Analyst Research Report Snapshot

Title:

CENTRAL ASIA METALS - PRODUCTION BEATING FORECASTS

Price:

$10.00

Provider:

Edison Investment Research

Date:

08 Apr 2013

Pages:

7

Type:

AcrobatPDF

Companies referenced:

CAML.L

Available for Immediate Download
Summary:

Central Asia Metals’ (CAML) FY12 results signal a solid start to Kounrad’s mine life. With FY12 comprising four months of construction, followed by eight months of consistent production often beating monthly targets, it recorded attributable (CAML: 60% ownership) revenue of US$30.7m for a total direct cost of production of US$5.8m. With unit costs at the very bottom of the sector’s cash cost curve (all inclusive = US$0.98/Ib) and production rates from the leached dumps consistently beating budget, even during the winter period when temperatures are low, CAML has demonstrated itself thus far as a low cash cost producer of copper. A successful resolution to the SAT deal, whereby CAML would take sole control of Kounrad, still remains the most material near-term catalyst for the company. CAML anticipates updating the market on this during Q213.

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