Business
Q1 2016 Production Update
Q1 2016 Production Update.
About this update from Central Asia Metals Plc
[{"type":"text","content":"\n \nRNS Number : 3847U Central Asia Metals PLC 07 April 2016 \n\n7 April 2016\n \n \nCENTRAL ASIA METALS PLC\n(\"CAML\" or the \"Company\")\n \nQ1 2016 Production Update\n \n \nCentral Asia Metals plc (AIM: CAML) today provides a Q1 2016 production update for the Kounrad dump leach, solvent extraction and electro-winning (SX-EW) copper recovery plant in Kazakhstan (\"Kounrad\").\n \nSummary:\n \n\n\n\n\n· \n\n\nQ1 2016 copper production of 3,207 tonnes of copper (Q1 2015: 2,350 tonnes)\n\n\n\n\n· \n\n\nQ1 2016 copper sales of 2,550 tonnes (Q1 2015: 2,233 tonnes)\n\n\n\n\n· \n\n\nOn track to achieve 2016 production guidance of between 13,000 and 14,000 tonnes\n\n\n\n\n· \n\n\nStage 2 Expansion - Western Dumps, groundworks commenced\n\n\n\n\n \n \nKounrad Q1 2016 copper production of 3,207 tonnes is 36.5% higher than that achieved in Q1 2015. This increase is due in part to mild winter conditions and the completion of the Stage 1 Expansion of the SX-EW plant, which CAML delivered on schedule and below budget in Q2 2015. Taking seasonal variations into account, the company is on track to achieve its 2016 production guidance of between 13,000 and 14,000 tonnes. Copper sales during Q1 2016 were 2,550 tonnes (+14% YoY), and these sales were predominantly through the company's offtake partner, Traxys.\n \nIn March 2016, CAML commenced groundworks on the Stage 2 Expansion, which will enable the company to leach copper from the larger resource within the Western Dumps. The 12km 10kv over-head power line and sub-station are complete, and a significant portion of all process equipment and pipes has been delivered to site. CAML is on schedule to achieve first production from the Western Dumps in H1 2017 and the estimated capital expenditure remains at US$19.5 million.\n \n \nFor further information contact:\n\n\n\n\n \nCentral Asia Metals plc\n\n\n \nTel: +44 (0) 20 7898 9001\n\n\n\n\nNick Clarke, CEO\nNigel Robinson, CFO\nLouise Wrathall, Investor Relations\[email protected]\n\n\n \n\n\n\n\n \nPeel Hunt LLP (Nominated Adviser & Joint Broker)\n\n\n \nTel: +44 (0) 20 7418 8900\n\...