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Production Update

2 Jul 2012 07:00

RNS Number : 5848G
Central Asia Metals PLC
02 July 2012
 



2 July 2012

 

CENTRAL ASIA METALS PLC

("CAML" or the "Company")

 

 

Production Update from Kounrad Copper Project in Kazakhstan

 

Central Asia Metals plc (AIM:CAML), is pleased to announce its maiden production update from its recently constructed SX-EW copper plant at Kounrad, Kazakhstan. The plant, which was constructed at a capital cost of $40 million, some 15% below budget, commenced production on 29 April 2012. As at 30 June 2012, a total of 1,728 tonnes of cathode copper had been produced of which 1,386 tonnes had been sold and delivered to Traxys Europe SA.

To date physical production of copper cathodes has exceeded management's expectations for this early stage of production as the plant is still under commissioning. The plant is operating in accordance with the design capacity specifications and the assessed quality of the cathode copper has consistently met LME grade A quality standards.

Nick Clarke, Chief Executive Officer commented:

"The commissioning phase of the SX-EW plant is progressing well and several areas of the plant have been operating to 100% of their design capacity. We continue to record higher than expected levels of copper in solution from the leaching process on the dumps albeit this is expected to stabilise over time. I am personally delighted with the initial performance of both the leaching process and the SX-EW plant and am confident we will achieve our 2012 production target of 5,000 tonnes.

We have been developing our relationship with Traxys Europe SA and I am pleased that we have sold and delivered 80% of our first two months' production."

 

Enquiries:

Central Asia Metals plc Nick Clarke +44 (0) 20 7898 9001

Nigel Robinson

 

Canaccord Genuity Limited Andrew Chubb +44 (0)20 7253 8000Rob Collins

 

Mirabaud Securities LLP Peter Krens +44 (0)20 7878 3362

 

Pelham Bell Pottinger Charles Vivian +44 (0)20 7861 3232

Lorna Spears

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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MSCDGGDRDSGBGDB
Date   Source Headline
5th Mar 20125:00 pmRNSHolding(s) in Company
2nd Feb 20127:00 amRNSProject Update and Ownership Increase
12th Dec 20117:00 amRNSOfficial Opening of Kounrad Project
7th Dec 20117:00 amRNSBoard Appointment
29th Nov 20114:40 pmRNSSecond Price Monitoring Extn
29th Nov 20114:35 pmRNSPrice Monitoring Extension
18th Nov 20117:00 amRNSChange of Adviser
27th Oct 20117:00 amRNSAppointment of Independent Non-Executive Director
7th Oct 20114:37 pmRNSGrant of Options
23rd Sep 20117:28 amRNSNotification of Major Interest In Shares
21st Sep 20117:00 amRNSInterim Results 2011
27th May 20111:05 pmRNSRESULTS OF AGM
26th Apr 20113:06 pmRNSBoard Changes
15th Apr 20117:00 amRNSFinancial Results 31 December 2010
15th Mar 20117:00 amRNSKounrad: Operations Update
21st Feb 20117:00 amRNSAgreement reached to sell Tochtar subsidiary
8th Feb 20117:00 amRNSEreen Licence Status Update
8th Dec 20107:00 amRNSUpdate on the Ereen Licence Status
5th Oct 201012:18 pmRNSHolding(s) in Company
4th Oct 20105:46 pmRNSHolding(s) in Company

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