Last checked at 4 Apr 2017 07:00
4 April 2017
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Q1 2017 Production Update
Central Asia Metals plc (AIM: CAML) today provides a Q1 2017 production update for the Kounrad dump leach, solvent extraction and electro-winning ("SX-EW") copper recovery plant in Kazakhstan ("Kounrad").
Summary:
· | Q1 2017 copper production of 3,357 tonnes (Q1 2016: 3,207 tonnes) |
· | Q1 2017 copper sales of 2,839 tonnes (Q1 2016: 2,550 tonnes) |
· | On schedule to commence leaching from Western Dumps, April 2017 |
· | On track to achieve 2017 production guidance of between 13,000 and 14,000 tonnes |
Kounrad Q1 2017 copper production of 3,357 tonnes is 4.7% higher than that achieved in Q1 2016. Copper sales during Q1 2017 were 2,839 tonnes (+11.3% vs. Q1 2016), and these sales were predominantly through the Company's offtake partner, Traxys.
During the quarter, CAML carried out a piping modification that allowed the operation of a hybrid intermediate leaching circuit, enabling a higher overall recovery of copper from the covered winter blocks. The impact on the pregnant leach solution ("PLS") grade into the SX-EW plant was positive and resulted in record copper output for the month of February of 1,074 tonnes, a 24% increase on February 2016 production.
Kounrad's copper continued to be of a high quality, with the renewal of 850 cathodes in the EW facility as partial replacement of the circuit inventory undertaken during the quarter. A further 1,400 pieces are expected on site in July and will be fitted shortly thereafter, thus completing the first five year replacement programme of all anodes and cathodes.
Final preparations were undertaken on the Western Dumps pipeline and pumping system in readiness for commissioning of the Stage 2 Expansion in April 2017.
Taking seasonal variations into account, the Company is on track to achieve its 2017 copper production guidance of between 13,000 and 14,000 tonnes.
For further information contact:
Central Asia Metals plc
Nick Clarke, Executive ChairmanNigel Robinson, CFOLouise Wrathall, Investor Relationslouise.wrathall@centralasiametals.com
| Tel: +44 (0) 20 7898 9001 |
Peel Hunt (Nominated Adviser & Joint Broker)
Matthew Armitt Ross Allister
| Tel: +44 (0) 20 7418 8900 |
Mirabaud Securities (Joint Broker)
Peter Krens
| Tel: +44 (0) 20 7878 3362 |
Bell Pottinger (PR Advisers)
Lorna CobbettAarti IyerMarianna Bowes
| Tel: +44 (0) 20 3772 2500 |
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in Kazakhstan. The Company also has a 75% equity interest in Copper Bay Ltd, which is a private company that has conducted a definitive feasibility study at its copper project in Chañaral Bay, Chile. In November 2016, Central Asia Metals signed a framework agreement to acquire an effective 80% interest in the Shuak copper exploration property in northern Kazakhstan. For further information, please visit www.centralasiametals.com.