Central Asia Metals Plc · LSE:CAML
Central Asia Metals — H1 2024 Earnings Presentation
32 slides from Central Asia Metals's earnings presentation, Sep 10, 2024
Slide 1: H1 2024 Results
H1 2024 RESULTS 10 September 2024 1
Slide 2: Disclaimer
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 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 f
Slide 3: H1 2024 Results Summary
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 RESULTS SUMMARY CREATING VALUE FOR ALL OUR STAKEHOLDERS CASH EBITDA $56.3m $49.1m DEBT FREE MARGIN 47% GROSS REVENUE INTERIM DIVIDEND $103.8m 9p LOST TIME INJURY FREE CASH FLOW FREQUENCY RATE $30.0m 0.80 3
Slide 4: Succession Planning
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SUCCESSION PLANNING EFFECTIVE 1 OCTOBER 2024 ‒ Nigel Robinson will step down as Chief Executive Officer (‘CEO’), having successfully led the business for over six years ‒ CAML's current Chief Financial Officer ('CFO'), Gavin Fer
Slide 5: Operations
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 OPERATIONS
Slide 6: CAML Operations
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 CAML OPERATIONS SASA (100%) - Underground zinc and lead mine, northeast North Macedonia. Production commenced in 1960s - Life of mine to 2039 (reserves and resources) - H1 2024 production 9,014t zinc-in-concentrate and 12,872t l
Slide 7: H1 2024 Operational Highlights: Kounrad
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 OPERATIONAL HIGHLIGHTS KOUNRAD - H1 2024 production 6,608t of copper cathode - On track to meet full-year 2024 production guidance Remaining recoverable copper of 13,000–14,000t of copper 98,000t1 1At end 2023 Kounrad co
Slide 8: H1 2024 Operational Highlights: Sasa
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 OPERATIONAL HIGHLIGHTS SASA - H1 2024 production 9,014t zinc-in-concentrate and 12,872t lead-in-concentrate Unit H1 2024 H1 2023 - Full-year 2024 production expected towards the lower end of guidance of 19,000-21,000t of
Slide 9: Sasa Zinc and Lead Mine: Transition to Paste Fill Mining
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SASA ZINC AND LEAD MINE TRANSITION TO PASTE FILL MINING AT SASA Paste Backfill Plant Dry Stack Tailings Central Decline ‒ Consistent operation during H1 ‒ Completion of initial phase of ‒ Connection made with the 800- 2024 landf
Slide 10: Sustainability – Strategy and Progress
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SUSTAINABILITY – STRATEGY AND PROGRESS PILLAR TARGET During H1 2024, CAML DELIVERING VALUE Zero human rights abuses THROUGH Zero cases of bribery and corruption - Published its fifth annual STEWARDSHIP Sustainability Report Impl
Slide 11: Sustainability at Kounrad
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SUSTAINABILITY AT KOUNRAD H1 2024 SUSTAINABILITY ACTIVITY EMPLOYMENT ‒ No Lost Time Injuries at Kounrad since May 2018 ‒ Solar Power Plant operational throughout the 100% LOCAL period, generating 4.4 million kWh representing 336
Slide 12: Sustainability at Sasa
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SUSTAINABILITY AT SASA H1 2024 SUSTAINABILITY ACTIVITY EMPLOYMENT ‒ One Lost Time Injury recorded during the period ‒ 100% renewable energy supplied via the national 98% LOCAL grid 784 EMPLOYEES ‒ Achieved conformance with Globa
Slide 13: Financial Results
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 FINANCIAL RESULTS
Slide 14: Market Conditions
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 MARKET CONDITIONS Commodity markets Inflation impacts – Generally higher commodity prices in H1 2024 owing – Inflation rates slowed to 8.4% in Kazakhstan and to: 3.2% in North Macedonia. Nevertheless, continued inflation resulte
Slide 15: H1 2024 Income Statement
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 INCOME STATEMENT EBITDA $49.1m - margin 47% Highlights ($m) H1 H1 2024 2023 Change - Gross revenue 4% higher YoY Gross revenue 103.8 99.3 +4% – Kounrad gross revenue $59.1m (H1 2023: $54.7m) – Sasa gross revenue $44.7m (
Slide 16: EBITDA H1 2024 vs H1 2023
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 EBITDA H1 2024 VS H1 2023 49.1 16
Slide 17: H1 2024 Kounrad C1 Copper Cash Cost
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 KOUNRAD C1 COPPER CASH COST H1 2024 C1 cash cost $0.78/lb Cost H1 2024 H1 2023 H1 2024 H1 2023 (H1 2023: $0.67/lb) $m $m $/lb $/lb $0.11/lb YoY increase includes: Reagents 2.0 1.6 0.13 0.11 – increase in price of reagent
Slide 18: H1 2024 Sasa Run-of-Mine Costs
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 SASA RUN-OF-MINE COSTS H1 2024 RoM unit costs $63.1/t H1 H1 H1 H1 C1 cash cost 2024 2023 2024 2023 (H1 2023: $56.2/t) $m $m $6.9/t YoY increase, owing to: RoM t 365,652 396,234 – reduction in RoM ore extracted by 30,582t
Slide 19: H1 2024 Capex
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 CAPEX GROUP CAPEX OF $8.3M (H1 2023: $11.3M) Capital Projects $3.1m including: 2024E total capex Sasa $22-25m – Dry Stack Tailings Plant and landform construction $1.2m – Paste Backfill Plant and associated costs $0.6m –
Slide 20: 30 June 2024 Balance Sheet
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 30 JUNE 2024 BALANCE SHEET Flexible balance sheet 30 June 31 Dec Balance sheet ($m) 2024 2023 PPE 326.2 338.1 – Completed the investment in associate Aberdeen Minerals Ltd acquiring a 28.7% shareholding Intangible assets 23.9 25
Slide 21: H1 2024 Cashflow
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 H1 2024 CASHFLOW H1 2024 FCF of $30.0m 56.3 21
Slide 22: Capital Allocation / Outlook
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 CAPITAL ALLOCATION/ OUTLOOK
Slide 23: Growth Opportunities
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 GROWTH OPPORTUNITIES SEARCH FOR TRANSFORMATIONAL OPPORTUNITY - During H1 2024, 23 potential acquisitions appraised - Pipeline of opportunities under review, must be accretive EXPLORATION IN SCOTLAND - In March 2024 announced £3
Slide 24: Returns to Shareholders
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 RETURNS TO SHAREHOLDERS STRONG FINANCIAL PERFORMANCE WITH A FLEXIBLE BALANCE SHEET ‒ Since IPO CAML has returned ~$360m in dividends 360 ‒ Dividends paid far exceed the total of $214m in equity raised from the market 300 since I
Slide 25: Summary and Outlook
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SUMMARY AND OUTLOOK H2 2024 OUTLOOK - Kounrad on track to achieve 2024 full-year guidance - Sasa on track to achieve lower end of 2024 guidance - Transition to paste-fill mining methods nearing completion - Complete construction
Slide 26: Contact Details
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 CONTACT DETAILS INVESTOR RELATIONS MANAGER Richard Morgan 36 Carnaby Street London W1F 7DR rm@caml.uk +44 (0) 207 898 9001 www.centralasiametals.com
Slide 27: Appendices
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 APPENDICES
Slide 28: Sasa Mining: Long Section Svinja Reka
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SASA MINING LONG SECTION SVINJA REKA
Slide 29: Share Price/Shareholders
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 SHARE PRICE/SHAREHOLDERS SHARE PRICE PERFORMANCE VERSUS PEERS Share price* (AIM:CAML) 174.2 pence Total no. voting shares 181,904,941 Treasury shares 193,325 Issued shares 182,098,266 Market capitalisation £317m Free float 96% A
Slide 30: Copper – Supportive Price Environment Here to Stay
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 COPPER – SUPPORTIVE PRICE ENVIRONMENT HERE TO STAY Copper Market Balance $10,000 2024 price surge eases 600 • Copper prices rose sharply in early 2024 to a YTD high of ~US$10,800/t Surplus / (Deficit) (ktpa) 400 $8,000 in May -
Slide 31: Zinc – Market Stays Tight Despite Weaker Demand
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 ZINC – MARKET STAYS TIGHT DESPITE WEAKER DEMAND Zinc Market Balance Supply remains tight despite weak demand growth 1,000 $4,000 • In May 2024, zinc prices went as high as ~US$3,093/t and have been Surplus / (Deficit) (ktpa) tra
Slide 32: Lead – Supply Keeps Pressure on Prices
CENTRAL ASIA METALS PLC | H1 2024 RESULTS PRESENTATION | SEPTEMBER 2024 LEAD – SUPPLY KEEPS PRESSURE ON PRICES LME prices under pressure in the near-term Lead Price Chart $2,600 • Lead prices have retracted ~12% since breaking above US$2,200/t in May, in line with other industrial metals $2,400 • Pr