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Central Asia Metals reinstates dividend
StockMarketWire.com
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AIM-listed copper and lead miner Central Asia Metals announced it would pay an interim dividend of 6p per share after its interim payment was deferred earlier this year due to leakage from its Sasa tailings storage facility in North Macedonia.
Sasa's production has returned to 100% capacity over the last month while the total cost of the TSF4 incident, comprising dam repairs and engineering improvements to the facility as well as environmental aspects, is expected to be below $1.5m as previously guided.
The firm observed that metal prices have generally recovered well during the second half of 2020 with the copper price up 50%, the zinc price up 45% and the lead price up 17% from their respective first half lows.
'We are delighted to recommend an interim dividend of six pence per share, which will be paid before the end of the year, and we appreciate the patience and continued support of our shareholders over the last two months' said chief executive Nigel Robinson.
At 8:30am: (LON:CAML) Central Asia Metals PLC share price was +5.8p at 188.2p
Story provided by StockMarketWire.com
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