Business
H1 2023 Operations Update
H1 2023 Operations Update.
About this update from Central Asia Metals Plc
[{"type":"text","content":"\n\n\n11 July 2023\n \nCENTRAL ASIA METALS PLC\n('CAML' or the 'Company') H1 2023 Operations Update\nCentral Asia Metals plc (AIM: CAML) today provides a H1 2023 operations update for the Kounrad dump leach, solvent extraction and electro-winning ('SX-EW') copper recovery plant in Kazakhstan ('Kounrad') and the Sasa zinc-lead mine in North Macedonia ('Sasa').\nH1 2023 operational summary\n- Zero lost time injuries ('LTIs') at Kounrad\n- One LTI at Sasa\n- Kounrad copper production, 6,716 tonnes\n- Sasa zinc in concentrate production, 9,764 tonnes\n- Sasa lead in concentrate production, 13,734 tonnes\n \nGroup cash\n \n- Cash in the bank on 30 June 2023, $50.6 million\n \nOutlook\n \n- On track to achieve 2023 full year guidance:\no Copper: 13,000 to 14,000 tonnes\no Zinc in concentrate: 19,000 to 21,000 tonnes\no Lead in concentrate: 27,000 to 29,000 tonnes\n \nCAML production summary\n\n\n\nMetal production (tonnes)\n\n\nQ2 2023\n\n\nQ1 2023\n\n\nH1 2023\n\n\nH1 2022\n\n\n\n\nCopper\n\n\n3,380\n\n\n3,336\n\n\n6,716\n\n\n6,617\n\n\n\n\nZinc\n\n\n4,847\n\n\n4,917\n\n\n9,764\n\n\n10,465\n\n\n\n\nLead\n\n\n7,116\n\n\n6,618\n\n\n13,734\n\n\n13,827\n\n\n\n\nNigel Robinson, Chief Executive Officer, commented:\n\"We are pleased to report a positive start to 2023 with strong production across the Group, meaning we are on track to meet guidance. I am particularly proud to mention that Kounrad achieved over 4 million LTI free hours by the end of H1 2023, an outstanding achievement for an operation with a relatively small workforce.\n\"On 27 May 2023, we witnessed the joining of the Central Decline at Sasa which was developed both from surface and the 910 metre level. Wet commissioning of the Paste Backfill Plant has begun and the ground works for the Dry Stack Tailings Plant are underway.\n\"Benefitting from our low production costs, CAML continues to generate enviable cash flow and has a strong balance sheet with US$50.6 million in cash and no debt. This enables us to continue to pay some of the highest dividends in the sector whilst actively considering various business development o...