 tonnes
- Sasa zinc in concentrate production, 5,127 tonnes
- Sasa lead in concentrate production, 7,039 tonnes
Outlook
- On track to achieve 2023 full year 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) Q3 2023 Q2 2023 Q1 2023 9m 2023 9m 2022
Copper 3,661 3,380 3,336 10,377 10,685
Zinc 5,127 4,847 4,917 14,891 16,211
Lead 7,039 7,116 6,618 20,773 20,726
Nigel Robinson, Chief Executive Officer, commented:
"We are pleased to report another solid period of base metal production during
Q3 2023, and we remain on schedule to meet our full year guidance.
Importantly, this production has been delivered safely as we have reported
zero LTIs at both operations.
"During Q3 2023 we reached the impressive milestone of having generated over
$1 billion in revenue from Kounrad in our 11 years of operations. This is a
fantastic achievement from the Kounrad team, especially given that the copper
has all been produced from waste material.
"As we look towards the end of the year, we will further progress our
investments at Sasa, as well as complete construction and commissioning of our
Kounrad Solar Power Plant, which should start generating electricity for us
before the end of 2023."
Health and Safety
There were no LTIs reported at either Kounrad or Sasa during Q3 2023 and in
the nine months to 30 September 2023, there has only been one Group LTI.
Kounrad
Kounrad Q3 2023 copper production of 3,661 tonnes brings output for the first
nine months of 2023 to 10,377 tonnes. Copper sales during Q3 2023 were 3,903
tonnes.
Solid progress on the construction of the 4.77MW solar farm was achieved
during Q3 2023 and at the end of the period the physical installation works
were substantially completed. Commissioning of the facility is expected to
commence before the end of October, and it is forecast that during the coming
winter period it will be contributing around 10% of daily power requirement.
Sasa
In Q3 2023, mined and processed ore were 199,085 tonnes and 199,427 tonnes
respectively, bringing the total for the first nine months of the year to
595,319 tonnes mined and 596,099 tonnes processed. The average head grades for
the Q3 2023 period were 3.04% zinc and 3.79% lead, and for the first nine
months of the year were on average 2.94% and 3.74% respectively. The average
Q3 2023 metallurgical recoveries were 84.6% for zinc and 93.1% for lead.
Sasa produces a zinc concentrate and a separate lead concentrate. In Q3 2023,
10,249 tonnes of concentrate containing 50.0% zinc and 9,919 tonnes of
concentrate containing 71.0% lead were produced. This brings total production
for the first nine months of 2023 to 29,506 tonnes of zinc concentrate at a
grade of 50.5% and 29,221 tonnes of lead concentrate at a grade of 71.1%.
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, Q3 2023 payable production was 4,307 tonnes of zinc
and 6,687 tonnes of lead, bringing total payable production for the nine-month
period to 12,530 tonnes of zinc and 19,734 tonnes of lead.
Payable base metal in concentrate sales for Q3 2023 were 4,097 tonnes of zinc
and 7,252 tonnes of lead.
During Q3 2023, Sasa sold 95,044 ounces of payable silver to Osisko Gold
Royalties, in accordance with its streaming agreement.
Units Q3 2023 Q2 2023 Q1 2023 9m 2023 9m 2022
Ore mined t 199,085 199,731 196,503 595,319 602,587
Plant feed t 199,427 200,705 195,968 596,099 604,478
Zinc grade % 3.04 2.85 2.95 2.94 3.16
Zinc recovery % 84.6 84.7 85.2 84.8 84.9
Lead grade % 3.79 3.85 3.59 3.74 3.66
Lead recovery % 93.1 92.1 94.2 93.1 93.7
Zinc concentrate t (dry) 10,249 9,541 9,716 29,506 32,323
- Grade % 50.0 50.8 50.6 50.5 50.2
- Contained zinc t 5,127 4,847 4,917 14,891 16,211
Lead concentrate t (dry) 9,919 10,020 9,282 29,221 29,172
- Grade % 71.0 71.0 71.3 71.1 71.0
- Contained lead t 7,039 7,116 6,618 20,773 20,726
Phase two of the Central Decline development at depths beneath the 910 metre
level is underway and, as at 30 September 2023, the decline had been developed
down to 860 metres. While Sasa awaits a component to enable testing of
cemented backfill, mining on the 800 metre level that has been prepared for
paste fill mining operations has now commenced. Construction of the dry stack
tailings plant project has commenced, as has land clearance for the dry stack
tailings landform.
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
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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