Anglo Asian Mining Plc (LSE:AAZ, OTC:AGXKF) vice president Stephen Westhead takes Proactive's Stephen Gunnion through the company’s latest interim results and recent operational progress.
Westhead highlighted a transformational period for the company, including the successful commencement of production at the Gilar and Demirli mines within the Gedabek Contract Area. Gilar entered production in May and is already contributing significant copper and gold grades. Demirli has now begun development and is expected to produce approximately 4,000 tonnes of copper in concentrate by the end of 2025.
The company reported a return to profitability, with profit before tax of US$7.1 million, and revenues more than tripling to nearly $41 million. Westhead noted, “We managed to return to profitability and achieved $7.1 million profit before tax. Our revenues have more than tripled to nearly $41 million.”
He explained that Anglo Asian is transitioning toward becoming a mid-tier copper-focused producer, supported by its existing operations at Gedabek, Gilar, and Demirli, along with future development of the Xarxar and Garadag copper projects.
The company also recently experienced the highest share price in its history, underscoring strong market confidence.
Anglo Asian expects continued momentum in the second half of the year with production ramp-ups and exploration studies underway.
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