Central Asia Metals (CAML.L) still has to publish its financial results of the first quarter of this year, but it has already released its production results. The total copper production was approximately 6.7 million pounds (at Kounrad), whilst the company also produced 12 million pounds of zinc and just over 15 million pounds of lead at the recently-acquired Sasa project.
These production results indicate CAML appears to be on track to meet its production guidance of 13,000-14,000 tonnes of copper, 21-23,000 tonnes of zinc and 28-30,000 tonnes of lead. We were curious to see the metallurgical results and the concentrate grades for the Sasa project, but everything went according to plan. The recovery rate of the zinc and lead were respectively 84.6% and 93.3%, whilst the respective concentrate grades were 48.5% and 73.2% (both concentrate grades do meet the minimum requirements of the smelters).
Meanwhile, the company is continuing its exploration activities at Shuak where the drill bit continues to intersect copper mineralization in both oxide and sulphide zones. The oxidized zones almost start from surface (with 41 meters at 0.51% copper and 45 meters at 0.28% copper starting from a depth of respectively 3 and 2 meters) whilst the sulphide zones contain a higher grade copper mineralization with 32 meters at 0.72% copper, 23 meters containing 0.98% copper and 22.5 meters at 1.74% copper.