Central Asia Metals (CAML) Corporate Presentation summary

Operational performance

• 2024 copper production reached 13,439t at Kounrad, with a 2025 guidance of 13,000-14,000t copper cathode.

• Sasa mine produced 18,572t zinc and 26,617t lead in 2024; 2025 guidance is 19,000-21,000t zinc and 27,000-29,000t lead.

• Kounrad's H1 2024 C1 cash cost was $0.78/lb with a 72% EBITDA margin; Sasa's H1 2024 C1 cash cost was $0.70/lb with a 37% EBITDA margin.

• Sasa transitioned to paste fill mining, with 40% of tailings placed underground and a new Dry Stack Tailings Plant operational in Q1 2025.

• Central Decline at Sasa completed, improving haulage and ventilation efficiency.

Financial highlights

• Group EBITDA for H1 2024 was $49.1m with a 47% margin; profit after tax was $23.8m, up 14% YoY.

• Group cash at 31 December 2024 was $67.6m; company remains debt-free.

• H1 2024 free cash flow was $30.0m; H1 2024 capex totaled $8.3m, with 2024E capex expected at $22-25m.

• Since IPO, ~$360m returned in dividends, exceeding $214m raised in equity.

• Interim dividend of 9p paid in H1 2024.

Growth and exploration

• Reviewing a pipeline of accretive base metal opportunities in Europe and Kazakhstan.

• Invested £3m ($3.8m) for a 28.4% stake in Aberdeen Minerals, with potential to increase to 37.6%.

• Early-stage exploration in Kazakhstan with two licenses granted and two pending.

• Successful summer drilling campaign in Scotland, recovering visible massive sulphides.