Central Asia Metals Share Discussion Threads

[kenmitch] 15/9/2021 19:29

It’s surprising that so many posters don’t understand basic dividend facts.

CAML goes ex (the 8p) dividend on Thursday September 30th. Ex dividend day is nearly always on Thursdays. The register is checked to see those entitled to that dividend the following day. i.e Friday October 1st.

Also anyone still holding the share on ex dividend day gets the dividend. Anyone buying on ex dividend day does not get the next dividend.

And the CAML share price will be marked down 8p on ex dividend day. What happens after 8a.m is guesswork. Sometimes the share price goes on to fall by more than 8p. Sometimes that early ex dividend loss is fully made up by the end of the day.

[melton john] 15/9/2021 18:59

QS99

"This will be paid on 22 October 2021 to shareholders registered on 1 October 2021."

So the xdiv date will be 30Sept not 1 Oct as stated earlier.

[pughman] 15/9/2021 18:29

On the basis of today's dividend, the extra debt repayment, meeting the metals production guidance, copper at the top end and lead and zinc at the lower, Q3 must have been the most profitable in CAML's history. Costs and taxes are up and their hedging strategy will cost $4.9m for the year, but finance costs and treatment charges will fall in H2 and EBITDA for H2 at this stage is comfortably ahead of H1.

[vish65] 15/9/2021 18:17

Yes, that's the one snag. Margins here are so good that Group margins could fall. They need to consider acquisitions very carefully.

[briggs1209] 15/9/2021 15:30

Hopefully they will bank the cash and wait until the copper price softens before buying. But they will be hard pressed to find a set up as cheap per pound as their current assets.

[lauders] 15/9/2021 11:07

With strong demand for the metals that CAML produces, the Company is in an enviable position. CAML continues to strengthen its balance sheet having now repaid $135 million of the funds borrowed to acquire Sasa less than four years ago, and is in a strong position to pursue potential acquisition opportunities.

Look forward to some acquisition news down the line. Until then it is "sit back, wait, and collect the dividends".

[yawn1971] 15/9/2021 08:28

Wow. A share going up on news ... Well done CAML. Good results.

[melton john] 15/9/2021 08:23

Looking back at the chart I posted on 4585, comparing with RIO and BHP, I don't see a climb to at least 300 as impossible.

[vish65] 15/9/2021 08:17

No complaints from me . Plus....Post period end early debt repayment of $10 million. Board must be confident on H2.

[qs99] 15/9/2021 08:08

$64m EBITDA, can it do the same H2? so c.$128m EBITDA FY, let's just call it £100m (bit cheeky rounding up but makes it easy) so nearly net debt free, market cap £400m....firepower to do deals....

DYOR but is that the right valuation?

[return_of_the_apeman] 15/9/2021 08:05

Circa 400mill market cap
Circa 100m free cash flow per annum

Bonkers cheap

[mount teide] 15/9/2021 08:02

Cracking set of results and dividend - credit to the management for delivering yet another outstanding performance, something that has been as reliable as a Swiss watch since they listed on AIM.

[celeritas] 15/9/2021 07:42

Does what it says on the tin with a big fat dividend, well done.

[pol123] 15/9/2021 07:37

Another strong set of results....bau :-)Looks like they are also keeping FY guidance

[qs99] 15/9/2021 07:33

thanks V11SLR & Luffness, need new glasses obviously!

[catsick] 15/9/2021 07:21

Will be debt free by now with a couple months cash flow past the june 30th date, time for another acquisition, I would favour buying out Adriatic its close by and right in their competence sweet spot

[garycook] 15/9/2021 07:21

With increased 33% Interim dividend,also with the debt reduction.What is not to like.Just need the share price to rise now !

[luffness] 15/9/2021 07:20

1st and 22nd October

[v11slr] 15/9/2021 07:19

"This will be paid on 22 October 2021 to shareholders registered on 1 October 2021."

[qs99] 15/9/2021 07:17

Can't see XD or payment dates though....

[qs99] 15/9/2021 07:14

At first glance, these look pretty good. Nearly debt free, big jump in divi and EBITDA levels, slight negative that struggling to buy new assets due to valuations, but as it builds up its cash pile, it can be patient while paying nice divis....commodity prices holding up, so EV/EBITDA ratio looks v. attractive IMO....

THoughts?

DYOR
Cheers
QS99

[garycook] 15/9/2021 07:11

Got the Dividend spot on at 8p. Central Asia Metals plc (AIM: CAML) is pleased to announce its unaudited interim results for the six months ended 30 June 2021 ('H1 2021' or the 'period').

H1 2021 financial summary

-- Increased dividend and additional debt repayments

o H1 2021 dividend of eight pence per share (H1 2020: six pence), representing 40% of Group free cash flow 1 ('FCF')

o Post period end early repayment of $10 million of corporate debt facility

-- Strong financial performance driven by robust commodity prices

o Group gross revenue 1 of $106.3 million (H1 2020: $75.4 million) and Group net revenue of $100.8 million (H1 2020: $70.8 million)

o Group EBITDA 1 of $64.4 million (H1 2020: $42.5 million) and EBITDA margin 1 of 61% (H1 2020: 56%)

o Group FCF of $48.9 million (H1 2020: $21.2 million) -- Strengthening balance sheet

o Cash in the bank as at 30 June 2021 of $54.3 million 2 (31 December 2020: $47.9 million 2 )

o Group net debt 1 as at 30 June 2021 of $10.1 million (31 December 2020: $36.2 million)

o Debt repayments of $19.9 million (H1 2020: $19.2 million)

H1 2021 operational summary

-- Kounrad copper production of 6,214 tonnes (H1 2020: 6,607 tonnes)

o Copper sales of 6,241 tonnes (H1 2020: 6,600 tonnes)

-- Sasa zinc in concentrate production of 11,292 tonnes (H1 2020: 12,203 tonnes)

o Payable zinc sales of 9,419 tonnes (H1 2020: 10,273 tonnes)

-- Sasa lead in concentrate production of 13,807 tonnes (H1 2020: 15,140 tonnes)

o Payable lead sales of 13,160 tonnes (H1 2020: 14,445 tonnes)

-- River Remediation Project completed at Sasa

-- Three Group lost time injuries ('LTIs'), Group lost time injury frequency rate ('LTIFR') of 2.50 Outlook

-- CAML climate change strategy work underway

o Sasa to be powered by renewable energy following post period end agreement to purchase solely renewable power from North Macedonian power provider, EVN, reducing Group greenhouse gas ('GHG') emissions by approximately 35% on an annualised basis

-- Sasa Cut and Fill Project on track and on budget for commissioning in Q4 2022

-- On course to achieve upper end of 2021 Kounrad production guidance and lower end of Sasa production guidance

1 See Financial Review section for definition of non-IFRS alternative performance measures

2 The cash balance figure disclosed includes restricted cash

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018. Nigel Robinson, Chief Executive Officer, commented:

"I am pleased to report an excellent set of financial results for the first half of 2021, with EBITDA up 51% and FCF up 131% period on period, driven by strong commodity prices. This positive performance over the past six months means we are able to declare a dividend of eight pence per share. This dividend, and the $10 million in accelerated debt repayments, which takes us closer to the debt free milestone, demonstrates our continued focus on delivering value for our shareholders, as well as our wider stakeholders.

"We have advanced our Cut and Fill Project since the start of the year, which is on track and on budget for commissioning in the last quarter of next year. During the period, development of the new Central Decline has commenced, all major components for the Paste Backfill Plant were ordered and plans for the Dry Stack Tailings part of the project are also advancing.

"As part of our commitment to sustainability, we have been assessing opportunities to reduce our GHG emissions, with several workstreams underway, and we recently secured solely renewable power for our Sasa operations from H2 2021 onwards. Having completed a scoping study for the Kounrad solar plant last year, we are currently in the process of upgrading this to a full feasibility study, which will offer a clearer view on the most effective way of reducing our GHG emissions at the project.

"Over the past six months, our commitment to support our local communities continued and I am particularly proud of the recent completion of the Youth Park along the banks of the river close to Sasa in Makedonska Kamenica, a place that I am sure will be enjoyed for many years to come.

"The outlook for the remainder of 2021 is positive for CAML, with strong demand for the metals that we produce, and we are on track to meet our output guidance from Sasa and Kounrad."

[qs99] 14/9/2021 10:56

Roll on tomorrow then to see where CAML is heading to

[return_of_the_apeman] 14/9/2021 10:05

111.3p since ipo nearly 10yrs ago by my calcs

With capital appreciation that's a total return of 244% :-)

Cash generation now is fantastic at current metal prices