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Anglo Asian Mining PLC

Anglo Asian Mining publish reserves estimate for the Gadir underground mine

Anglo Asian is currently finalising the Gadir resources statement and ore reserves estimate in accordance with the JORC (2012) Code and will publish the full JORC (2012) Gadir mineral resources and ore reserve estimates by the end of March of this year

Gold ore
The amount spent on geological exploration in 2018 was US$4.5mln

Anglo Asian Mining PLC (LON:AAZ) has published its mineral resources and ore reserve estimate for its Gadir underground mine in Azerbaijan.

Measured and indicated mineral resources (at a cut-off grade of 0.5 grammes per tonne of gold) clocked in at 1,775 thousand tonnes at a grade of:

  • 2.54 grammes per tonne (g/t) gold containing 145.2 thousand ounces of gold

  • 12.9 g/t silver containing 736.1 thousand ounces of silver

  • 0.21% copper containing 3,295 tonnes of copper

  • 0.84% zinc containing 14,470 tonnes of zinc

READ Anglo Asian Mining on course for another record year

The inferred mineral resources, at a cut-off grade of g/t, totalled 571,000 tonnes at a grade of:

  • 1.48 grammes per tonne gold containing 27.2 thousand ounces of gold

  • 5.68 grammes per tonne silver containing 104.4 thousand ounces of silver

  • 0.1% copper containing 571 tonnes of copper

  • 0.52% zinc containing 2,972 tonnes of zinc

Proved and probable ore reserves (at a cut-off grade of 1.2 grammes per tonne of gold) totalled 797,000 tonnes at a grade of 2.73 grammes per tonne gold containing about 70,000 ounces of gold, 11.86 grammes per tonne silver containing 304 thousand ounces of silver and 0.17% copper containing 1,387 tonnes of copper.

The company also revealed it will declare a minimum final dividend for 2018 of 3 cents (US) a share and a minimum total dividend in respect of 2019 of at least 6 cents.

Quick facts: Anglo Asian Mining PLC

Price: £1.38

Market: AIM
Market Cap: £157.29 m
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