Q3 2019 Operations Update

RNS Number : 0471P

Central Asia Metals PLC

08 October 2019

 

8 October 2019

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Q3 2019 Operations Update

Central Asia Metals plc (AIM: CAML) today provides a Q3 2019 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').

Highlights

-      Production on track to meet full year guidance for copper, zinc and lead

-      Q3 2019 Kounrad

§ Copper produced, 4,039 tonnes

-      Q3 2019 Sasa

§ Zinc in concentrate produced, 6,186 tonnes

§ Lead in concentrate produced, 7,362 tonnes

CAML production summary

Metal production (tonnes)	Q3 2019	9m 2019	9m 2018
Copper	4,039	10,633	10,686
Zinc	6,186	17,703	16,762
Lead	7,362	21,718	21,988

Nigel Robinson, Chief Executive Officer, commented:

"I am pleased that we have once again delivered on track production from Sasa and Kounrad, and to report that we have had no lost time injuries at either operation during Q3 2019."

Kounrad

Kounrad Q3 2019 copper production of 4,039 tonnes brings output for the first nine months of 2019 to 10,633 tonnes. Total Kounrad copper production since operations commenced in 2012 is now 93,107 tonnes. 

Total copper recovered from the Western Dumps in 2019 so far is 7,219 tonnes, equating to approximately 68% of the amount plated.

During Q3 2019, preparations for the forthcoming winter operating period were substantially completed. Capital works focussed on the extension of collector trenches around Dump 22, and modifications to the diameter of pipelines transferring solutions from the Western Dumps to the solvent extraction facility.

Copper sales during Q3 2019 were 3,614 tonnes, bringing the total for the first nine months of the year to 10,075 tonnes.

Sasa

In Q3 2019, mined and processed ore totalled 207,016 tonnes and 210,237 tonnes respectively, bringing the total for the first nine months of 2019 to 607,267 tonnes of ore mined and 614,777 tonnes of ore processed. The average head grades for the quarter were 3.37% zinc and 3.71% lead, and for the first nine months of 2019 were on average 3.31% and 3.74% respectively. The average 2019 metallurgical recoveries to 30 September were 86.9% for zinc and 94.4% for lead.

Sasa produces a zinc concentrate and a separate lead concentrate. In Q3 2019, 12,385 tonnes of concentrate containing 50.0% zinc and 10,245 tonnes of concentrate containing 71.9% lead were produced. Total production for the first nine months of 2019 was 35,690 tonnes of zinc concentrate at an average grade of 49.6% and 29,965 tonnes of lead concentrate at an average grade of 72.5%.   

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 2019 payable production of zinc was 5,195 tonnes and of lead was 6,993 tonnes, bringing total 2019 payable production to 30 September to 14,847 tonnes of zinc and 20,632 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 14,831 tonnes of zinc and 20,649 tonnes of lead.

During the first nine months of 2019, Sasa sold 254,617 ounces of payable silver to Osisko Gold Royalties, in accordance with its streaming agreement. 

During Q3 2019, the construction and lining of Tailings Storage Facility 4 ('TSF4') were completed.

	Units	Q3 2019	9m 2019	9m 2018
Ore mined	t	207,016	607,267	597,338
Plant feed	t	210,237	614,777	599,619
Zinc grade	%	3.37	3.31	3.31
Zinc recovery	%	87.3	86.9	84.5
Lead grade	%	3.71	3.74	3.91
Lead recovery	%	94.4	94.4	93.7
Zinc concentrate	t (dry)	12,385	35,690	34,282
-      Grade	%	50.0	49.6	48.9
-      Contained zinc	t	6,186	17,703	16,762
Lead concentrate	t (dry)	10,245	29,965	30,167
-      Grade	%	71.9	72.5	72.9
-      Contained lead	t	7,362	21,718	21,988

For further information contact:

Central Asia Metals	Tel: [phone]
Nigel Robinson, CEO
Gavin Ferrar, CFO
Louise Wrathall, Investor Relations	[e-mail]
Peel Hunt (Nominated Advisor and Joint Broker)	Tel: [phone]
Ross Allister
James Bavister
David McKeown
BMO Capital Markets (Joint Broker)	Tel: [phone]
Jeff Couch
Thomas Rider
Neil Elliot
Blytheweigh (PR Advisors)	Tel: [phone]
Tim Blythe
Camilla Horsfall
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.

For further information, please visit:  www.centralasiametals.com and https://twitter.com/CamlMetals

 

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