Q1 2021 Operations Update

RNS Number : 2048V

Central Asia Metals PLC

13 April 2021

 

13 April 2021

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Q1 2021 Operations Update

Central Asia Metals plc (AIM: CAML) today provides a Q1 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

-  One lost time injury ('LTI') at Sasa

-  Kounrad copper production, 2,880 tonnes

-  Sasa zinc in concentrate production, 5,742 tonnes

-  Sasa lead in concentrate production, 7,016 tonnes

Outlook

-  Full year 2021 guidance

o  Copper, 12,500 to 13,500 tonnes

o  Zinc in concentrate, 23,000 to 25,000 tonnes

o  Lead in concentrate, 30,000 to 32,000 tonnes

CAML production summary

Metal production (tonnes)	Q1 2021	Q1 2020
Copper	2,880	3,201
Zinc	5,742	6,127
Lead	7,016	7,607

Nigel Robinson, Chief Executive Officer, commented:

"We are pleased with our production achievements during these cold winter months but were disappointed to record a lost time injury at Sasa at the end of March 2021, having previously achieved 786 days without an incident."

Health and Safety

One LTI was recorded at Sasa in March 2021 as a miner injured his finger. There were no LTIs at Kounrad during the period.

COVID-19 remains a risk to the welfare of CAML employees and contractors. While there has been no marked increase in COVID-19 diagnoses in and around the Kounrad operation, there has been a larger number of cases at Sasa and in the nearby towns, coinciding with improving weather and therefore greater social interaction.

Kounrad

Kounrad Q1 2021 copper production was 2,880 tonnes, with 100% of the metal leached from the Western Dumps during the winter period for the first time. Copper sales during Q1 2021 were 2,875 tonnes.

Sasa

In Q1 2021, mined and processed ore were 207,704 tonnes and 210,413 tonnes respectively. In February, there was a period of unplanned mill maintenance, which resulted in a loss of production for up to four days. The average head grades for the period were 3.23% zinc and 3.57% lead. Q1 2021 metallurgical recoveries were 84.5% for zinc and 93.5% for lead. 

Sasa produces a zinc concentrate and a separate lead concentrate. In Q1 2021, 11,521 tonnes of concentrate containing 49.8% zinc and 9,730 tonnes of concentrate containing 72.1% 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 2021 payable production was 4,821 tonnes of zinc and 6,665 tonnes of lead. Given that deliveries from Sasa to the smelters occur on a regular basis, payable base metal in concentrate sales for the quarter were similar at 4,779 tonnes of zinc and 6,686 tonnes of lead.

During Q1 2021, Sasa sold 78,227 ounces of payable silver to Osisko Gold Royalties, in accordance with its streaming agreement. 

	Units	Q1 2021	Q1 2020
Ore mined	t	207,704	207,788
Plant feed	t	210,413	210,664
Zinc grade	%	3.23	3.37
Zinc recovery	%	84.5	86.4
Lead grade	%	3.57	3.82
Lead recovery	%	93.5	94.5
Zinc concentrate	t (dry)	11,521	12,315
-  Grade	%	49.8	49.8
-  Contained zinc	t	5,742	6,127
Lead concentrate	t (dry)	9,730	10,560
-  Grade	%	72.1	72.0
-  Contained lead	t	7,016	7,607

For further information contact:

Central Asia Metals	Tel: [phone]
Nigel Robinson, CEO
Gavin Ferrar, CFO
Louise Wrathall, Director of Corporate Relations	[e-mail]
Peel Hunt (Nominated Advisor and Joint Broker)	Tel: [phone]
Ross Allister
David McKeown
BMO Capital Markets (Joint Broker)	Tel: [phone]
Thomas Rider
Pascal Lussier Duquette
Blytheweigh (PR Advisors)	Tel: [phone]
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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