Central Asia Metals PLC Q3 2017 Operations Update (4795S)
03 Ottobre 2017 - 8:00AM
UK Regulatory
TIDMCAML
RNS Number : 4795S
Central Asia Metals PLC
03 October 2017
3 October 2017
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Q3 2017 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a Q3 2017
operations update for the Kounrad dump leach, solvent extraction
and electro-winning ("SX-EW") copper recovery plant in Kazakhstan
("Kounrad") and an exploration update for the Shuak property
("Shuak").
Summary:
-- Q3 2017 copper production, 3,842 tonnes (Q3 2016: 4,102 tonnes)
-- Q3 2017 copper cathode sales, 3,795 tonnes (Q3 2016: 4,291 tonnes)
-- On course to achieve upper end of 2017 production guidance of
between 13,000 and 14,000 tonnes
-- Shuak drilling programme nearing completion
-- Proposed acquisition of Lynx Resources
Kounrad Q3 2017 production
Kounrad Q3 copper production of 3,842 tonnes brings output for
the first nine months of 2017 to 10,869 tonnes.
In April 2017, the Company began irrigating the Western Dumps
and, during Q3 2017, 2,179 tonnes of copper cathode have been
recovered. Cumulatively, 3,480 tonnes of copper have now been
recovered from the Western Dumps, representing 46% of total Q2 and
Q3 production since this area has been under leach.
Q3 2017 copper cathode sales of 3,795 tonnes bring the nine
month total to 10,665 tonnes. The copper was sold predominantly
through CAML's offtake partner, Traxys.
Shuak
CAML is nearing completion of its 2017 Shuak drilling programme.
The core hydrotransport (CHT) drilling programme has finished, with
17,500 metres having been drilled, and the 5,200 metre diamond
drilling programme is 90% complete. To date, almost 11,000 samples
have been sent to the laboratory.
Proposed acquisition of Lynx Resources
On 22 September 2017, CAML announced its intention to acquire
Lynx Resources, owner of the Sasa zinc-lead mine in Macedonia, and
associated $153.5 million equity issue to part-finance the $402.5
million acquisition. Completion of this transaction is expected in
Q4 2017.
Nick Clarke, Executive Chairman, commented:
"Kounrad's Q3 copper output demonstrates that we are on course
to achieve annual production towards the upper end of the 13,000 to
14,000 tonne guidance range. We are pleased that copper production
from the Western Dumps is also in line with our expectations. The
acquisition of Lynx Resources will be transformational for CAML,
creating a diversified and low cost base metals business, and we
look forward to integrating the operations of the Sasa mine in Q4
2017."
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 & Joint Broker) Tel: +44 (0) 20 7418 8900
Matthew Armitt
Ross Allister
Mirabaud Securities (Joint Broker) Tel: +44 (0) 20 3167 7221
Peter Krens
Blytheweigh (PR Advisers) Tel: +44 (0) 20 7138 3204
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. The Company also owns 80% of the Shuak copper
exploration property in northern Kazakhstan. The company's proposed
acquisition of Lynx Resources is expected to complete in Q4 2017.
For further information, please visit
www.centralasiametals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDLLFVRIDLFIID
(END) Dow Jones Newswires
October 03, 2017 02:00 ET (06:00 GMT)
Grafico Azioni Central Asia Metals (LSE:CAML)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Central Asia Metals (LSE:CAML)
Storico
Da Lug 2023 a Lug 2024