Central Asia Metals

CAML · AIM · Basic Resources · mcap £262m · 153.8p

The company runs the Kounrad copper recovery operation in Kazakhstan and the Sasa zinc and lead mine in North Macedonia. It also holds exploration interests in Scotland, Kazakhstan and Quebec.

Target	Promise	Said	Status
2023
31 Dec 2023	Kounrad solar plant to start generating electricity before end of 2023.	10 Oct 2023	✓ Kept
	“complete construction and commissioning of our Kounrad Solar Power Plant, which should start generating electricity for us before the end of 2023” Result Plant operational by January 2024 update, built for under $3.5m. “Construction of Kounrad solar power plant completed and generating renewable power for the operation”11 Jan 2024 · 2023 Operations Update
2024
31 Dec 2024	Reduce Kounrad Scope 1 and 2 emissions by 10% versus 2020 by 2024.	11 Jan 2024	✓ Kept
	“reduce Kounrad's Scope 1 and 2 emissions by 10% versus 2020” Result Group Scope 1 and 2 emissions were 44% below 2020 by 2024. “We continued to deliver on our climate strategy, achieving a 44% reduction in Scope 1 and 2 GHG emissions since our 2020 baseline, keeping us on track for a 50% reduction by 2030.”15 Apr 2025 · Publication of 2024 Sustainability Report
31 Dec 2024	Complete second phase of Central Decline and connect to 750m level by Q4 2024.	25 Mar 2024	✓ Kept
	“connection to the 750 metre level is planned for Q4 2024” Also stated 9 Apr 2024 Result Sasa mine life extended to at least 2039 in Oct 2024; capital programme beddown continued in 2025. “In the third element of Sasa's Capital Projects, around 3,500 metres of the Central Decline have been developed. Completion and connection with the 750-metre level remains on track for Q4 2024.”9 Oct 2024 · Q3 2024 Operations Update “Central Decline in operation”8 Apr 2025 · Q1 2025 Operations Update
2025
30 Jun 2025	Start second drilling phase at Arthrath in Q2 2025.	20 Mar 2025	✓ Kept
	“Second phase of drilling at Aberdeen's Arthrath project to commence in Q2 2025” Result Phase 2B drilling due to complete in August 2025. “Phase 2B exploration drilling commenced at 28.4%-owned Aberdeen Minerals' Arthrath base-metals project in Scotland”10 Jul 2025 · H1 2025 Operations Update
31 Dec 2025	2025 capital expenditure of $18m-$21m.	20 Mar 2025	✓ Kept
	“Capital expenditure in 2025 is expected to be in the range $18 million to $21 million” Result Capex of $19.0m was spent in 2025. “Capex guidance for 2026 of between $14.5 million and $17.5 million, compared with $19.0 million spent in 2025”19 Mar 2026 · 2025 Full-Year Results
2026
31 Mar 2026	Run a buyback of up to $10m by 31 March 2026.	10 Sep 2025	✓ Kept
	“will continue until 31 March 2026 or until the number of Ordinary Shares equal to US$10 million have been purchased under the Buyback Programme or the process is terminated or paused” Result Issued share capital fell from 182.1m to 177.9m shares by May 2026. “On the date of the meeting, CAML's issued share capital consisted of 177,904,281 Ordinary Shares of $0.01 each with voting rights and 193,325 shares were held in treasury.”18 May 2026 · Results of 2026 Annual General Meeting (AGM)
5 Oct 2026	Apply for a Toronto listing before Cygnus Scheme implementation.	2 Jun 2026	✓ Kept
	“CAML has agreed to use all reasonable endeavours to apply for approval for listing its ordinary shares on the Toronto Stock Exchange ('TSX') or TSX Venture Exchange” Result Application made and conditional TSX approval received 1 September 2026. “Related to the Cygnus transaction, CAML has applied for its shares to be listed on the Toronto Stock Exchange (TSX), in addition to maintaining its existing quotation on the AIM market of the London Stock Exchange.”26 Aug 2026 · Half-year Results “Central Asia Metals PLC (AIM: CAML) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the 'TSX') for the listing of shares in CAML on the TSX”1 Sep 2026 · Conditional Approval of TSX listing