Central Asia Metals plc (“CAML” or the “Company”) is an AIM-listed company incorporated in England & Wales, with operational headquarters in London. Its countries of operation are Kazakhstan and Mongolia. CAML is a copper production, precious and base metals mineral exploration and development company with majority stakes in copper, gold, and molybdenum projects throughout Central Asia.
Having raised $60m at the IPO in October 2010, CAML built its Kounrad SX-EW copper recovery plant in central Kazakhstan. The construction was completed early in 2012 at the cost of $39m – approximately 15% below the budget. Built in the space of 21 months the plant, with the annual production capacity of 10,000 tonnes, started to produce copper in late April 2012, and since the end of September 2012 is operating at its full design capacity – the milestone achieved some three months ahead of schedule. As of 31 December 2012 the plant produced 6,586 tonnes of cathode copper of at least 99.99% purity. The Company is currently debt-free and cash flow positive, and announced maiden and special dividends (totalling GBP 0.07 per share) in December 2012.
The Company’s assets include:
- 60% of the Kounrad copper project in eastern Kazakhstan, which 2013 svheduled production outut of 10,000t of copper.
- 70% of the Alag Bayan copper-gold porphyry exploration licence, located in the middle of Mongolia’s prolific copper-gold porphyry mineralisation trend, approximately 100km from the world-class Oyu Tolgoi copper-gold deposit.
- 80% of the Handgait molybdenum project with ~41kt of metal in resource in northern Mongolia. (Currently held for sale.)
- 85% of the Ereen gold project with ~773koz in JORC-classified resources situated approximately 130km north of Ulaanbaatar, Mongolia. (Currently held for sale.)
The Company’s highly experienced management and operations team has a proven record in Central Asia, and is working towards developing a metals portfolio by identifying growth opportunities and throughout Kazakhstan and Mongolia.