Gavin Ferrar
CEO & Director
Welcome to the Central Asia Metals Half 1 Interim Financial Results for 2025.
I’ll start off with a summary of production and financial highlights. And you can see on the right-hand side of your slide there that we produced 6,218 tonnes of copper from our Kounrad operation in Kazakhstan. And from our Sasa lead, zinc mine in Macedonia, produced 8,692 tonnes of zinc and 12,613 tonnes of lead. All this was done in a very safe fashion, and we’re very pleased that we achieved 0 lost time injuries for the first half.
These operations drove good financial performance. We generated revenue of $99.5 million and EBITDA of $39.9 million for a margin of 40%. Importantly, today, we announced a dividend at 4.5p and supplemented by a $10 million share buyback program, which will commence today. That keeps our cash returns to shareholders consistent and comparable to the half 1 2024. We have a strong balance sheet and positive cash flow, $47.7 million in the bank, and that will be boosted by returns received related to the New World Resources transaction of both the break fee plus also the sale of shares in that company.
Kounrad maintains its position on the cost curve and the capital projects at Sasa effectively completed for the year. Now that gives you the backdrop to the financials that Louise is going to run you through right now.
Louise Wrathall
CFO & Executive Director
Thanks, Gavin. If we go to — yes, market conditions slide. Thank you. So yes, if we just spend a minute looking at the market conditions, which frame the results that
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