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Anglo Asian Mining reiterates gold production guidance

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Anglo Asian Mining (LON:AAZ) reiterated its production guidance to address inaccurate press coverage in Azerbaijan.

The company said it expects to produce 60,000 ounces of gold in 2010.

So far in the first nine months of the year it has produced 47,711 ounces of gold from the Gedabek mine in Azerbaijan.

Gold production over a six-year mine life is expected to exceed 300,000 ounces. Gedabek began producing in 2009.

In response to the local press coverage, which speculated on the company’s production targets up to 2015, the company said: “Anglo Asian updates the market on a quarterly basis regarding current and future production targets, and is committed to reporting any material changes to these forecasts.”

Quick facts: Anglo Asian Mining PLC

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Price: 123.5 GBX

Market Cap: £141.27 m

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