London · Delayed Price · Currency is GBP · Price in GBX Central Asia Metals Earnings Call Transcripts
Fiscal Year 2026
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CAML will acquire Cygnus Metals for AUD 232 million in an all-share deal, gaining the high-grade Chibougamau copper-gold project in Québec. The transaction, expected to close in September, is strongly supported by shareholders and includes robust protections against competing bids.
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The AGM covered strong 2025 financials, a $0.12 dividend, and ongoing growth through exploration and acquisitions. Board strategy, executive pay, and operational improvements at Sasa and Kounrad were discussed, with stakeholder questions on risks, market opportunities, and governance.
Fiscal Year 2025
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Strong 2025 results with $102M EBITDA and $80M cash, driven by higher commodity prices and cost control. Sasa impairment impacted net income, but robust Free Cash Flow supported top-end dividends and a completed $10M buyback.
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Copper and zinc-lead production met guidance, with Kounrad maintaining strong margins and Sasa facing grade and cost challenges. Interim dividend was halved but offset by a $10 million buyback, keeping shareholder returns steady. CAPEX and ESG targets remain on track, and the balance sheet is robust.
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H1 2025 saw strong operational and financial performance with $99.5 million revenue and $39.9 million EBITDA, supported by robust copper and zinc output, zero lost time injuries, and a $10 million share buyback. Sasa faces grade variability, but guidance is maintained.
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The AGM covered strong 2024 financial results, approval of a final dividend, and updates on mine modernization, sustainability, and disciplined growth plans. Shareholders discussed capital allocation, share buybacks, and operational challenges, with management reaffirming a focus on accretive growth and efficiency.
Fiscal Year 2024
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Revenue grew 5% to $214.4 million, with EBITDA at $101.8 million and strong free cash flow supporting a GBP 0.18 dividend. Kounrad met production guidance, while SASA was slightly below due to transition projects, but both maintained healthy margins. Outlook for 2025 remains robust, with disciplined capital allocation and continued focus on M&A and operational efficiency.
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H1 2024 saw stable EBITDA margins, strong free cash flow, and a 15% rise in EPS, with production on track to meet guidance at both Kounrad and Sasa. The company remains debt-free, declared a 9p interim dividend, and advanced key projects and sustainability initiatives.