StockMarketWire.com - Central Asia Metals said it met its annual production guidance for copper, lead and zine in 2018.

Copper production from a recovery plant in in Kazakhstan amounted to 14,049 tonnes.

For 2019, the company forecast copper production to fall to 12,500 to 13,500 tonnes.

Zinc in concentrate output from the Sasa mine in Macedonia amounted to 22,532 tonnes and was forecast at 22,000 to 24,000 tonnes in 2019.

Lead in concentrate output from Sasa was 29,388 tonnes and was forecast at 28,000 to 30,000 tonnes in 2019.

Cash in the bank at 31 December was $39m.

'2018 has been transformational for us, as we have operated both of our assets for a full year, meeting our production targets for the three base metals - copper, zinc and lead,' chief executive Nigel Robinson said.

'We are also encouraged by the results of the exploration drilling at Sasa and look forward to demonstrating the overall outcome of this work in an updated JORC compliant mineral resource estimate during the current quarter.'

'While we encountered copper mineralisation at Shuak, we believe that this is unlikely to be sufficiently material in terms of scale for us to develop.'

'However, our business development activities gathered momentum during the second half of 2018 and we have been encouraged by some of the opportunities that we have reviewed.'

'Our 2018 annual results are scheduled to be released on 10 April 2019, when our final dividend for 2018 will also be announced.'


At 2:45pm: [LON:CAML] Central Asia Metals PLC share price was +12p at 233p



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