Central Asia Metals Says In Talks On ‘potential Transaction’
The directors of London-based Central Asia Metals (CAML) confirmed on Monday that they were in “advanced talks” with a third party on a “potential transaction”.
CAML, which has requested a suspension in the trading of its shares on the Aim, reported that the intended transaction would be classified as a reverse takeover under listing rules.
The company noted that further announcements would be made in the “coming weeks”.
CAML’s main asset is its Kounrad copper dump treatment operation, in Kazakhstan, which produces copper through a solvent extraction-electrowinning plant.
The company also owns 80% of the Shuak copper exploration property in northern Kazakhstan.
In addition, Central Asia Metals has a 75% equity interest in Copper Bay, which is a private company that has conducted a definitive feasibility study at its copper project in Chañaral Bay, Chile.