Central Asia Metals (CAML) the AIM-listed copper producer, has announced that it is in advanced talks with a third party which may lead to a reverse takeover transaction. At the company’s request, its shares were suspended this morning from trading on AIM and will remain so until either the publication of an admission document setting out details of the intended transaction.
The company says that it will make further announcements in the coming weeks if, and when, they become appropriate.
About Central Asia Metals
CAML is a dividend-paying, base-metal producer with operating assets in Kazakhstan and, most recently, Macedonia. The company’s primary focus is a low-cost, copper dump treatment operation associated with the Kounrad copper mine in Kazakhstan, from which it has produced copper metal since 2012. Elsewhere in Kazakhstan, the company is exploring a copper and gold prospect at Shuak.
The company completed an IPO on AIM in 2010, raising gross proceeds of US$60m (net proceeds of £35m), all of which and more has been returned to shareholders through dividends. CAML’s corporate headquarters are in London, with operational management in Balkhash, Kazakhstan, and at the new mine site in Macedonia.
CAML in advanced talks for reverse takeover transaction: suspends trading : CAML