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AIM:AAZ FRA:A4A

Anglo Asian Mining PLC

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Market:
AIM
Market Cap:
£154.43 m
Price
135.00 GBX
Change
-5.26%
52 weeks high
175.00
52 weeks low
68.65

Anglo Asian Mining PLC’s strategy is to build a leading gold, copper and silver producer in Azerbaijan and Caucasia by using its first mover advantage and to leverage the experience of its Board and management team.

Key pillars of the strategy are as follows:

  • Formalise mineral resources and ore reserves for all existing mines
  • Optimisation of gold and copper production at its Gedabek site from existing mines
  • Increase its production profile by identifying further resources and reserves in proximity to its existing mines
  • Pursue a comprehensive geological exploration programme to extensively explore all of the land of its contract areas for new deposits to open new mines
  • Ramp up exploration at Ordubad which is an untapped value opportunity
  • Aggressively pursue any suitable opportunities outside of Azerbaijan

The Company will also look to develop the 900 square kilometre additional licences it holds in the occupied territories when the political situation permits.

 

Anglo Asian Mining PLC’s operations span three contract areas in Azerbaijan covering 1,062 square kilometres: Gedabek, Gosha & Ordubad

  • Gedabek: the site of the Gedabek Open Pit Mine, the Ugur Open Pit Mine and also Gadir, a co-located underground mine.
  • Gosha: where the Company is operating a small, high grade mine.
  • Ordubad: an early stage gold and copper exploration property located in the Nakhchivan region of Azerbaijan.

The Company processes all its ore at the Gedabek site using predominantly heap and agitation cyanide leaching. It has also built a flotation plant to exploit the high copper content of the ore.

Tethyan Tectonic Belt

Anglo Asian Mining PLC’s assets are located within one of the world’s significant gold and copper bearing trends, the Tethyan Tectonic Belt, which extends from Pakistan to the Balkans running through Iran, Azerbaijan, Georgia and Turkey.

The major operating mines within the Tethyan Tectonic Belt contain porphyry copper deposits that are some of the largest sources of copper in the world and also yield significant quantities of gold and molybdenum.

Major copper, gold and molybdenum deposits in the belt include:

  • Sar Chesmeh & Sungun (500 mt at 0.75% Cu, 0.01% Mo) in Iran.
  • Kadjaran (400 mt at 0.27% Cu, 0.055% Mo, 0.03 g/t Au) & Agarak (45 mt at 0.46% Cu, 0.027% Mo, 0.025 g/t Au) in Armenia.
  • Tekhout & Zod (4.3 mt at 7.3 g/t Au) in Armenia.
  • Cayeli (20 mt at 4.2% Cu, 0.8 g/t Au) and Cerateppe (3 mt at 5.1% Cu) in Turkey.
  • Madneuli (23.5 mt at 1.03 g/t Au) in Georgia.

Mr Khosrow Zamani *
Non-executive chairman, age 75


Khosrow Zamani was director of the southern Europe and central Asia department of the International Finance Corporation (“IFC”), the private sector lending arm of the World Bank, from March 2000 to July 2005. He was responsible for the IFC investment programme and strategy in 15 countries across the region. Whilst a director at IFC, Khosrow was instrumental in building the IFC investment portfolio in the region with several new initiatives, particularly in central Asia and Caucasia. He oversaw the IFC portfolio of more than $2 billion, diversified across the financial, oil and gas, mining and manufacturing sectors. Khosrow has over 30 years of experience in investment and project finance and banking in emerging markets. He holds an MSc in Engineering from the United States of America and a master of business operations and management from the United Kingdom. He is currently a non-executive board member and chairman of the corporate governance committee of Sekerbank A.S., a publicly listed commercial bank in Turkey, a non-executive board member and a member of the compensation committee of Komercijalna Bank, Serbia.

* Independent non-executive director.

Mr Reza Vaziri
President and chief executive, age 65


Reza Vaziri has been actively involved in business in the Republic of Azerbaijan since just after its independence. Since R.V. Investment Group Services LLC, now Anglo Asian’s subsidiary, signed a Production Sharing Agreement with the Government of the Republic of Azerbaijan, Reza has been focused on developing Anglo Asian Mining PLC into a significant gold producer in the Caucasia and central Asia region. Prior to his business career, Reza held a number of high-ranking positions in the pre-revolutionary Iranian government. He was the head of the Foreign Relations Office at the Ministry of the Imperial Court of Iran. At the time of the revolution, he was chief of the office of political and international affairs. Reza holds a law degree from the national university of Iran. As founder and co-chairman for life of the board of directors of the US–Azerbaijan Chamber of Commerce with James A Baker IV, Reza dedicates much of his time furthering business relations between the two countries. Reza serves alongside such directors as James Baker III, Zbigniew Brzezinski, Governor John Sununu and Henry Kissinger. Reza resides in Baku, London and Washington, DC.

Mr Richard Round *
Non-executive director, age 60


Richard Round has held senior finance and leadership roles in a range of quoted and private companies. Richard now maintains a portfolio of non-executive director and board advisory positions in the energy, mining and technology development sectors. Most recently, Richard led the strategy and ultimate sale of hydro developer Green Highland Renewables prior to which he successfully secured around £70 million of funding for the development of the Oyster wave power technology for Aquamarine Power. Prior to joining Aquamarine Power, Richard was acting chief executive at the quoted group, Novera Energy plc where he led the sale of the landfill gas, wind and hydro group. Richard has also held a number of finance director roles in the renewable, oil and gas service, coal and mining sectors with companies including Mining Scotland, Consolidated Supply Management and Cambrian Mining plc. Richard was also finance director of Anglo Asian Mining PLC where he stepped down in July 2008 and was appointed a non‑executive director.

Governor John H Sununu
Non-executive director, age 78


Governor John Sununu received a PhD from Massachusetts Institute of Technology and taught engineering at Tufts University for 16 years. He served three terms as the Governor of New Hampshire before President George H W Bush appointed him chief of staff in 1989, a position that he held until March 1992. After his tenure as chief of staff, he co-hosted CNN’s Crossfire, ran an engineering firm and then, in 2004, served as the visiting Roy M and Barbara Goodman family professor of practice in public service at the Kennedy School of Government at Harvard University. John is a former partner in Trinity International Partners, a private financial firm, and currently serves as president of JHS Associates Ltd.

* Independent non-executive director.

Professor John Monhemius *
Non-executive director, age 75


Emeritus professor John Monhemius held the Roy Wright Chair in mineral and environmental engineering at the Royal School of Mines, Imperial College, London until 2004, when he retired from full-time academic work. From 2000 to 2004, he was dean of the Royal School of Mines. He has more than 40 years of experience of academic and industrial research and development in hydrometallurgy and environmental control in mining and metallurgical processes, particularly in the management of toxic wastes and effluents, and he has acted as a consultant to many large mining and chemical companies. John has published over 130 papers of scientific literature and he has supervised more than 30 PhD students. From 1986 to 1996, he was a co-founder and director of Consort Research Ltd, a consultancy specialising in gold and base metal ore processing, and he is a former director of Obtala Resources plc.

* Independent non-executive director.

Azerbaijan office

Anglo Asian Mining plc

3rd Floor
Tower 2
Hyatt Regency Business Centre
1033 Izmir St
Baku 1065
The Republic of Azerbaijan

Tel: +994 (12) 596 3350
Fax: +994 (12) 596 3354

Registered office

7 Devonshire Square
Cutlers Garden
London EC2M 4YH
United Kingdom

Tel: +994 (12) 596 3350
Fax: +994 (12) 596 3354

PR/IR contact

St Brides Partners Ltd
Salisbury House
London Wall
London EC2M 5QQ
United Kingdom

Tel: 0207 236 1177
[email protected]

Nominated Adviser and broker

SP Angel Corporate Finance LLP
Prince Frederick House
35-39 Maddox Street
London
W1S 2PP

Tel: 020 3463 2260

Nominated Adviser and Broker
S.P. Angel Corporate Finance LLP
Prince Frederick House
35-39 Maddox Street
London W1S 2PP
United Kingdom

Bankers – UK
Barclays
1 Churchill Place
London E14 5HP
United Kingdom

Bankers – Azerbaijan
International Bank of Azerbaijan
67 Nizami Str.
Baku
Azerbaijan

Bankers – Azerbaijan
Yupi Kredi Bank Azerbaijan JSC
32 J. Jabbarly Str.
Baku
Azerbaijan

Registrar
Link Asset Services
The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU
United Kingdom

Auditors
Ernst & Young LLP
1 More London Place
London SE1 2AF
United Kingdom

Financial PR Advisers
St Brides Partners Ltd
Salisbury House
London Wall
London EC2M 5QQ
United Kingdom

Solicitors – United Kingdom
Squire Patton Boggs (UK) LLP
7 Devonshire Square
Cutlers Gardens
London EC2M 4YH
United Kingdom

Solicitors – Azerbaijan
Nazal Consulting LLC
36 Islam Safarly Str.
Baku
Azerbaijan

 

AZERBAIJAN OFFICE

Anglo Asian Mining plc

3rd Floor
Tower 2
Hyatt Regency Business Centre
1033 Izmir St
Baku 1065
The Republic of Azerbaijan
Tel: +994 (12) 310 3993

REGISTERED OFFICE

Anglo Asian Mining plc

7 Devonshire Square
Cutlers Garden
London EC2M 4YH
United Kingdom
Tel: +994 (12) 310 3993

PUBLIC RELATIONS

Blytheweigh

4-5 Castle Court
London EC3V 9DL
United Kingdom
Tel: +44 (0)20 7138 3204
Email: [email protected]

 

INVESTOR RELATIONS

Reza Vaziri

Anglo Asian Mining PLC
Tel: +994 12 596 3350

 

Bill Morgan

Anglo Asian Mining PLC
Tel: +994 502 910 400

 

Camilla Horsfall

Blytheweigh Financial
Tel: +44 (0)20 7138 3224

 

Megan Ray

Blytheweigh Financial
Tel: +44 (0)20 7138 3224

 

NOMINATED ADVISER AND BROKER

S.P. Angel Corporate Finance LLP

Prince Frederick House
35-39 Maddox Street
London W1S 2PP
United Kingdom

BANKERS – UK

Barclays

1 Churchill Place
London E14 5HP
United Kingdom

 

BANKERS – AZERBAIJAN

International Bank of Azerbaijan

67 Nizami Str.
Baku
Azerbaijan

 

BANKERS – AZERBAIJAN

Pasha Bank OJSC

13, Yusif Mammadaliyev Street
Baku
Azerbaijan

 

REGISTRAR

Link Asset Services

The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU
United Kingdom

AUDITORS

Ernst & Young LLP

1 More London Place
London SE1 2AF
United Kingdom

FINANCIAL PR ADVISERS

Blytheweigh

4-5 Castle Court
London EC3V 9DL
United Kingdom
Tel: +44 (0) 20 7138 3204
Email: [email protected]

SOLICITORS – UNITED KINGDOM

Squire Patton Boggs (UK) LLP

7 Devonshire Square
Cutlers Gardens
London EC2M 4YH
United Kingdom

SOLICITORS – AZERBAIJAN

Nazal Consulting LLC

36 Islam Safarly Str.
Baku
Azerbaijan