Anglo Asian Mining Plc (LON: AAZ) has said that 2017 was a year of delivery for the company as it has implemented a wide-ranging optimisation and expansion strategy to provide long-term sustainable production growth at Gedabek contract area.
In a statement to be delivered at today's annual general meeting, Reza Vaziri, CEO of the company, said that these initiatives ‘have proved overwhelmingly successful’ and the group began 2018 with production growing and a much more robust platform to sustain this into the future.
He said: “In light of the group's prospects and current strong financial position, the board is now considering a dividend policy and the payment of a maiden dividend.”
Vaziri added that in 20017 the company achieved “a healthy total production output of 71,461 gold equivalent ounces”.
The company has estimated the total production for the financial year 2018 at between 78,000 to 84,000 gold equivalent ounces.
“The company also achieved a 26 per cent increase in year-on-year gold equivalent ounces production in the first quarter of 2018, further highlighting the strong growth we are experiencing following the implementation of our expansion and optimisation programme,” Vaziri said.
In early morning trading, Anglo Asian Mining shares jumped 3.6% to 43.00p