Central Asia Metals PLC (AIM:CAML, OTC:CAMLF) shares fell around 20% to 191.1p after the miner warned of a shorter lifespan for the Sasa zinc-lead operation, in North Macedonia, with a new life-of-mine plan resulting in a non-cash impairment charge of up to US$120 million.
The AIM-listed group said a comprehensive review of 2025 performance now puts Sasa’s mine life at 2034, a five-year reduction versus the plan previously envisaged, based on the Svinja Reka reserve and resource.
Chief executive Gavin Ferrar said the expected impairment would hit reported earnings but “does not in any way affect the Group’s cash generation” or its intention to keep paying dividends.
CAML also reported a lower reserve base. Ore Reserves at 31 December 2025 were 6.9Mt grading 2.5% zinc and 3.5% lead, down from 9.2Mt a year earlier, reflecting mine redesign, higher cut-offs and updated commercial assumptions.
