Central Asia Metals PLC (AIM: CAML) has received approval, from the Macedonian Competition Commission, for the acquisition of Lynx Resources (see post 24 Sept). Therefore, the transaction is expected to be completed on 6 November 2017.
About Lynx Resources
Lynx is a Bermudan holding company set up explicitly to acquire the Sasa mine in 2015, and is co-owned by Orion Co-Investments III LP and Fusion Capital AG.
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. On 6 November 2017, CAML completed the US$402.5m acquisition of Lynx Resources (Lynx), which owned the producing lead-zinc Sasa mine, in Macedonia. 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.