Central Asia Metals PLC 2012 Production Update (1185V)
09 Gennaio 2013 - 8:00AM
UK Regulatory
TIDMCAML
RNS Number : 1185V
Central Asia Metals PLC
09 January 2013
7.00 a.m. 9 January 2013
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
2012 Production Update
Highlights:
-- Kounrad 2012 production of 6,586 tonnes of copper
-- 6,383 tonnes of copper sold in 2012
o 6,063 tonnes sold through the Company's offtake arrangements
with Traxys
o 320 tonnes sold locally in Kazakhstan
-- CAML Group cash balance as at 31 December 2012 of $37.5 million
Kounrad Production Update
The total output for the year endied 31 December 2012, which
comprised only eight months of actual production following the
completion of the construction phase in late April 2012, was 6,586
tonnes of copper. The revised 2012 production target of 5,750
tonnes was exceeded by over 14%.
6,383 tonnes of copper were sold during the period of which
6,063 tonnes were sold through the Company's off-take arrangements
with Traxys and 320 tonnes sold locally in Kazakhstan.
Despite the onset of winter, with December dawn temperatures
averaging -19 degrees Celsius and an 8 day period when it averaged
-32 degrees Celsius, copper production was maintained on site and
is continuing at a steady state. Q4 2012 production at the SX-EW
plant was 2,117 tonnes, once again exceeding the Company's
expectations.
Nick Clarke, Chief Executive Officer commented:
"2012 has proved to be a very successful first period of
production for the Company at Kounrad and I am particularly pleased
that we have been able to continue the production of copper
cathodes in the challenging weather conditions experienced from
November 2012.
The production of 6,586 tonnes of copper in 2012 is a tremendous
achievement and reflects the hard work, dedication and
professionalism of our staff on site. Our Kounrad production
objectives for 2013 are focussed on an output of 10,000 tonnes of
cathode copper and to maintain tight control on costs.
During Q1 2013 we will publish a JORC compliant resource
statement for Kounrad as well as continuing with the preparation
and feasibility work to facilitate a decision on a potential second
SX-EW plant at Kounrad in 2013."
Enquiries:
Central Asia Metals plc Nick Clarke +44 (0) 20 7898 9001
Nigel Robinson
Canaccord Genuity Limited Andrew Chubb +44 (0)20 7253 8000
Rob Collins
Mirabaud Securities LLP Peter Krens +44 (0)20 7878 3362
Pelham Bell Pottinger Charles Vivian +44 (0)20 7861 3232
Lorna Spears
Notes to Editors
Central Asia Metals plc ("CAML" or the "Company") is an
AIM-listed UK company based in London. Its countries of operation
are Kazakhstan and Mongolia. CAML is a copper production, precious
and base metals exploration and development company with majority
stakes in copper, gold and molybdenum projects. The Company
announced its maiden dividend in December 2012.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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