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Anglo Asian set for year of consolidation as it explores and develops in Azerbaijan

Production is also sent to start at the newly discovered Ugur gold ore body
picture of gold bars
Anglo Asian is back in profit

Azerbaijan-focused Anglo Asian Mining Plc’s (LON:AAZ) focus this year will be extensive exploration and production optimisation at the main open pit at Gedabek and the Gadir underground mines.

Production is also sent to start at the newly discovered Ugur gold ore body, chief executive Reza Vahiri told shareholders at its annual meeting.

“We are also testing a new configuration of the flotation and agitation leaching plants to give us added flexibility in processing.

“We have extensive stockpiles of ore which can now be processed whilst mining is temporarily paused during exploration and production optimisation.

“With this in mind, we have declared a production target for FY 2017 of between 64,000 gold equivalent ounces (GEOs) and 72,000 GEOs.” 

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