Share Name Share Symbol Market Type Share ISIN Share Description
Central Asia Metals LSE:CAML London Ordinary Share GB00B67KBV28 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.00p +0.39% 255.75p 255.50p 256.50p 257.00p 252.00p 255.75p 366,532 16:35:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 54.0 26.6 19.1 14.3 411.01

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Date Time Title Posts
22/10/201720:03Welcome to Central Asia Metals1,141
30/9/201011:25Kazak Copper with Mongolian Twist1

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DateSubject
22/10/2017
09:20
Central Asia Metals Daily Update: Central Asia Metals is listed in the Mining sector of the London Stock Exchange with ticker CAML. The last closing price for Central Asia Metals was 254.75p.
Central Asia Metals has a 4 week average price of 225.75p and a 12 week average price of 210p.
The 1 year high share price is 263p while the 1 year low share price is currently 180p.
There are currently 160,708,091 shares in issue and the average daily traded volume is 1,337,000 shares. The market capitalisation of Central Asia Metals is £411,010,942.73.
27/9/2017
17:59
mount teide: Why I'm happy with the Central Asia Metals acquisition hTTps://www.shareprophets.com/views/31795/why-i-m-happy-with-the-central-asia-metals-acquisition If I’m being completely honest then I have to admit that I was somewhat annoyed when an RNS from Central Asia Metals (CAML) initially landed to say that trading in the shares had been temporarily suspended pending the acquisition of a large asset. That annoyance though was largely driven by a shorter term view, as shares in the company had been doing very well and the price was increasing steadily in the run up to the financial results, which were expected to be good and with yet another high yielding dividend to be paid. Alongside that copper was flying and had just topped the $3.10/lb level. My main worry was that not only would momentum be lost – I think the share price could well have tested the 300p area, given that it was trading at around 254p just prior to suspension – but also that the market might not like the acquisition, and given that it was going to be large enough to constitute a reverse takeover, it needed to be well received if the company was going to continue to do as well as it has been in recent years. Part of that worry also related to the fact that the board had always been very careful in the past – having returned far more via dividends than the initial IPO, a real rarity amongst AIM resource stocks – and had managed to build up a tidy sum of cash in the bank and with no debt, which could all be about to change, given the sort of amounts that it would need to be paying for an asset in order to trigger a reverse takeover. This week all was finally revealed, including details of the acquisition and how it was going to be financed, and as feared thus far the market hasn’t exactly warmed to the deal, with the share price having drifted back 10% or so to the current level of around 230p. But having taken a bit of time to consider all of the info, I am still happy to be holding shares here for the longer term – albeit I’d have preferred it if the price hadn’t dropped back – and given that the £137 million in equity financing for the deal was raised at 230p, and the way the market tends to work these days, the current share price level probably shouldn’t come as any sort of surprise. The company has just announced an interim dividend of 6.5p – payable on October 27 – which compares favourably to the 5.5p one which it paid the previous year, and taking that into account (the new shares don’t qualify for the dividend), the placing was carried out at a 7.8% discount to the share price prior to that. Central Asia is to acquire zinc and lead miner Lynx Resources for $402.5 million from owners Orion Co-investments and Fusion Capital, with that sum being made up of $153.5 million from the placing; $120 million senior debt facility at 4.75% plus LIBOR; $67 million in existing Lynx debt facility at 5% plus LIBOR; $50 million worth of shares to Orion via an equity subscription. Lynx Resources operates the SASA mine in Macedonia, and during 2016 produced over 22,500 tonnes of zinc and nearly 29,000 of lead, which was broadly in line with production figures over the past eight years or so, and with a mine life expectancy up until 2032, there is plenty more to come along with the potential to extend that. The mine is among the lower cost producers, at $0.39/lb for zinc and $0.29/lb for lead, and with zinc currently around $1.4/lb and lead at $1.12/lb, both have been performing quite strongly of late. Looking at the financials for Lynx, it generated revenue of $66.7 million for 2016, resulting in an operating profit of $33 million and a net profit of $26.1 million, so I suspect that Central Asia has paid close to the going market price for the acquisition. It is always hard to predict what commodity prices are going to do in the future, but the signs are quite bullish at the moment for both metals, with increased demand, especially in countries such as China, the US and India, and that would of course benefit the company. This has also made the company into one of the few diversified producers listed on the AIM market – although I would expect a main market listing moving forwards – and I believe that it has also reduced some of the risk which was associated with the company previously. Whilst there haven’t been any problems for it at its Kounrad copper operation in Kazakhstan, in these sort of countries you never quite know when things can change, especially when it comes to mining rights and laws, so some geographical diversity is a good thing I think. It has also previously been totally reliant on copper and specifically Kounrad – although the other recent acquisition at Shuak has plenty of potential – and this acquisition at least allows it to diversify the risk to other metals as well. It is still very early days and it remains to be seen how well the new business is integrated into the current one – assuming of course that the acquisition is approved at the EGM on October 11 – but given the way that the management has been running the business, I would expect it to do well longer term. The latest set of financials for the company, the interims up to June 30 2017, had been strong, with higher levels of production, EBITDA up 41% on the same period in 2016 at $24 million, and a net profit of a little over $15 million, plus cash in the bank having grown to $41.7 million. Should we see the share price dip any lower then I will be very tempted to add more, as not only is there plenty of potential for growth, but I would still expect a decent dividend to be paid, as per the policy of the management thus far when it comes to returning some of the profits to investors.
22/9/2017
20:54
basem1: Right let's say 24% of gross revenue as it is now. Combined revenue $140m divi by 24% = $33.6m div by 1.35 = £24.8m div by £403m = 6.15% yield. Lots of variables but a realistic figure. The share price could rise by 50% and the yield would still be slightly over 4%.
22/9/2017
20:42
basem1: Dividend going forward ? Very approximate. 20% of £54m profits = £11m £11m / by 161,220,000 shares = 6.8% They pay slightly more than 20% of profits and my profit estimates look conservative. The share price needs to rise to keep pace with this dividend. ??
22/9/2017
17:21
keisersoze: ooh - I think you'll get the chance to buy at 230p fairly shortly. zho - according to my app the mkt cap is £274m plus £137m raised today = £411m When SXX moved to the main market it did wonders for the share price.
13/9/2017
18:06
arf dysg: Alternatively, you could wake up to the share price having gone up to 300p, but due to mysterious events beyond your control, the price dropped to 239.9p for half a second and the market makers stole your shares. It is possible that the level of the guaranteed stop loss is published, so all the market makers put the price just below that level for a fraction of a second.
06/9/2017
10:05
defcon3: Although you can't currently trade shares in Central Asia Metals (CAML), given my bullishness on the company I felt that I should take a look at the current situation following news of a suspension in trading at the start of the week.Often when you see this type of RNS from an AIM resources company you immediately assume the worst, but in the case of Central Asia Metals I still very relaxed about the decent sized shareholding that I have in this Kazakhstan-based copper miner. In this case, the news was cited as having been sparked by a press enquiry about advanced talks that it is currently having with a third party, which could ultimately lead to a reverse takeover.This news seemed to cause panic and plenty of speculation amongst private investors on the bulletin boards, with all sorts of theories being put forward – the favourite seeming to be that a deal was being done for fellow AIM-listed miner Atalaya (ATYM), and its Spanish copper operations.I'm not really sure where people got that idea from – other than maybe trying to give shares in Atalaya a further boost! – but not only does it not really fit in with the part of the world where Central Asia, and those running the company, have typically operated, but it also wouldn't constitute a reverse takeover anyway, so I think we can dismiss that as a possibility.A reverse takeover under AIM rules typically involves a private company using it as a way of gaining a market listing, especially on markets such as the UK, without having to pay the fees, and often the listed company will just be a shell. Alternatively, it can also involve a company taking over one with a greater market cap, but if that was the case here and the other business was listed in London, then I would expect trading in that company to have been suspended at the same time.The difference here to many situations is that Central Asia has been performing very well of late, and people are expecting the next set of results to be even better, with further significant cash build on top of the $40 million odd that it had in the bank at the end of 2016. It also makes a very healthy net profit – over $26 million for 2016 during which time it achieved an average selling price of just $2.26 per pound for its copper. The metal has now convincingly broken above $3.1/lb, and the company should be in a very strong position financially.At a share price of 255p and a market cap of £280 million – not to mention a very healthy dividend yield in the region of 6% - I would argue that many investors had half been expecting a bid to come in for the company, given how cheaply it appeared to be trading. With that in mind, I can see an outside possibility that this current move is actually to fend off potential predators looking to take the company out cheaply.When it comes to exactly which private company it could be looking to do a deal with, that is anyone's guess, but given that Kazakh oligarch Kenges Rakishev holds over 19% of the shares here, I wouldn't be surprised if it involves one of the many companies under his control. If that is the case then some may see that as a concern, but given that other institutional investors hold around 47% of the shares, they aren't going to let a deal go ahead unless it is of benefit to the company.I believe that is also the case when it comes to the board, who not only have built the company to a level where it is making a profit, but since listing in 2010 have also managed to return all of the $60 million raised initially, via dividends – a minimum of 20% of gross annual revenue - and share buybacks. So it certainly isn't an outfit that is in the business of milking investors! It is also a company that has been extremely careful with its money and investments, so I would have to assume that the current opportunity is too good to ignore, given that it was only last November when it acquired an 80% interest in the Shuak exploration licence, and I fully expect the current potential deal to relate to larger producing assets.The team behind the company has a lot of experience in the sector, and executive chairman Nick Clarke was managing director at Oriel Resources at the time of its $1.5 billion acquisition by OAO Mechel, so he does have form in the mergers and acquisitions area. Barring anything negative completely out of the blue, which would seem unlikely given the recent operations update that stated that everything was at least on forecast, I remain optimistic that this potential transaction will be good for the company, and of course for shareholders in the long term.In the meantime though anyone who is holding shares here will just have to remain patient until full details of any potential deal emerge, or negotiations breakdown – at which point I would expect the company to recommence trading and to continue performing well, especially if copper prices are still this buoyant.
04/9/2017
10:52
bushranger: Of couse CAML will think the deal is good but that will not mean a higher share price. It could be the opposite. Yes the desl could not go through via colapse or voting down. So months of suspension of share price with what outcome at the end?
04/9/2017
08:56
bushranger: No. It could be CAML buying a distresed larger company. Like the SAVP RTO. Though unless the deal turns out to be value adding, by a good margin, PIs are losers. We had a rising share price on increasing copper price and soon to issue results that could have boisted this substantially. Instead we are suspended for perhaps many months with s final deal that could put the share price lower.
17/8/2017
12:15
gary1966: Hoorah, some life in the share price at last. Maybe people are starting to realise we produce and sell copper and the price has gone up a bit recently. At these copper price levels this share has got to be worth £3. Hopefully the results will ram home the gearing effect of the rising copper price on profits and cash flow that will only be increasing going forward as it stands at the moment. Do CAML have any history of hedging the copper price for part of their production in the past? If not then I wonder if it is something they would entertain if the copper price keeps rising.
26/7/2017
06:55
gersemi: Copper flying and CAML price flaccid ..Top drawer cash generation, no debt so what gives here? Is it a distressed seller?
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