Business
Q3 2017 Operations Update
Q3 2017 Operations Update.
About this update from Central Asia Metals Plc
[{"type":"text","content":"\n \nRNS Number : 4795S Central Asia Metals PLC 03 October 2017 \n\n3 October 2017\n \nCENTRAL ASIA METALS PLC\n(\"CAML\" or the \"Company\")\nQ3 2017 Operations Update\nCentral Asia Metals plc (AIM: CAML) today provides a Q3 2017 operations update for the Kounrad dump leach, solvent extraction and electro-winning (\"SX-EW\") copper recovery plant in Kazakhstan (\"Kounrad\") and an exploration update for the Shuak property (\"Shuak\").\nSummary:\n· Q3 2017 copper production, 3,842 tonnes (Q3 2016: 4,102 tonnes)\n· Q3 2017 copper cathode sales, 3,795 tonnes (Q3 2016: 4,291 tonnes)\n· On course to achieve upper end of 2017 production guidance of between 13,000 and 14,000 tonnes\n· Shuak drilling programme nearing completion \n· Proposed acquisition of Lynx Resources \n \nKounrad Q3 2017 production\nKounrad Q3 copper production of 3,842 tonnes brings output for the first nine months of 2017 to 10,869 tonnes. \nIn April 2017, the Company began irrigating the Western Dumps and, during Q3 2017, 2,179 tonnes of copper cathode have been recovered. Cumulatively, 3,480 tonnes of copper have now been recovered from the Western Dumps, representing 46% of total Q2 and Q3 production since this area has been under leach. \nQ3 2017 copper cathode sales of 3,795 tonnes bring the nine month total to 10,665 tonnes. The copper was sold predominantly through CAML's offtake partner, Traxys. \nShuak\nCAML is nearing completion of its 2017 Shuak drilling programme. The core hydrotransport (CHT) drilling programme has finished, with 17,500 metres having been drilled, and the 5,200 metre diamond drilling programme is 90% complete. To date, almost 11,000 samples have been sent to the laboratory.\nProposed acquisition of Lynx Resources\nOn 22 September 2017, CAML announced its intention to acquire Lynx Resources, owner of the Sasa zinc-lead mine in Macedonia, and associated $153.5 million equity issue to part-finance the $402.5 million acquisition. Completion of this transaction is expected in Q4 2017.\nNick Clarke, Executive Chairman, commented:\n\"Kounrad's Q3 copper output demonstrates that we are on course to achieve annual production towards the upper end of the 13,000 to 14,000 tonne guidance range. We are plea...