Central Asia Metals climbs on ownership deal

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.

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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