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Anglo Asian Mining PLC

Anglo Asian Mining on course for another record year

Increased copper production will boost output, said the Azerbaijani miner

miners
Copper production is rising at Gedabek

Anglo Asian Mining PLC (LON:AAZ) expects to produce 82-86,000 gold equivalent ounces in 2019, which would be a new record for the junior at the top of the forecast.

Increased copper production will boost output said the Azerbaijani miner, with between 3,100 and 3,300 tonnes forecast or double 2018’s total.

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

Gold production will drop to between 65-67,500oz from 72,800oz in 2018.

Reza Vaziri, Anglo Asian's chief executive, said: "2019 will be another year of delivery for Anglo Asian with total metal production of between 82,000 to 86,000 gold equivalent ounces planned by our operations team.

“This demonstrates the sustainability of our business and builds on our record production of 83,736 gold equivalent ounces in 2018.

“The increasing proportion of our production as copper and gold in concentrate also highlights the versatility of our processing operations.”

Results from a helicopter survey over the Gedabek mine licence area and a JORC mineral resource for the underground mine at Gardir should both be released this quarter, Vazeri added.

 

Quick facts: Anglo Asian Mining PLC

Price: £1.63

Market: AIM
Market Cap: £185.89 m
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