Q1 2024 Operations Update

Central Asia Metals PLC
09 April 2024
 

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09 April 2024

 

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Q1 2024 Operations Update

Central Asia Metals plc (AIM: CAML) provides a Q1 2024 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 ('LTIs') at Kounrad or Sasa

-      Kounrad copper production of 3,120 tonnes

-      Sasa zinc in concentrate production of 4,741 tonnes

-      Sasa lead in concentrate production of 6,529 tonnes

 

Outlook

-      Full year 2024 guidance

Copper: 13,000 to 14,000 tonnes

Zinc in concentrate: 19,000 to 21,000 tonnes

Lead in concentrate: 27,000 to 29,000 tonnes

 

CAML production summary

Metal production (tonnes)

Q1 2024

Q1 2023

Copper

3,120

3,336

Zinc

4,741

4,917

Lead

6,529

6,618


Nigel Robinson, Chief Executive Officer, commented:

"We have had a good start to 2024 with no LTIs and a solid first quarter of production at both sites despite some challenging winter weather conditions and the continued construction activity on site at Sasa.  We have made significant progress towards the completion of the infrastructure required to transition to paste fill mining and remain on track for completion during H2 2024.

"Once the construction activity has been completed it will enable the site team to focus on the operational management of the transition to paste fill mining and this will facilitate the higher levels of production planned for H2 2024.

"During the quarter, we were pleased to have been able to announce our intention to invest up to £5 million in Scottish copper and nickel explorer, Aberdeen Minerals."

Health and Safety

In Q1 2024, there were no LTIs at either Kounrad or Sasa.   

Kounrad

Production and sales update

Kounrad Q1 2024 copper production was 3,120 tonnes and copper sales during Q1 2024 were 2,998 tonnes.

Sasa

Production and sales update

In Q1 2024, mined ore and processed ore were 184,127 tonnes and 184,079 tonnes respectively. The average head grades for the period were 3.00% zinc and 3.75% lead. Q1 2024 metallurgical recoveries were 85.9% for zinc and 94.7% for lead. 

Sasa produces a zinc concentrate and a separate lead concentrate. In Q1 2024, 9,494 tonnes of concentrate containing 49.9% zinc and 9,177 tonnes of concentrate containing 71.1% 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 2024 payable production was 3,982 tonnes of zinc and 6,202 tonnes of lead. Payable base metal in concentrate sales for the quarter were 3,840 tonnes of zinc and 6,382 tonnes of lead.

During Q1 2024, Sasa sold 89,933 ounces of payable silver to Osisko Gold Royalties, in accordance with its streaming agreement. 


Units

Q1 2024

Q1 2023

Ore mined

t

184,127

196,503

Plant feed

t

184,079

195,968

Zinc grade

%

3.00

2.95

Zinc recovery

%

85.9

85.2

Lead grade

%

3.75

3.59

Lead recovery

%

94.7

94.2

Zinc concentrate

t (dry)

9,494

9,716

-      Grade

%

49.9

50.6

-      Contained zinc

t

4,741

4,917

Lead concentrate

t (dry)

9,177

9,282

-      Grade

%

71.1

71.3

-      Contained lead

t

6,529

6,618


Capital projects - the transition to paste fill mining

During Q1 2024, the Paste Backfill Plant has operated consistently with the ongoing placement of paste fill between the 990 and 910 metre levels. The training of employees for long hole stoping has also been completed.

The construction of the Dry Stack Tailings Plant remains on track with dry commissioning and the initial placement of filter cake on the engineered landform scheduled for H2 2024.

A total of 2,894 metres of the Central Decline have now been developed and connection to the 750 metre level is planned for Q4 2024.

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 Joint Broker)

Tel: +44 (0) 20 7418 8900

Ross Allister

 

David McKeown

Georgina Langoulant

 

 

 

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

 


 


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. The CAML Exploration subsidiary was recently formed to progress early exploration opportunities in Kazakhstan.

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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