Anglo Asian Mining PLC's (AIM:AAZ, OTC:AGXKF) shares jumped as much as 8% as investors welcomed its forecast for record copper production in 2025.
The company expects to produce between 6,500 and 6,800 tonnes of copper, a huge increase from just 377 tonnes in 2024.
Gold output is also set to rise sharply, with production expected to reach up to 33,000 ounces, more than double last year’s total.
Revenue is projected to hit between $110 million and $125 million, with earnings before interest, tax, depreciation and amortisation (EBITDA) estimated at $45 million to $55 million.
Further gains could come from the planned restart of mining at Demirli later this year. CEO Reza Vaziri called 2025 a “milestone year” as the company shifts focus toward copper production.
After an initial spurt, the shares settled at 115p, up 2%.