TIDMCAML
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 Tel: +44 (0) 20 7418 8900
Joint Broker)
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
and follow CAML on Twitter at @CamlMetals and on LinkedIn at
Central Asia Metals Plc
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END
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(END) Dow Jones Newswires
April 12, 2023 02:00 ET (06:00 GMT)
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