10th Jul 2019 10:20
LONDON (Alliance News) - Central Asia Metals PLC on Wednesday reported "another" half of good performance, with the firm on track to meet annual production guidance.
For the first half, CAML produced 6,594 tonnes of copper from the Kounrad project in Kazakhstan, down 2.3% year-on-year. Second quarter production improved 23% on the first quarter.
Interim zinc output was 11,517 tonnes and lead 14,357 tonnes, 4.5% higher and 0.2% lower year-on-year respectively. CAML mines both commodities from the Sasa mine in North Macedonia.
Chief Executive Nigel Robinson said: "Today's update demonstrates another period of consistent delivery from our low-cost Sasa and Kounrad operations, and we are pleased to be on track to meet our 2019 production guidance for all three base metals.
"We look forward to reporting our first half 2019 financial results on September 17."
CAML's 2019 production guidance sees between 12,500 tonnes and 13,500 tonnes of copper, and between 22,000 tonnes and 24,000 tonnes of zinc and 28,000 tonnes to 30,000 tonnes of lead at Sasa.
In 2018, Kounrad output was 14,049 tonnes, and Sasa produced 22,532 tonnes of zinc and 29,388 tonnes of lead.
Shares were 1.3% higher on Wednesday morning in London at a price of 203.00 pence each.
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