Central Asia Metals reports steady operational progress

8th Apr 2025 11:23

(Sharecast News) - Central Asia Metals reported steady operational performance in the first quarter of 2025 on Tuesday, as it reiterated full-year production guidance across its copper, zinc and lead operations.

The AIM-traded company also highlighted progress on capital projects and exploration activities.

At the Kounrad copper recovery plant in Kazakhstan, CAML said first-quarter copper output totalled 2,852 tonnes.

Meanwhile, the Sasa mine in North Macedonia produced 4,603 tonnes of zinc-in-concentrate and 6,608 tonnes of lead-in-concentrate during the quarter.

The firm recorded no lost time injuries at either site.

CAML confirmed that its full-year production guidance remained unchanged, with targets of 13,000 to 14,000 tonnes of copper, 19,000 to 21,000 tonnes of zinc-in-concentrate and 27,000 to 29,000 tonnes of lead-in-concentrate.

At Sasa, the newly constructed dry stack tailings (DST) plant became operational by the end of the quarter, and was now ramping up to full capacity.

The company said it also continued transitioning to paste-fill mining and brought the Central Decline into operation as part of its broader investment in long-term mine development.

In exploration, CAML noted encouraging initial results from drilling at the Arthrath base-metals project in Scotland, in which it holds a 28.4% interest through Aberdeen Minerals.

A further phase of drilling was scheduled to begin in the second quarter.

CAML also reiterated that completing a material transaction remained a strategic focus.

"I am pleased to report another quarter of safe, reliable production from our operations," said chief executive officer Gavin Ferrar.

"Despite a somewhat harsher winter than we experienced last year, Kounrad maintained 100% operational availability; and Sasa continued with its transition to new mining methods and the modernisation of its tailings disposal systems.

"Notably, at the end of the quarter, Sasa produced the first filter cake from its DST plant."

Ferrar said the project was the third and final element of the company's capital projects programme, adding that it looked forward to "bedding down the projects" this year and returning Sasa's production towards levels achieved before the programme's implementation.

"I am particularly encouraged by the tonnages mined and processed during the quarter.

"Our business development activities continued apace during the period, with a number of opportunities evaluated, several of which remain active.

"Meanwhile, CAML X, our exploration subsidiary in Kazakhstan, secured two additional licences during the period; and our associate in Scotland, Aberdeen Minerals, received encouraging results from its 2024 drilling campaign."

CAML anticipated further positive news from the projects during the rest of the year, Gavin Ferrar added.

At 1103 BST, shares in Central Asia Metals were up 2.3% at 151.2p.

Reporting by Josh White for Sharecast.com.