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Anglo Asian Mining PLC

Anglo Asian’s full year gold production hits the top end of guidance

Production is on the rise, as the company intensifies efforts to boost its resource base

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The total dividend payout in November was US$3.4mln

Anglo Asian Mining PLC (LON:AAZ) produced 83,736 gold equivalent ounces from its mines in Azerbaijan during the year to December 2018, at the upper range of guidance.

The figure represented a 17% year-on-year increase in total production.

READ: Anglo Asian heads higher as confidence in Gedabek licence grows

During the fourth quarter net cash increased by US$3.3mln to US$6.1mln, following the distribution of a US$0.03 per share maiden dividend that was paid in November.

"This has been another excellent quarter which has resulted in Anglo Asian achieving full year production at the upper limit of its guidance of 84,000 gold equivalent ounces,” said chief executive Reza Vaziri.

“The company is actively working towards, and investing in, the future expansion of our various operations and in line with this, Anglo Asian continues to both better define its current resources through publication of JORC resources for its existing mines and to maximise the potential of its current licence areas. In this respect, in the first quarter of 2019 we expect to both release a JORC resource for the existing Gadir underground mine and also publish the results of the helicopter survey.”

 

 

Quick facts: Anglo Asian Mining PLC

Price: £1.63

Market: AIM
Market Cap: £185.89 m
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