Central Asia Metals has risen sharply this morning after announcing the "material" completion of its Kounrad copper mine in Kazakhstan.
The company is also set to acquire a 100% stake in the project after the government of Kazkhstan sold its 40% interest.
The firm says it expects production to begin in April, with Nick Clarke, the Chief Executive, emphasising that he will not need additional funding.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Kounrad is expected to produce around 10,000 tonnes per year of copper.
Central Asia's share price was up 7.28% at 11:46am after an initial jump of 11% in early trading.
Over the last 12 months the stock has lost 24% of its value.
BS
-
Wage growth in UK jumps ahead of inflationLatest job market data from the ONS shows that wages grew faster than inflation from September to November, but also reveal a worrying rise in unemployment rates
-
Transformed companies displaying momentum and top-quality growthAlex Savvides, manager of Jupiter UK Dynamic Equity Fund, highlights three companies as he tells us where he'd put his money
