Central Asia Metals Plc · LSE:CAML
Central Asia Metals — Investor Presentation (November 2023)
32 slides from Central Asia Metals's investor presentation, November 2023
Slide 1: Q4 2023 Corporate Presentation
Q4 2023 CORPORATE PRESENTATION 1
Slide 2: Disclaimer
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 DISCLAIMER The information contained in this confidential document (“Presentation”) has been prepared by Central Asia Metals plc (the “Company”). It has not been fully verified and is subject to material updating, revision and
Slide 3: CAML Operations
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 CAML OPERATIONS SASA (100%) - Underground zinc and lead mine, northeast North Macedonia - Production commenced in 1960s - Life of mine to 2039 (reserves and resources) - 9m 2023 production, 14,891t zinc and 20,773t lead - 2023
Slide 4: CAML Overview
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 CAML OVERVIEW CREATING VALUE FOR ALL STAKEHOLDERS H1 2023 EBITDA $48.9m Margin 49% H1 2023 H1 2023 H1 2023 DEBT REVENUE LTIFR FREE $99.3m 0.80 H1 2023 H1 2023 CASH FCF H1 2023 $50.6m $24.1m DIVIDEND (Adjusted) 9p 9m 2023 9m 202
Slide 5: Production
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 PRODUCTION 9m 2023 production On track to achieve full year guidance - Copper 10,377t - Copper 13,000–14,000t - Zinc 14,891t - Zinc in concentrate 19,000-21,000t - Lead 20,773t - Lead in concentrate 27,000-29,000t Kounrad coppe
Slide 6: Kounrad Copper Operation
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 KOUNRAD COPPER OPERATION Eastern Dumps 7 5 6 2 Kounrad Mine 20 SX-EW 9-10 plant 13 Western Dumps 21a 15 1a 16 Kounrad Remaining village recoverable resources 22 Eastern Dumps 3,900t Western Dumps 101,000t Total 104,900t 6
Slide 7: H1 2023 Kounrad C1 Copper Cash Cost
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 H1 2023 KOUNRAD C1 COPPER CASH COST H1 H1 H1 H1 H1 2023 C1 cash cost $0.67/lb Cost 2023 2022 2023 2022 $m $m $/lb $/lb $0.04/lb HoH cost increase includes: Reagents 1.6 1.5 0.11 0.10 – Increase in payroll costs by $0.02/lb, agr
Slide 8: Investment & Innovation
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 INVESTMENT & INNOVATION KOUNRAD SOLAR POWER PLANT COMPLETED IN H2 2023 - Kounrad engineering team have completed the construction of 4.77MW unit - Commissioning of the facility has commenced, it is now generating power - During
Slide 9: Sustainability at Kounrad
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SUSTAINABLITY AT KOUNRAD Contributed Employed2 Suppliers Taxation Employment $2.6m 337 staff $11.4m $247.0m 100% to support local spent with local paid in tax to the development projects1 suppliers in Kazakhstan3 Gov. of Kazakh
Slide 10: Sasa Zinc and Lead Mine
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SASA ZINC AND LEAD MINE - Skarn hosted deposit in North Macedonia - Sub-level caving operation, transitioning to paste fill method this year - Reserves and resources to 2039 10
Slide 11: H1 2023 Sasa Run of Mine Costs
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 H1 2023 SASA RUN OF MINE COSTS H1 2023 RoM unit cost $56.2/t H1 H1 H1 H1 C1 cash cost 2023 2022 2023 2022 $10.7/t HoH cost increase, includes: $m $m - Increased labour costs across site, $4.0/t, agreed RoM mine, t 396,234 402,2
Slide 12: Transition to Paste Fill Mining at Sasa
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 INVESTMENT & INNOVATION TRANSITION TO PASTE FILL MINING AT SASA Paste Backfill (PBF) Plant Transition to paste fill mining - Construction of PBF plant materially complete - Paste fill mining method initially on 800m level - Com
Slide 13: Transition to Paste Fill Mining at Sasa
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 INVESTMENT & INNOVATION TRANSITION TO PASTE FILL MINING AT SASA Central Decline Dry Stack Tailings (DST) - 5 m x 5 m decline providing more efficient access - DST Plant project construction has commenced and improved ventilatio
Slide 14: Sustainability at Sasa
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SUSTAINABILITY AT SASA Contributed Employed2 Suppliers Taxation Employment $2.0m 737 staff $54.0m $78.5m 98% to support local paid in tax to the development projects1 spent with local Gov. of North Macedonia1 Local2 suppliers i
Slide 15: Sustainability – Strategy and 2023 Progress
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SUSTAINABILITY – STRATEGY AND 2023 PROGRESS SUSTAINABILITY 2023 AND / OR LONG-TERM TARGET PILLAR During H1 2023, CAML DELIVERING VALUE Zero human rights abuses THROUGH STEWARDSHIP Implement Group-wide supplier screening platfor
Slide 16: Business Development - On a Platform Trusted to Create Stakeholder Value
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 BUSINESS DEVELOPMENT - ON A PLATFORM TRUSTED TO CREATE STAKEHOLDER VALUE DIVIDENDS PAID TO SHAREHOLDERS SINCE 2012 OF $319M Kounrad CAML trusted to find - Equity investment of $60m 350 the right deal - Total capex and innovatio
Slide 17: CAML Business Development Strategy
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 CAML BUSINESS DEVELOPMENT STRATEGY Type of opportunity Affordability H1 2023 summary - Earlier stage exploration - CAML’s strong balance sheet opportunities largely in our with no debt and strong cash local jurisdictions genera
Slide 18: Business Arrangement with Terra Exploration
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 BUSINESS ARRANGEMENT WITH TERRA EXPLORATION EARLY-STAGE EXPLORATION IN KAZAKHSTAN - CAML entered into an arrangement with Kazakh explorers, Terra Exploration - Terra comprises early-stage exploration geologists with significant
Slide 19: Summary and Outlook
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SUMMARY AND OUTLOOK A strong balance sheet - Dependable financial performance - Sector-leading dividend yield - Producing the metals essential for modern living safely and sustainably Capital allocation priorities - H1 2023 div
Slide 20: Contact Details
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 CONTACT DETAILS GROUP INVESTOR RELATIONS MANAGER Emma Chetwynd Stapylton 36 Carnaby Street London W1F 7DR ec@caml.uk +44 (0) 207 898 9001 www.centralasiametals.com
Slide 21: Appendices
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 APPENDICES
Slide 22: Share Price/Shareholders
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SHARE PRICE/SHAREHOLDERS SHARE PRICE PERFORMANCE VERSUS PEERS Share price* (AIM:CAML) 168.6 pence 280 260 Total no. voting shares 181,904,941 240 Treasury shares 193,325 220 Issued shares 182,098,266 200 Market capitalisation £
Slide 23: Board of Directors
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 BOARD OF DIRECTORS Mike Prentis Nick Clarke Nigel Robinson Gavin Ferrar Roger Davey David Swan Senior Independent Director Non-Executive Chairman CEO CFO NED NED Chair - technical experience - accounting experience NED - Nomina
Slide 24: Kounrad Resources and Technology
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 KOUNRAD RESOURCES AND TECHNOLOGY Category Quantity, Grade (%) Contained Mt copper, kt Eastern Dumps Indicated 89.7 0.10 85.8 Inferred 79.6 0.10 81.7 Total 169.3 0.10 167.5 Western Dumps Indicated 296.4 0.10 282.4 Inferred 181.5
Slide 25: Mineral Resource Estimates for Svinja Reka and Golema Reka - Sasa
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 MINERAL RESOURCE ESTIMATES FOR SVINJA REKA AND GOLEMA REKA - SASA Sasa’s technical services team has updated the Mineral Resource Estimate (‘MRE’) for the Svinja Reka deposit as of 31 December 2022. The Golema Reka MRE was upda
Slide 26: Svinja Reka Ore Reserve Statement
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 SVINJA REKA ORE RESERVE STATEMENT The following Ore Reserve Statement has been prepared by Sasa’s technical services team based on a Life of Mine (‘LoM’) plan that includes a transition from the Sub Level Caving mining method t
Slide 27: Market Conditions
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 MARKET CONDITIONS H1 2023 – Commodity prices adversely affected by: – Kazakhstan WHT on intercompany dividend distributions increased from 0% to 10% and MET – Poor economic performance, consumer confidence increased from 5.7% t
Slide 28: H1 2023 Income Statement
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 H1 2023 INCOME STATEMENT EBITDA, $48.9m - margin 49% Highlights H1 H1 % change 2023 2022 – Kounrad Revenue $54.7m Gross revenue, $m 99.3 119.5 -17% – Kounrad EBITDA $39.2m - margin 72% Cost of sales, $m (44.6) (40.6) +10% – Sas
Slide 29: EBITDA H1 2023 vs H1 2022
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 EBITDA H1 2023 VS H1 2022 H1 2023 Cu price H1 2023 9% Pb price lower 48.9 6% lower H1 2023 Zn price 28% lower – c.80% of EBITDA reduction related to weaker commodity prices 29
Slide 30: 30 June 2023 Balance Sheet
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 30 JUNE 2023 BALANCE SHEET Strong balance sheet 30 June 31 Dec 2023, $m 2022, $m PPE 335.2 322.0 – Group cash balance, $50.6m (2022: $60.6m) Intangible assets 26.2 26.6 – Debt free, undrawn working capital facilities available
Slide 31: H1 2023 Capex
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 H1 2023 CAPEX H1 2023 GROUP CASH CAPEX OF $11.3M (H1 2022: $8.0M) Development projects $7.1m, including: 2023E cash capex Sasa $28-30m – Paste Backfill Plant and UG reticulation, $2.1m – Central Decline, $1.4m – Dry Stack Taili
Slide 32: H1 2023 Cashflow
CENTRAL ASIA METALS PLC | Q4 2023 CORPORATE PRESENTATION | NOVEMBER 2023 H1 2023 CASHFLOW H1 23 H1 22 $m $m Net cash generated from 24.1 56.6 $m operating activities 50.6 Plus: interest received 1.0 0.1 Less: sustaining capex (4.2) (4.5) FCF 20.9 52.2 Adjustment for KZ WHT 3.2 - Adjusted FCF 24.1 52
Central Asia Metals — Investor Presentation (November 2023) on 6ix