Central Asia Metals In Line To Achieve Full-year Production Forecasts
LONDON (Alliance News) – Central Asia Metals PLC said on Wednesday copper production and cathode sales were up in the first six months of the year, and said it was on course to achieve its full-year production guidance.
Copper production in its Kazakhstan plant in the first half of the year was up 2.0% to 7,027 tonnes from 6,908 tonnes year-on-year, while copper cathode sales were up 8% in the period to 6,870 tonnes, compared to 6,355 tonnes the year before.
Central Asia said its 2017 diamond drilling programme of approximately 4,700 metres has recently commenced, together with an initial 7,000 metre core hydrotransport drilling campaign.
The company also said it has been undertaking geological mapping with its partner Aksu-Esil, and is nearing completion of a TEM-FAST geophysics programme. This is designed to determine the depth and extent of the saprolite weathering horizon for its Shuak property.
“We are pleased that our 2017 first half production is broadly in line with that of 2016. This ensures that we are on course to achieve our full year production guidance of between 13,000 tonnes and 14,000 tonnes of copper cathode,” said Executive Chairman Nick Clarke.
Shares in Central Asia were up 0.5% at 214.00 pence on Wednesday.