Q1 2020 saw output gains for all three of the base metals CAML produces versus the corresponding period of 2019 and puts the group on course to meet both fullyear guidance and our estimates, assuming no COVID-19 related disruptions. With cases of the virus increasing in both Kazakhstan and North Macedonia, the latter cannot be ruled out. But with a strong balance sheet and amongst the lowest opex structure in the junior mining sector, CAML is in our view well positioned to navigate a future temp ....
