Central Asia Metals (LSE:CAML) has released updated Mineral Resource and Ore Reserve estimates for its Kounrad copper operation in Kazakhstan and the Sasa zinc-lead mine in North Macedonia. The revised figures were prepared by SLR Consulting in accordance with the JORC Code and are based on conditions as of 31 December 2025.
At Kounrad, all waste dumps have now been classified as Indicated Mineral Resources following extensive drilling, sampling and metallurgical testing. The work confirmed that the material is suitable for the company’s established dump-leach extraction process.
Technical Reports Support Proposed Cygnus Acquisition
The updated resource and reserve statements form an important part of the technical documentation supporting Central Asia Metals’ proposed acquisition of Cygnus Metals. The company will also submit National Instrument 43-101 (NI 43-101) compliant technical reports in Canada as part of the documentation accompanying the proposed transaction.
By publishing the revised estimates, Central Asia Metals aims to provide shareholders and prospective Cygnus investors with greater transparency regarding the long-term production potential of its core operations while strengthening the technical foundation of the proposed acquisition.
Operational Strength Underpins Growth Strategy
Central Asia Metals continues to benefit from a strong balance sheet, consistent cash generation and management’s focus on maintaining healthy EBITDA, free cash flow and shareholder dividends. However, the company’s outlook is tempered by earnings volatility, including the impact of impairment charges, while technical indicators remain weak with the shares trading below key moving averages.
About Central Asia Metals
Central Asia Metals is an AIM-listed base metals producer with operations at the Kounrad in-situ dump-leach copper project in Kazakhstan and the Sasa underground zinc-lead mine in North Macedonia. The company specialises in the efficient extraction of copper, zinc and lead from existing deposits and historical waste dumps, supplying metals to global industrial markets.
Alongside its existing producing assets, Central Asia Metals is pursuing growth through strategic acquisitions, including the proposed purchase of Cygnus Metals, as it seeks to expand its portfolio of long-life, low-cost mining operations.
