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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
21st May 20157:00 amRNSKounrad Expansion Update
20th May 20154:30 pmRNSPosting Notice of Meeting and Dividend Timetable
23rd Apr 20157:31 amRNSDirector Shareholding
23rd Apr 20157:30 amRNSGrant of Options
21st Apr 20154:48 pmRNSAnnual Report and Accounts 2014
15th Apr 201511:21 amRNSProposed Share Premium Cancellation& result of EGM
7th Apr 20157:00 amRNSQ1 2015 Production Update
30th Mar 20157:01 amRNSCircular and Notice of EGM
30th Mar 20157:00 amRNS2014 Full Year Results
16th Mar 201511:43 amRNSNotice of Results
10th Feb 20154:40 pmRNSSecond Price Monitoring Extn
10th Feb 20154:35 pmRNSPrice Monitoring Extension
15th Jan 20157:30 amRNSTransaction in Own Shares
6th Jan 20157:00 amRNS2014 Production Update and 2015 Outlook
24th Dec 201410:58 amRNSTransaction in Own Shares
26th Nov 20147:30 amRNSDirector's Interest in Shares
24th Oct 201411:30 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
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9th Oct 20147:00 amRNSGrant of Options
3rd Oct 20147:00 amRNSQ3 2014 Production Update
1st Oct 20147:00 amRNSDirector's Interest in Shares
25th Sep 20147:00 amRNSInterim Results for the 6 Months Ended 30 June 14
28th Aug 201412:25 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
31st Jul 201412:11 pmRNSExercise of Warrants
24th Jul 20147:00 amRNSAllotment and issue of shares
18th Jul 20146:14 pmRNSTransaction in Own Shares
17th Jul 20146:25 pmRNSExercise of Options and Transaction in Own Shares
2nd Jul 20144:36 pmRNSShare Pledge by a Director
2nd Jul 20147:00 amRNSQ2 2014 Production and Capacity Expansion Update
1st Jul 20147:00 amRNSExercise of Warrants
16th Jun 20141:47 pmRNSBoard Changes and Results of AGM
3rd Jun 201412:50 pmRNSGrant of Options
27th May 20146:06 pmRNSTR-1 NOTIFICATION OF MAJOR INTEREST IN SHARES
27th May 20146:06 pmRNSTR-1 Notification of Major Interest in Shares
27th May 201411:43 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
23rd May 20144:53 pmRNSTR:1- Notification of major interest in shares
23rd May 201412:01 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
20th May 20147:00 amRNSKounrad Transaction Completion and Expansion Plans
19th May 20144:03 pmRNSAnnual Report and Accounts 2013 and Notice of AGM
14th May 20145:20 pmRNSTR-1: Notification of Major Interest in Shares
16th Apr 20147:00 amRNS2013 Full Year Results
8th Apr 201410:30 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
2nd Apr 20147:00 amRNSNotice of Results
28th Mar 201412:57 pmRNSAward Win
28th Mar 201412:14 pmRNSKounrad Transaction Update
28th Mar 201410:43 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
10th Mar 20147:00 amRNSChange of Adviser
14th Feb 20145:33 pmRNSTransaction in Own Shares
13th Jan 20147:59 amRNSDirector's Interest in Shares
7th Jan 20147:00 amRNSProduction Update and Outlook

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