REG - Central Asia Metals - Trading Update and Outlook

Central Asia MetalsAnnouncement

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RNS Number : 6570H  Central Asia Metals PLC  10 June 2026

10 June 2026

Central Asia Metals PLC

(the 'Group', the 'Company' or 'CAML')

Trading Update and Outlook

Central Asia Metals PLC (AIM: CAML) provides a trading update, principally
concerning the Kounrad dump-leach, solvent extraction-electrowinning (SX-EW)
copper operation in Kazakhstan and the Sasa zinc-lead mine in North Macedonia.

Trading update

-    Production for the first five months of 2026 ahead of the
corresponding periods in 2025 in all three metals:

o  Kounrad copper production to end-May of 5,141 tonnes (4,953 tonnes in the
first five months of 2025)

o  Sasa zinc-in-concentrate production to end-May of 7,566 tonnes (7,397
tonnes)

o  Sasa lead-in-concentrate production to end-May of 11,142 tonnes (10,792
tonnes)

-    Average received prices for copper and zinc significantly higher than
in the corresponding period of 2025:

o  Record copper prices contributing to an average received price to end-May
of $13,076 per tonne ($9,377 per tonne in the first five months of 2025)

o  Average received zinc price to end-May of $3,299 per tonne(1) ($2,765 per
tonne)

o  Average received lead price to end-May of $1,934 per tonne ($1,952 per
tonne)

-     Treatment charges for lead concentrates at historically low levels
and have turned negative, boosting Sasa's net revenues

-    Maiden drilling programmes completed at two Group exploration projects
in Kazakhstan, on schedule and within budget

-    Option agreement signed over an additional licence in the Tengiz
Basin, a region of Kazakhstan known to be highly prospective for
sediment-hosted copper mineralisation; new licence targeting multiple
mineralised zones in an area measuring approximately 3 kilometres by 6
kilometres

-    2025 final dividend of 7.5p per share approved by shareholders at
Annual General Meeting in May, payable on 29 June 2026 to shareholders
registered at 5 June 2026

-    As previously disclosed, cash balance at 31 December 2025 of $80.1
million, with minimal debt ($0.9 million overdraft)

Near-term catalysts and outlook

-    H1 2026 operational update scheduled to be released in early July

-    First results from drilling programmes at Group exploration projects
in Kazakhstan expected in Q3 2026

-    H1 2026 financial results to be released in mid-September, along with
declaration of 2026 interim dividend; policy maintained at distributing 30-50%
of adjusted free cash flow

-    Both operations on track to achieve 2026 production guidance:

o  Kounrad copper production of 12,000 to 13,000 tonnes

o  Sasa zinc-in-concentrate production of 18,000 to 20,000 tonnes

o  Sasa lead-in-concentrate production of 26,000 to 28,000 tonnes

-    Kounrad's H2 is typically stronger than H1, owing to the positive
effects of warmer weather on dump-leach operations

-    Sasa improvement programme continues, with the emphasis on
productivity

Gavin Ferrar, Chief Executive Officer, commented:

"We are very excited about the proposed acquisition of Cygnus Metals (ASX:
CY5, TSXV: CYG, OTCQB: CYGGF) and its Chibougamau high-grade copper-gold
project in Quebec, which we announced last week. The transaction combines a
highly cash-generative business with a very prospective copper development
asset, giving both sets of shareholders exposure to a diversified base metals
mining company.

"Meanwhile, CAML has remained focused on its existing operations, with the
emphasis on production efficiency to take full advantage of the high metals
prices we are currently receiving, including record copper prices. H1 2026 is
shaping up to be a highly profitable and cash-generative period for the Group,
supporting our stated dividend policy.

"These metals prices have remained strong despite the challenging geopolitical
backdrop which has impacted equity markets more generally. I am pleased to
report that CAML has thus far not experienced any supply-chain issues with
respect to raw materials and other inputs to our operations, and input prices
remain normal.

"2026 is also proving to be an exciting year for our existing project
pipeline, with maiden drilling programmes at our Group exploration projects in
Kazakhstan, while in Scotland we have funded an additional phase of drilling
at our associate company, Aberdeen Minerals, to test a new target zone at the
Arthrath project.

"I look forward to providing further updates to the market in our H1 2026
operational report in early July."

All dollar amounts in this announcement are US dollars unless otherwise
stated.

 

1. The Group entered into derivative contracts to hedge 50% of Sasa's 2026
payable zinc production, at an average price of $3,011.5 per tonne which is
not reflected in the figure above.

For further information contact:

 Central Asia Metals                             Tel: +44 (0) 20 7898 9001
 Gavin Ferrar
 CEO
 Louise Wrathall
 CFO
 Richard Morgan                                  richard.morgan@centralasiametals.com
 Investor Relations Manager
 Peel Hunt (Nominated Adviser and joint broker)  Tel: +44 (0) 20 7418 8900
 Ross Allister
 David McKeown
 Emily Bhasin
 BMO Capital Markets (joint broker)              Tel: +44 (0) 20 7236 1010
 Thomas Rider
 Pascal Lussier Duquette
 BlytheRay (PR advisers)                         Tel: +44 (0) 20 7138 3204
 Megan Ray                                       CentralAsiaMetals@BlytheRay.com
 Rachael Brooks

Rachael Brooks

 

Note to editors:

Central Asia Metals, an AIM-quoted UK company based in London, owns 100% of
the Kounrad SX-EW copper operation in central Kazakhstan and 100% of the Sasa
zinc-lead mine in North Macedonia. The Company also owns an 80% interest in
CAML Exploration and 100% in CAML XD, two subsidiaries formed to progress
early-stage exploration opportunities in Kazakhstan, and a 32.6% interest in
Aberdeen Minerals Ltd, a privately-owned UK company focused on the exploration
and development of base metals opportunities in northeast Scotland.

For further information, please visit www.centralasiametals.com and follow
CAML on X at @CamlMetals and on LinkedIn at Central Asia Metals Plc

 

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