TIDMCAML
RNS Number : 4697P
Central Asia Metals PLC
10 October 2023
10 October 2023
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Q3 2023 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a Q3 2023
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').
Q3 2023 operational summary
- Zero lost time injuries ('LTIs') at Kounrad or Sasa
- Kounrad copper production, 3,661 tonnes
- Sasa zinc in concentrate production, 5,127 tonnes
- Sasa lead in concentrate production, 7,039 tonnes
Outlook
- On track to achieve 2023 full year guidance:
o Copper: 13,000 to 14,000 tonnes
o Zinc in concentrate: 19,000 to 21,000 tonnes
o Lead in concentrate: 27,000 to 29,000 tonnes
CAML production summary
Metal production
(tonnes) Q 3 2023 Q2 2023 Q1 2023 9 m 2023 9 m 2022
Copper 3 ,661 3,380 3,336 10 ,377 1 0,685
--------- -------- -------- --------- ---------
Zinc 5,127 4,847 4,917 14,891 16,211
--------- -------- -------- --------- ---------
Lead 7,039 7,116 6,618 20,773 20,726
--------- -------- -------- --------- ---------
Nigel Robinson, Chief Executive Officer, commented:
"We are pleased to report another solid period of base metal
production during Q3 2023, and we remain on schedule to meet our
full year guidance. Importantly, this production has been delivered
safely as we have reported zero LTIs at both operations.
"During Q3 2023 we reached the impressive milestone of having
generated over $1 billion in revenue from Kounrad in our 11 years
of operations. This is a fantastic achievement from the Kounrad
team, especially given that the copper has all been produced from
waste material.
"As we look towards the end of the year, we will further
progress our investments at Sasa, as well as complete construction
and commissioning of our Kounrad Solar Power Plant, which should
start generating electricity for us before the end of 2023."
Health and Safety
There were no LTIs reported at either Kounrad or Sasa during Q3
2023 and in the nine months to 30 September 2023, there has only
been one Group LTI.
Kounrad
Kounrad Q3 2023 copper production of 3,661 tonnes brings output
for the first nine months of 2023 to 10,377 tonnes. Copper sales
during Q3 2023 were 3,903 tonnes.
Solid progress on the construction of the 4.77MW solar farm was
achieved during Q3 2023 and at the end of the period the physical
installation works were substantially completed. Commissioning of
the facility is expected to commence before the end of October, and
it is forecast that during the coming winter period it will be
contributing around 10% of daily power requirement.
Sasa
In Q3 2023, mined and processed ore were 199,085 tonnes and
199,427 tonnes respectively, bringing the total for the first nine
months of the year to 595,319 tonnes mined and 596,099 tonnes
processed. The average head grades for the Q3 2023 period were 3 .
04 % zinc and 3 . 79 % lead, and for the first nine months of the
year were on average 2 . 94 % and 3 . 74 % respectively. The
average Q3 2023 metallurgical recoveries were 84 . 6 % for zinc and
93 . 1 % for lead.
Sasa produces a zinc concentrate and a separate lead
concentrate. In Q3 2023, 10 , 249 tonnes of concentrate containing
50 . 0 % zinc and 9 , 919 tonnes of concentrate containing 71 . 0 %
lead were produced. This brings total production for the first nine
months of 2023 to 29,506 tonnes of zinc concentrate at a grade of
50 . 5 % and 29,221 tonnes of lead concentrate at a grade of 71 . 1
%.
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 2023 payable production
was 4,307 tonnes of zinc and 6,687 tonnes of lead, bringing total
payable production for the nine-month period to 12,530 tonnes of
zinc and 19,734 tonnes of lead.
Payable base metal in concentrate sales for Q3 2023 were 4,097
tonnes of zinc and 7,252 tonnes of lead.
During Q3 2023, Sasa sold 95,044 ounces of payable silver to
Osisko Gold Royalties, in accordance with its streaming
agreement.
Units Q3 2023 Q 2 2023 Q 1 2023 9m 2023 9m 2022
Ore mined t 199,085 199,731 196,503 595,319 602,587
--------- -------- --------- --------- -------- --------
Plant feed t 199,427 200,705 195,968 596,099 604,478
--------- -------- --------- --------- -------- --------
Zinc grade % 3.04 2 .85 2.95 2 .94 3.16
--------- -------- --------- --------- -------- --------
Zinc recovery % 84.6 8 4.7 85.2 8 4.8 84.9
--------- -------- --------- --------- -------- --------
Lead grade % 3.79 3 .85 3.59 3 .74 3.66
--------- -------- --------- --------- -------- --------
Lead recovery % 93.1 9 2.1 94.2 9 3.1 93.7
--------- -------- --------- --------- -------- --------
Zinc concentrate t (dry) 10,249 9,541 9,716 29,506 32,323
--------- -------- --------- --------- -------- --------
* Grade % 50.0 50.8 50.6 5 0.5 50.2
--------- -------- --------- --------- -------- --------
* Contained zinc t 5,127 4,847 4,917 14,891 16,211
--------- -------- --------- --------- -------- --------
Lead concentrate t (dry) 9,919 1 0,020 9,282 29,221 29,172
--------- -------- --------- --------- -------- --------
* Grade % 71.0 7 1.0 71.3 7 1.1 71.0
--------- -------- --------- --------- -------- --------
* Contained lead t 7,039 7, 116 6,618 20,773 20,726
--------- -------- --------- --------- -------- --------
Phase two of the Central Decline development at depths beneath
the 910 metre level is underway and, as at 30 September 2023, the
decline had been developed down to 860 metres. While Sasa awaits a
component to enable testing of cemented backfill, mining on the 800
metre level that has been prepared for paste fill mining operations
has now commenced. Construction of the dry stack tailings plant
project has commenced, as has land clearance for the dry stack
tailings landform.
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 Tel: +44 (0) 20 7418 8900
Joint Broker)
Ross Allister
David McKeown
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.
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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