Business
Financial Results 31 December 2010
Financial Results 31 December 2010.
About this update from Central Asia Metals Plc
[{"type":"text","content":"\n \nRNS Number : 9602E Central Asia Metals PLC 15 April 2011 \n \n\n15 April 2011\n \nCENTRAL ASIA METALS PLC\n \nFinancial Results for the year ended 31 December 2010\nCentral Asia Metals PLC (\"CAML\" or the \"Company\"), (AIM:CAML), a mining exploration and development company focused on base and precious metals in Central Asia, announces its financial results for the year ended 31 December 2010.\nHighlights:\n· Successful listing on AIM on 30 September 2010 raising $60.3million\n· Cash balances of $47.4million as at 31 December 2010 and no outstanding debt\n· Construction of the SXEW plant at Kounrad commenced in July 2010 and is on schedule for completion and production in Q4 2011\n· Capital expenditure of $4.4million spent at Kounrad with further commitments of $4.3million as at 31 December 2010\n· Licence extension for Alag Bayan to April 2012\n· 30 year mining licence awarded for the Ereen gold project\n· Sale of Tochtar completed after year end\nNick Clarke, Chief Executive Officer of CAML, commented:\n\"We are pleased to report our first year of results as a public listed company, with the highlight of the year being our successful listing on AIM. The Company has sufficient cash balances to undertake the construction of the Kounrad SX-EW copper plant, which is well advanced and will be completed and in production by the end of 2011.\nWe look forward to the next financial year as the Company undertakes the development necessary to target initial production at the Kounrad SX-EW copper plant and provide positive cash flow for the company.\"\nEnquiries:\n\n\n\n\nCentral Asia Metals\nNick Clarke (CEO) / Nigel Robinson (CFO)\n\n\n \n+44 (0)20 7183 5402\n\n\n\n\n \nKPMG Corporate Finance\nNOMAD: Susan Walker\n\n\n \n \n +44 (0)20 7311 1000\n\n\n\n\n \nMirabaud Securities LLP\nBroker: Peter Krens\n\n\n \n \n+44 (0)20 7321 2508\n\n\n\n\n \nPelham Bell Pottinger\nCharles Vivian / Lorna Spears\n\n\n \n \n+44 (0)20 7861 3232\n\n\n\n\n\n\n \nChairman and Chief Executive's statement \n \nDear Shareholders\n2010 was a year of transitio...