Anglo Asian Mining produced 13,720 gold equivalent ounces from its mines in western Azerbaijan in the three months to 31 March 2022.
Total gold bullion sales were 7,519 ounces at an average of $1,904 per oz (Q1 2021: 5,635 ounces at $1,697 oz) with cash at the period end of US$29.4mln (US$37.5mln).
Gold production during the period was 10,040oz (Q1 2021: 11,907oz), copper 568 tonnes (638 tonnes) and 50,689oz (35,365oz).
Reza Vaziri, chief executive, said it was a "solid start" to the year at its Gedabek mine.
"We are staying very focused on commencing production this year at Vejnaly and at the recently discovered Hasan vein at Gosha.”