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Highlights

  • Robust Financial Performance: Revenue of $214.4 million, EBITDA of $101.8 million, and a full-year dividend of 18 pence per share.
  • Operational Performance: Solid production at Kounrad (copper) and Sasa (zinc & lead), with key exploration and investment activities underway.
  • Future Outlook: 2025 production targets set, new exploration licenses in Kazakhstan, and a major Dry Stack Tailings Plant launch at Sasa.

Central Asia Metals Plc (LSE:CAML) has reported its financial and operational performance for the full year ending 31 December 2024, with continued investment in future growth and sustainability initiatives.

Financial Performance

The company posted group revenue of $214.4 million, a 5.4% increase from the previous year’s restated $203.5 million. EBITDA stood at $101.8 million, with a 47% EBITDA margin, reflecting stable profitability despite industry challenges.

Central Asia Metals remains debt-free, with a cash balance of $67.6 million as of 31 December 2024—up from $57.2 million in 2023. The company also maintained a full-year dividend of 18 pence per share.

Operational Performance

Kounrad Copper:

  • Produced 13,439 tonnes of copper (2023: 13,816 tonnes)
  • Sold 13,521 tonnes of copper (2023: 13,687 tonnes)

Sasa Zinc and Lead:

  • Produced 18,572 tonnes of zinc-in-concentrate (2023: 20,338 tonnes)
  • Sold 15,839 tonnes of payable zinc (2023: 17,113 tonnes)
  • Produced 26,617 tonnes of lead-in-concentrate (2023: 27,794 tonnes)
  • Sold 25,560 tonnes of payable lead (2023: 26,298 tonnes)

The company reported two Lost Time Injuries (LTI), resulting in a Lost Time Injury Frequency Rate (LTIFR) of 0.77, highlighting a commitment to workplace safety.

Strategic Investments & Sustainability

Central Asia Metals invested $3.8 million in Aberdeen Minerals, with first-phase drilling at the Arthrath project in Scotland confirming its exploration model. Further, the company secured exploration licenses in Kazakhstan through CAML Exploration (CAML X), an 80%-owned subsidiary.

The company also achieved conformance with the Global Industry Standard on Tailings Management (GISTM), ensuring compliance with best practices for tailings storage safety.

2025 Outlook & Growth Plans

For 2025, Central Asia Metals has set the following production guidance:

  • Copper: 13,000 to 14,000 tonnes
  • Zinc-in-concentrate: 19,000 to 21,000 tonnes
  • Lead-in-concentrate: 27,000 to 29,000 tonnes

Key projects for 2025 include:

  • Dry Stack Tailings (DST) Plant at Sasa, set to begin operations in Q1 2025
  • Second-phase drilling at Aberdeen’s Arthrath project, commencing in Q2 2025
  • Continued exploration in Kazakhstan, with further license applications expected
  • Active search for acquisitions to improve the project pipeline