Central Asia Metals PLC
LSE:CAML
Central Asia Metals PLC
Central Asia Metals Plc operates as a holding company. The Company’s principal business activities are the production of copper at its Kounrad operations in Kazakhstan and the production of lead, zinc and silver at its Sasa operations in North Macedonia. The firm owns interest in Kounrad solvent extraction- electrowinning (SX-EW) copper project in Kazakhstan and Sasa zinc-lead mine in North Macedonia. Sasa is a zinc, lead and silver mine in Macedonia, approximately 150 kilometers from Skopje. The Company’s wholly owned subsidiaries include CAML Kazakhstan BV, Sary Kazna LLP, Kounrad Copper Company LLP, CAML MK Limited, CMK Resources Limited, CMK Mining B.V., CMK Europe SPLLC Skopje and Rudnik SASA DOOEL Makedonska Kamenica.
Central Asia Metals Plc operates as a holding company. The Company’s principal business activities are the production of copper at its Kounrad operations in Kazakhstan and the production of lead, zinc and silver at its Sasa operations in North Macedonia. The firm owns interest in Kounrad solvent extraction- electrowinning (SX-EW) copper project in Kazakhstan and Sasa zinc-lead mine in North Macedonia. Sasa is a zinc, lead and silver mine in Macedonia, approximately 150 kilometers from Skopje. The Company’s wholly owned subsidiaries include CAML Kazakhstan BV, Sary Kazna LLP, Kounrad Copper Company LLP, CAML MK Limited, CMK Resources Limited, CMK Mining B.V., CMK Europe SPLLC Skopje and Rudnik SASA DOOEL Makedonska Kamenica.
Stable Production: Kounrad copper output was 6,218 tonnes and Sasa produced 8,692 tonnes of zinc and 12,613 tonnes of lead, with operations running safely and no lost time injuries.
Financials: Revenue was $99.5 million and EBITDA was $39.9 million (40% margin), both similar to last year despite lower sales volumes.
Shareholder Returns: The company announced a 4.5p dividend and a $10 million share buyback, keeping total cash returns consistent with prior periods.
Sasa Challenges: Sasa's mined grades were lower due to variable geology and dilution from new mining methods, triggering a full operational review; guidance has been modestly reduced but remains on track.
Costs: Cost of sales rose 14% mainly from higher royalties, wages, and energy, especially at Sasa; admin costs rose due to business development and exploration expenses.
CapEx and Guidance: CapEx guidance for the year is reiterated at $18–21 million, with most capital projects at Sasa completed.
Strong Cash Position: Cash at period end was $47.7 million, recently boosted by proceeds from New World Resources share sale and break fee.
Outlook: Kounrad is on track for full-year guidance; Sasa faces challenges but improvement measures underway. Management emphasizes flexibility in capital allocation and future growth opportunities.
