Central Asia Says On Track For Upper End Of 2017 Production Guidance
Central Asia Metals PLC said Tuesday it remains on track to achieve the upper end of 2017 copper production guidance of between 13,000 and 14,000 tons, despite recording a 6.7% drop in third-quarter production.
The miner produced 3,842 tons of copper from its Kounrad copper recovery plant located in Kazakhstan in the third quarter, down from 4,102 tons in the year ago period. Copper cathode sales amounted to 3,795 tons, versus 4,291 tons.
Central Asia Metals also said that it is nearing completion of its 2017 drilling program at the Shuak copper project located in northern Kazakhstan. The core hydro transport drilling program has finished, with 17,500 meters having been drilled, and the 5,200 meter diamond drilling program is 90% complete.
Shares of the company were trading 0.7% lower at 234.79 pence each on Tuesday.
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in central Kazakhstan. The Company also owns 80% of the Shuak copper exploration property in northern Kazakhstan. The company’s proposed acquisition of Lynx Resources is expected to complete in Q4 2017.