Central Asia Metals plc (CAML) Earnings Call Transcript & Summary

Hello, and welcome to BlytheRay Business News. Today, we're talking about Central Asia Metals plc, listed with AIM market in London, a ticker of CAML and a market capitalization of around GBP 411 million. I'm joined by Nigel Robinson and Gavin Ferrar.

Nigel, you've been Chief Executive of Central Asia Metals since 2018, some 6 years. Today, you've announced that on the 1st of October, you'll be stepping down as Chief Executive. Why have we come with that decision?

Yes, it's an important decision for the company. And firstly, I'd like to say it's been an owner and a privilege having been the CEO of Central Asia Metals for the past 6 and a bit years and prior to that, the CFO for 9 years, and something I'm particularly proud of. We've achieved a lot in that time. I'd like to say thank you, certainly to Gavin and Louise who've been supporting me over the last 6 years as fellow directors and all of the team and all the Board of Directors as well. And also thanks to all of our shareholders who have been supportive and all our wider stakeholders across the whole company's group footprint effectively. And in that time, we've achieved a lot. I think it's fair to say. I think I'm leaving the company in a very strong financial position. We have a very strong balance sheet. I think we've performed financially very well. And some of the achievements over the years, I mean, in particular, the integration of Sasa, integrating that from when we purchased it back in November 2017. So we've now owned it for 6 years and the developments that we've invested in at Sasa to bring it into the 21st century and to develop the mining approach that we've got at Sasa to extend the life of that mine up to 2039. So very proud of those things. At Kounrad, as you know, we've owned Kounrad and operating Kounrad having developed it from 2010. And that one has run steadily over the past 5 or 6 years, do you remind [indiscernible] was the CEO. So I'm very proud of that as well with 2 strong operations that I'll leave handing over to Gavin to become the CEO soon. And also our ESG credentials in the market, I think we've worked hard over that. I think we've got good credibility in the marketplace for that. And obviously, as many people know who follow us, we have got a challenge of growing the business on the business development side. I think we've done quite a bit over the past 12 months. We've invested in Aberdeen Minerals, GBP 5 million, up to GBP 5 million with investments in then in early stage exploration as well as CAML X. So we're making inroads and movements on the business development to grow the business. So I think the time is now right for me to hand over to Gavin as the next CEO. And in terms of things that I'm particularly proud of within the group, it's the team. I think the people that we've actually developed over that period of time, myself, Nick and Howard were growing the business. We've developed a really strong team. I think we've got a really good credibility in the marketplace for a company that delivers on its promises, and acts with a lot of integrity and honesty. And I think also our financial performance. I mean over the years that we've been spending dividends, we've paid back $339 million in dividend, very strong financial performance at both of our assets. And as I said before, I think I'm leaving in the company in a strong financial and operating position.

So 6 years of success. Gavin let's come to you, you until now have been the CFO, the Chief Financial Officer of Central Asia Metals. As Nigel mentioned, you're now going to be succeeding him as Chief Executive. Congratulations. Could you give the viewers a benefit -- a bit of background about yourself, what were you doing before you joined CAML? What have you done while you've been at CAML?

Okay. Sure. Well, I think the first thing I'd say, Tim, is I'm very grateful to the Board and to Nigel, actually for supporting me in this transition and make me -- supporting me in the step-up to CEO. I think, as Nigel said, the company is being left in very good shape. So I'm very fortunate that I'm inheriting something that's hopefully going to travel smoothly from here on in. In terms of my background, I think the key thing is I've sort of been in the mining industry pretty much of a whole lot. I grew up in sight of a head frame, got into mining by studying geology at university and took that all the way through to a postgraduate level. Then worked in the industry for a number of years, mainly for Anglo American on projects in Africa and also in the new mining business development unit. Whereupon I sort of moved over to London and studied finance, got that to a sort of postgrad degree as well, too much study, I guess. But that was quite useful, because I sort of started a career in London in investment banking, which gave me sort of fantastic capital markets experience, good experience of project evaluation and financings around acquisitions, around project development, all those sort of things, which will hopefully be very useful to CAML going forward.