Q1 2014 Production Update

RNS Number : 9112D

Central Asia Metals PLC

03 April 2014

 



03 April 2014

CENTRAL ASIA METALS PLC

("CAML" or the "Company")

Q1 2014 Production Update

Central Asia Metals plc (AIM: CAML), a copper producing company focused on base metals in Central Asia, today announces the quarterly production update for the Kounrad solvent extraction electrowinning (SX-EW) copper recovery plant in Kazakhstan.

Summary:

·     Q1 2014 production of 1,905 tonnes of copper, up 13.7% on Q1 2013 (1,675 tonnes)

·     Q1 2014 sales of 1,771 tonnes of copper, up 15.7% on Q1 2013 (1,503 tonnes)

·     19,000 tonnes of copper produced in 23 months since the start of operations

Kounrad Q1 2014 production of 1,905 tonnes of copper is 13.7 per cent higher than during the same period in 2013. Production continued as scheduled during the winter months, and remains in line with anticipated seasonal variations in output as well as with the Company's 2014 full year production target of 11,000 tonnes.

Q1 2014 sales of copper were 1,771 tonnes through the Company's off-taker, Traxys.

Kounrad's total copper production output since the start of operations at the end of April 2012 has now exceeded 19,000 tonnes. This has been achieved over a period that included the commissioning and ramp-up of the plant, and two winters during which severe weather conditions were experienced.

For further information contact:

Central Asia Metals plc	Tel: [phone]
Nick Clarke, CEO Nigel Robinson, CFO
Peel Hunt LLP (Nominated Adviser & Joint Broker)	Tel: [phone]
Matthew Armitt Ross Allister
Mirabaud Securities LLP (Joint Broker)	Tel: [phone]
Peter Krens
Bell Pottinger	Tel: [phone]
Mark Antelme Lorna Cobbett

Note to editors:

Central Asia Metals is an AIM-listed UK company based in London. Its countries of operation are Kazakhstan and Mongolia. CAML is a copper producing company focussed on base metals. The Company also has a 50% equity interest in Copper Bay Ltd, which is developing the Chañaral Bay Copper Project in Chile. At the 2014 UK Stock Market Awards, the Company was named Best Basic Resources PLC. For further information please visit: www.centralasiametals.com.

 

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