7 April 2015
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Q1 2015 Production Update
Central Asia Metals plc (AIM: CAML), a copper producing company, today provides a quarterly update for the Kounrad dump leach, solvent extraction and electro-winning (SX-EW) copper recovery plant in Kazakhstan.
Summary:
· Q1 2015 production of 2,350 tonnes of copper, up 23% on Q1 2014 (1,905 tonnes)
· Q1 2015 sales of 2,233 tonnes of copper, up 26% on Q1 2014 (1,771 tonnes)
· On track to achieve 2015 production target of 13,000 tonnes of copper
· Commissioning of additional SX-EW facility to commence ahead of schedule and within budget
· Over 30,000 tonnes of copper produced since start of operations
Kounrad Q1 2015 production of 2,350 tonnes of copper is 23 per cent higher than the same period in 2014. The increase is largely due to the expanded boiler-house capacity to 14MW, facilitating higher solution volume treatment rates during winter months. The production remains in line with anticipated seasonal variations in output as well as with the Company's 2015 full year production target of 13,000 tonnes. Q1 2015 sales of copper were 2,233 tonnes through the Company's off-take agreement with Traxys.
The Stage 1 expansion of the Kounrad SX-EW plant, to increase capacity to a rate of 15,000 tonnes per annum, is progressing ahead of schedule with construction work nearing completion. The commissioning of the additional SX-EW facility is expected to start at the end of April 2015. Design and permitting procedures for the Stage 2 expansion out to the western dumps continue as scheduled, with the ordering of equipment and materials expected to commence in late Q3 2015 in preparation for site construction activity to start in Q1 2016.
Kounrad's total copper production output since the start of operations at the end of April 2012 has now exceeded 30,000 tonnes.
For further information contact:
Central Asia Metals plc |
Tel: +44 (0) 20 7898 9001 |
Nick Clarke, CEO Nigel Robinson, CFO |
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Peel Hunt LLP (Nominated Adviser & Joint Broker) |
Tel: +44 (0) 20 7418 8900 |
Matthew Armitt Ross Allister |
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Mirabaud Securities LLP (Joint Broker) |
Tel: +44 (0) 20 7878 3362 |
Peter Krens |
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Bell Pottinger |
Tel: +44 (0) 20 3772 2500 |
Lorna Cobbett |
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Note to editors:
Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper facility in Kazakhstan. The Company also has a 53% equity interest in Copper Bay Ltd, which is a private company conducting a pre-feasibility study of the Chañaral Bay Copper Project in Chile. At the 2014 UK Stock Market Awards, CAML was named Best Basic Resources Plc. For further information, please visit www.centralasiametals.com.
