Central Asia Metals (CAML)

Sector:

Mining

Index:

FTSE AIM 50

193.20p
   
  • Change Today:
    -4.00p
  • 52 Week High: 229.50
  • 52 Week Low: 152.80
  • Currency: UK Pounds
  • Shares Issued: 181.90m
  • Volume: 196,935
  • Market Cap: £351.44m

Central Asia Metals meets fourth-quarter production guidance

By Josh White

Date: Monday 22 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Central Asia Metals updated the market on fourth-quarter performance at the Kounrad dump leach, solvent extraction and electro-winning (SX-EW) copper recovery plant in Kazakhstan on Thursday, as well as the Sasa zinc-lead mine in North Macedonia.
The AIM-traded firm said it achieved several significant milestones in 2023, including zero lost time injuries (LTIs) at the Kounrad plant and one at the Sasa mine.

Copper production at Kounrad reached 13,816 tonnes, positioning it towards the upper end of the guidance range.

Meanwhile, zinc and lead production at the Sasa mine fell within the middle of the guidance range, with zinc concentrate production totalling 20,338 tonnes and lead concentrate production reaching 27,794 tonnes.

The company also marked the completion of the Kounrad solar power plant, which was now generating renewable energy for its operations, contributing to sustainability efforts.

It added that the Central Decline at Sasa in North Macedonia was now operational, while the construction of the Sasa paste backfill plant was complete and operational.

Additionally, Central Asia Metals secured a new exploration licence in Kazakhstan aimed at targeting mid-scale copper deposits.

The firm ended 2023 with a cash balance of $57.2m.

Looking ahead to 2024, Central Asia Metals outlined expectations of copper production ranging from 13,000 to 14,000 tonnes, zinc in concentrate production between 19,000 to 21,000 tonnes, and lead in concentrate production expected to be within the range of 27,000 to 29,000 tonnes.

The company anticipated the completion of the dry stack tailings plant and initial landform in the first half of 2024.

Additionally, Central Asia Metals said it was poised to reduce carbon emissions in 2024, thanks to the contribution of solar power from the newly operational Kounrad facility.

The firm also planned to intensify exploration activities in Kazakhstan through its subsidiary, CAML Exploration, as it continued to prioritise business development.

"I am pleased to report steady, safe and reliable production from both of our operations during 2023," said chief executive officer Nigel Robinson.

"At Kounrad we had a strong year, achieving copper production towards the top end of our guidance range and, most importantly, in a safe environment with 2,054 days since the last lost-time injury.

"At Sasa, we achieved production at the middle of our guidance range whilst also delivering on the construction of the required infrastructure to commence the transition to the paste-fill mining methods."

Robinson said the construction of the dry stack tailings plant and landform had started, and would be a key focus for 2024.

"At Kounrad, I was delighted to officially open the solar power plant in November.

"It is anticipated that this facility will provide 16% to 18% of the site's electrical needs on an annualised basis and reduce Kounrad's scope one and two emissions by 10% versus 2020.

"We look forward to delivering another year of safe and reliable base metals production at our operations and looking for further opportunities to grow the business.

"We were delighted to have received confirmation in December that one of our new licence applications for our target generation exploration programme in Kazakhstan had been granted and we look forward to a full exploration season this year."

Central Asia Metals said its annual results were scheduled to be released on 25 March, when its final dividend would also be announced.

At 1331 GMT, shares in Central Asia Metals were up 0.82% at 172.4p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

CAML Market Data

Currency UK Pounds
Share Price 193.20p
Change Today -4.00p
% Change -2.03 %
52 Week High 229.50
52 Week Low 152.80
Volume 196,935
Shares Issued 181.90m
Market Cap £351.44m

CAML Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.00% above the market average67.00% above the market average67.00% above the market average67.00% above the market average67.00% above the market average
43.51% below the sector average43.51% below the sector average43.51% below the sector average43.51% below the sector average43.51% below the sector average
Price Trend
21.60% above the market average21.60% above the market average21.60% above the market average21.60% above the market average21.60% above the market average
46.76% above the sector average46.76% above the sector average46.76% above the sector average46.76% above the sector average46.76% above the sector average
Income
94.93% above the market average94.93% above the market average94.93% above the market average94.93% above the market average94.93% above the market average
72.73% above the sector average72.73% above the sector average72.73% above the sector average72.73% above the sector average72.73% above the sector average
Growth
70.81% below the market average70.81% below the market average70.81% below the market average70.81% below the market average70.81% below the market average
38.98% below the sector average38.98% below the sector average38.98% below the sector average38.98% below the sector average38.98% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CAML Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 28-Sep-23
Paid 22-May-24 20-Oct-23
Amount 9.00p 9.00p

Trades for 18-Jul-2024

Time Volume / Share Price
16:36 51 @ 193.20p
16:35 42,140 @ 193.20p
16:35 235 @ 193.20p
16:35 267 @ 193.20p
16:35 210 @ 193.20p

CAML Key Personnel

CEO Nigel Robinson
CFO Gavin Ferrar

Top of Page