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Anglo Asian on track for FY production guidance, says CFO

Bill Morgan, chief financial officer of Azerbaijan-focused Anglo Asian Mining Plc (LON:AAZ), says the company has seen a “noticeable pick up in production in April and May-to-date” which gives him confidence the company will meet full year targets.

The first quarter of the year was behind last year’s pace, due to bad weather at the mine, but the recent pick-up, coupled with the installation of a new sag mill in the third quarter, mean the company “should be able to meet our forecasts”, he says.

Morgan speaks to Proactive Investors as Anglo posted 2015 results, which showed record gold production from its Gedabek mine with total output of the yellow metal rising to 72,032 ounces, compared to 60,285 ounces in 2014.

Quick facts: Anglo Asian Mining PLC

Price: 119.02 GBX

AIM:AAZ
Market: AIM
Market Cap: £136.15 m
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Anglo Asian Mining present at the Proactive One2One Virtual Forum

Anglo Asian Mining's CFO Bill Morgan and Stephen Westhead, Director of Geology & Mining, present at the Proactive One2One Virtual Forum. Anglo Asian Mining PLC is quoted on AIM (ticker – AAZ) and has a portfolio of gold, copper and silver production and exploration assets in Azerbaijan....

on 2/10/20

2 min read