Central Asia Metals (FY Results)

Cantral Asia Metals (CAML) - 16th April 2014

The Full Year Results released today, show excellent progress for CAML. the highlights are:

Central Asia Metals plc (AIM:CAML), a copper producing company, today announces its full year results for the 12 months ended 31 December 2013.

Financial: Results enhanced by acquisition of the remaining 40% ownership in Kounrad Copper Company

·      Gross revenue of $54.1 million (increase of 76%, 2012: $30.7 million)

·      Group EBITDA of $32.4 million (increase of 102 %, 2012: $16.0 million)

·      Operating profit of $27.9 million (increase of 86%, 2012: $15.0 million)

·      $27.8 million gain on fair value uplift as a result of the 40% acquisition of KCC on 21 October 2013

·      $14.1 million loss from discontinued operations (Mongolia)

·      Group profit for 2013 of $34.5 million (2012: $9.8 million)

·      Kounrad operating costs remain competitive and in the lower quartile of the cost curve

−      C1 cash cost of $0.73/lb (2012: $0.71/lb)

−      Fully inclusive cost in Kazakhstan $1.13/lb  (2012: $0.98/lb)

·      Cash balances of $44.5 million as at 31 December 2013 (2012: $33.9 million) and no outstanding debt

·      Proposed final dividend of 5 pence per share making a total for 2013 of 9 pence per share (2012: 7 pence)

·      $3.2 million for acquisition of 50% share in Copper Bay project in Chile

Central Asia Metals has been included in the DIY-Investors Portfolios for 2014. You can follow the progress of these portfolios HERE.