Central Asia Metals PLC Q1 2017 Production Update (4426B)
April 04 2017 - 1:00AM
UK Regulatory
TIDMCAML
RNS Number : 4426B
Central Asia Metals PLC
04 April 2017
4 April 2017
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Q1 2017 Production Update
Central Asia Metals plc (AIM: CAML) today provides a Q1 2017
production update for the Kounrad dump leach, solvent extraction
and electro-winning ("SX-EW") copper recovery plant in Kazakhstan
("Kounrad").
Summary:
-- Q1 2017 copper production of 3,357 tonnes (Q1 2016: 3,207 tonnes)
-- Q1 2017 copper sales of 2,839 tonnes (Q1 2016: 2,550 tonnes)
-- On schedule to commence leaching from Western Dumps, April 2017
-- On track to achieve 2017 production guidance of between 13,000
and 14,000 tonnes
Kounrad Q1 2017 copper production of 3,357 tonnes is 4.7% higher
than that achieved in Q1 2016. Copper sales during Q1 2017 were
2,839 tonnes (+11.3% vs. Q1 2016), and these sales were
predominantly through the Company's offtake partner, Traxys.
During the quarter, CAML carried out a piping modification that
allowed the operation of a hybrid intermediate leaching circuit,
enabling a higher overall recovery of copper from the covered
winter blocks. The impact on the pregnant leach solution ("PLS")
grade into the SX-EW plant was positive and resulted in record
copper output for the month of February of 1,074 tonnes, a 24%
increase on February 2016 production.
Kounrad's copper continued to be of a high quality, with the
renewal of 850 cathodes in the EW facility as partial replacement
of the circuit inventory undertaken during the quarter. A further
1,400 pieces are expected on site in July and will be fitted
shortly thereafter, thus completing the first five year replacement
programme of all anodes and cathodes.
Final preparations were undertaken on the Western Dumps pipeline
and pumping system in readiness for commissioning of the Stage 2
Expansion in April 2017.
Taking seasonal variations into account, the Company is on track
to achieve its 2017 copper production guidance of between 13,000
and 14,000 tonnes.
For further information contact:
Central Asia Metals plc Tel: +44 (0) 20 7898 9001
Nick Clarke, Executive Chairman
Nigel Robinson, CFO
Louise Wrathall, Investor Relations
louise.wrathall@centralasiametals.com
Peel Hunt (Nominated Adviser & Tel: +44 (0) 20 7418 8900
Joint Broker)
Matthew Armitt
Ross Allister
Mirabaud Securities (Joint Broker) Tel: +44 (0) 20 7878 3362
Peter Krens
Bell Pottinger (PR Advisers) Tel: +44 (0) 20 3772 2500
Lorna Cobbett
Aarti Iyer
Marianna Bowes
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London,
owns 100% of the Kounrad SX-EW copper project in Kazakhstan. The
Company also has a 75% equity interest in Copper Bay Ltd, which is
a private company that has conducted a definitive feasibility study
at its copper project in Chañaral Bay, Chile. In November 2016,
Central Asia Metals signed a framework agreement to acquire an
effective 80% interest in the Shuak copper exploration property in
northern Kazakhstan. For further information, please visit
www.centralasiametals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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