TIDMCAML
RNS Number : 2672O
Central Asia Metals PLC
07 October 2021
7 October 2021
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Q3 2021 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a Q3 2021
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
-- No lost time injuries ('LTIs') at either Kounrad or Sasa during Q3 2021
-- Kounrad
o Q3 2021, 4,146 tonnes of copper produced
o First nine months of 2021, 10,360 tonnes of copper
produced
-- Sasa
o Q3 2021 zinc in concentrate, 5,742 tonnes produced
o Q3 2021 lead in concentrate, 6,927 tonnes produced
o First nine months of 2021 zinc in concentrate, 17,033 tonnes
produced
o First nine months of 2021 lead in concentrate, 20,734 tonnes
produced
Outlook
-- On course to achieve top end of 2021 guidance range for
Kounrad's copper production (12,500 to 13,500 tonnes)
-- On course to achieve lower end of 2021 guidance range for
Sasa's zinc production (23,000 to 25,000 tonnes) and expect lead
production in the order of 5% below guidance (30,000 to 32,000
tonnes)
CAML production summary
Metal production
(tonnes) Q3 2021 Q2 2021 Q1 2021 9m 2021 9m 2020
Copper 4,146 3,334 2,880 10,360 10,490
-------- -------- -------- -------- --------
Zinc 5,742 5,549 5,742 17,033 17,966
-------- -------- -------- -------- --------
Lead 6,927 6,791 7,016 20,734 22,300
-------- -------- -------- -------- --------
Nigel Robinson, Chief Executive Officer, commented:
"I am pleased to report strong production from both of our
operations during Q3 2021. At Kounrad, we remain on track to meet
the top end of our production guidance, and at Sasa, we have
reported improved zinc and lead grades for the period, which have
resulted in higher metal production than the previous quarter. We
expect this trend to continue into Q4, although 2021 production for
lead may be in the order of 5% below our guidance.
"Since reporting our H1 2021 financial results, we have now made
the $10 million accelerated debt repayment, which should mean we
will have reduced our corporate debt facility to zero by August
2022. Given the strength of the Company's balance sheet, CAML is
now more actively assessing potential acquisitions which would be
considered accretive to the business and reviewed a number of
opportunities during the period."
Health and Safety
There were no LTIs at either Kounrad or Sasa during Q3 2021.
Also, there were no medical treatment injuries ('MTIs') at either
operation and therefore zero Group total recordable injuries
('TRIs') during the quarter.
COVID-19 remains a risk to the welfare of CAML employees and
contractors and there have been a few cases of the virus at both
Kounrad and Sasa during the reported period. Despite this, the
Company is confident that its COVID-19 procedures and vaccination
levels at both operations will be sufficient to protect the welfare
of its employees, meet respective government guidance and maintain
production.
Kounrad
Kounrad Q3 2021 copper production of 4,146 tonnes brings output
for the first nine months of 2021 to 10,360 tonnes. Copper sales
during Q3 2021 were 3,956 tonnes, bringing the total for the first
nine months of the year to 10,197 tonnes.
Sasa
In Q3 2021, mined and processed ore were 200,820 tonnes and
203,043 tonnes respectively, bringing the total for the first nine
months of 2021 to 614,807 tonnes of ore mined and 626,906 tonnes of
ore processed. The average head grades for the quarter were 3.30%
zinc and 3.64% lead, and for the first nine months of the year were
3.19% and 3.54% respectively. The average metallurgical recoveries
marginally increased during the period to 85.1% for zinc and 93.4%
for lead.
Sasa produces a zinc concentrate and a separate lead
concentrate. In Q3 2021, 11,433 tonnes of concentrate containing
50.2% zinc and 9,738 tonnes of concentrate containing 71.1% lead
were produced. Total production for the first nine months of the
year was 34,003 tonnes of zinc concentrate at an average grade of
50.1% and 28,856 tonnes of lead concentrate at an average grade of
71.9%.
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 2021 payable production
of zinc was 4,827 tonnes and of lead was 6,580 tonnes, bringing
total payable production for the nine-month period to 14,313 tonnes
of zinc and 19,697 tonnes of lead.
Given that deliveries from Sasa to the smelters occur on a
regular basis, payable base metal in concentrate sales for the
nine-month period were similar at 14,154 tonnes of zinc and 19,630
tonnes of lead.
During the first nine months of 2021, Sasa sold 238,535 ounces
of payable silver to Osisko Gold Royalties, in accordance with its
streaming agreement.
Units Q3 2021 9m 2021 9m 2020
Ore mined t 200,820 614,807 618,240
--------- -------- -------- --------
Plant feed t 203,043 626,906 612,716
--------- -------- -------- --------
Zinc grade % 3.30 3.19 3.41
--------- -------- -------- --------
Zinc recovery % 85.6 85.1 86.1
--------- -------- -------- --------
Lead grade % 3.64 3.54 3.86
--------- -------- -------- --------
Lead recovery % 93.8 93.4 94.2
--------- -------- -------- --------
Zinc concentrate t (dry) 11,433 34,003 35,958
--------- -------- -------- --------
* Grade % 50.2 50.1 50.0
--------- -------- -------- --------
* Contained zinc t 5,742 17,033 17,966
--------- -------- -------- --------
Lead concentrate t (dry) 9,738 28,856 31,005
--------- -------- -------- --------
* Grade % 71.1 71.9 71.9
--------- -------- -------- --------
* Contained lead t 6,927 20,734 22,300
--------- -------- -------- --------
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, as retained in the UK
pursuant to S3 of the European Union (Withdrawal) Act 2018 .
For further information contact:
Central Asia Metals Tel: +44 (0) 20 7898 9001
Nigel Robinson, CEO
Gavin Ferrar, CFO
Louise Wrathall, Director of Corporate louise.wrathall@centralasiametals.com
Relations
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
Blytheweigh (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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