Central Asia Metals PLC (AIM:CAML, OTC:CAMLF) hailed copper production at its Kounrad recovery plant in Kazakhstan towards the upper end of the guidance range in 2023, with middle-range zinc and lead output from the Sasa zinc-lead mine in North Macedonia.
Results and the declaration of the dividend will come in late March, while the cash balance at the end of December stood at US$57.2 million, up from US$50.6 million at the half-year stage.
The outlook for 2024, said chief executive Nigel Robinson, is for “another year of safe and reliable base metals production” as well as “looking for further opportunities to grow the business”.
For the past year, Kounrad’s copper production was 13,816 tonnes, compared to 14,254 the year before, with 2024 guidance announced for between 13,000 and 14,000 tonnes of copper.
Kounrad’s output will be greener than before after construction of a solar power plant was completed under budget in November, providing an anticipated 16-18% of the site's annual electrical needs.
A new exploration licence was also granted in the year elsewhere in Kazakhstan, targeting “mid-scale” copper deposits, and Robinson said “we look forward to a full exploration season this year”.
Production at Sasa of 20,338 tonnes of zinc in concentrate (21,473 in 2022) and 27,794 tonnes of lead in concentrate (27,354) were in the middle of the guidance range.
Guidance for 2024 is for 19,000 to 21,000 tonnes of zinc, and 27,000 to 29,000 tonnes of lead.
Having delivered on the construction of the required infrastructure to begin the transition to the paste-fill mining methods at Sasa, Robinson said the construction of the dry stack tailings plant and landform have begun and will be a key focus for 2024.