30 January 2011
ASX / MEDIA ANNOUNCEMENT
16 December 2014
Kazakhstan Operations Update
Central Asia Resources Limited (the Company) (ASX: CVR) is pleased to provide an update on its
Dalabai gold operation in Kazakhstan:
Gold production continued with 145 ounces of gold and 1,113 ounces of silver in
November
Discussions continue with Halyk Bank for second tranche of project finance
Gold Production
Gold production from Dalabai has continued with a shipment of resin sent off-site for desorbtion during November. The resulting gold and silver cathode production contains approximately 145 ounces of gold and 1,133 ounces of silver. The higher than usual silver to gold ratio reflects the higher silver values contained in the Central Pit, from which most of this production was sourced.
The value of the anticipated gold sale from this material is expected to be approximately
US$215,000.
Project Finance
Discussions continued with Halyk Bank regarding the re-draw facility from Tranche 1 funds and advancing the second tranche of funds, to maintain and escalate production at Dalabai. While discussions are ongoing with Halyk Bank and other potential lenders, the Dalabai gold operation will remain on hold.
AltynTas
The Company is working with its consultants to update the Altyn Tas resource to JORC 2012 compliance and will provide further information once this review is complete.
Other
The Company's website www.centralasia.com.au recently experienced a partial system failure with loss of Project and Management data, which has now been restored.
END
C/o- 311-313 Hay St, Subiaco, Western Australia 6008
PO Box 8282, Subiaco, Western Australia 6008
P: +61 8 6489 0600 F: +61 8 9388 3701
ABN: 13 113 816 158
ASX / Media Announcement
Kazakhstan Operation Update
For further information contact:
Peter Thompson
Managing Director
Central Asia Resources Limited
Ph: (+61) 417 979 169
(+7) 771 507 2936 [email protected]
Jason Campbell
Company Secretary
Central Asia Resources Limited
Ph: +61 8 6489 0600
About Central Asia Resources
Central Asia Resources Limited (ASX: CVR) is focused on exploration, development and production of gold in Kazakhstan. The Company holds two license areas in Kazakhstan. These include four deposits with JORC Resources, all of which have exploration upside, and areas of significant prospectivity based on extensive exploration during Soviet times. The license areas are within recognised gold belts, and close to operating mines and infrastructure. Trial mining commenced at the first project, Dalabai in February 2012 using shallow open pit mining and heap leach technology, with a further 1,040oz produced in late 2013 from leaching of stockpiled material.
Disclaimer
Certain statements included in this announcement may constitute forward looking information. This information is based upon a number of estimates and assumptions made by the Company in light of its experience, current conditions and expectations of future developments, as well as other factors that the Company believes are appropriate in the circumstances. While these estimates and assumptions are considered reasonable, they are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirement s, commodity prices, exploration, acquisition, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward - looking information is no guarantee of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking information due to the inherent uncertainty therein. Forward-looking information is made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by law.
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