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Share Price: 67.00
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Change: 0.80 (1.19%)
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Open: 68.00
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Anglo Asian Mining reports record gold production

Thu, 10th Oct 2013 10:16

Anglo Asian Mining's shares rose after reporting record gold production in the third quarter at its flagship Gedabek mine in Azerbaijan.The company achieved gold output of 20,242 ounces at Gedabek - the most since the mine first started production in May 2009 - bringing the total for the first nine months to 37,700 ounces.Production was boosted by a new agitation leaching plant commissioned in June to improve gold recoveries. The group is targeting 22,300 ounces in the fourth quarter and 60,000 ounces for fiscal year 2013. Anglo sold 19,402 ounces at an average price of $1,328 per ounce in the third quarter, down from the previous quarter's average price of $1,438.In an effort to mitigate the effects of falling gold prices, the company is on track to deliver lower operating costs at Gedabek to $450 to $500 per ounce by the end of fiscal year 2013. "Our record quarterly gold production at Gedabek is a significant achievement and highlights the sound investment we made in building and commissioning our new Agitation Leaching Plant in June this year," said Chief Executive Officer Reza Vaziri."Not only will the Agitation Leaching Plant increase production, but it will help to lower cash costs of Gedabek too."At the end of the period the group held a net debt of $41.5m and a cash position of $6.2m. Vaziri added that "with $6m in the bank, and a second gold development project Gosha due to commence full production in 2014, we are ideally placed to deliver on our strategy of increasing our production profile and profitability to deliver enhanced value to shareholders".Shares rose 5.74% to 32.25p at 11:00 on Thursday.RD
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12 Sep 2023 17:35

Anglo Asian Mining shares up, expects Gebabek safety report next week

(Alliance News) - Anglo Asian Mining PLC on Tuesday said a draft report by Micon International Ltd on the Gebabek dam in Azerbaijan has now been prepared and is expected to be finalised next week.

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3 Aug 2023 11:34

CORRECT: Anglo Asian suspends flotation plant operation before report

(Correcting to clarify that cyanide levels at Anglo Asian Mining PLC's existing tailings dam in Azerbaijan were below the legal limit.)

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17 Jul 2023 13:22

Anglo Asian Mining says second dam approved; faces local protest

(Alliance News) - Anglo Asian Mining PLC on Monday said its preferred site for its second tailings dam in Gedabek, Azerbaijan has been granted by the country's government.

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13 Jul 2023 13:29

IN BRIEF: Anglo Asian outlines growth plan; backs gold production

Anglo Asian Mining PLC - Azerbaijan-focused copper and gold producer - Keeps production target of 50,000 to 54,000 gold equivalent ounces for 2023. Says total production in the first half of 2023 was 23,391 gold equivalent ounces. Adds copper production in the first six months of 2023 increased by 45% to 1,860 tonnes from 1,283 tonnes a year prior, while gold production fell by 30% to 14,608 ounces during the same period from 20,906 ounces the year before. Also announces its four-year strategic growth plan, which aims to reach 36,000 tonnes of copper equivalent production by 2028.

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22 Jun 2023 12:00

IN BRIEF: Anglo Asian building two new mines, profit and revenue down

Anglo Asian Mining PLC - Azerbaijan-focused copper and gold producer - Says operational and financial performances in 2022 were within guidance. Ahead of annual general meeting, says revenue for 2022 was USD84.7 million, down 8.4% from USD92.5 million the year prior. Pretax profit decreased 40% to USD7.5 million from USD12.6 million. Company held cash of GBP20.4 million at December 31. Notes it produced a total of 57,618 gold equivalent ounces, down 11% from previous year due to lower gold grades of ore processed. Looking ahead, says it has an "ambitious but achievable growth strategy." It is currently building two new gold mines, Gilar and Zafar, and says Zafar will start producing ore later this year.

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19 Jun 2023 14:31

IN BRIEF: Anglo Asian Mining announces forward sale of gold

Anglo Asian Mining PLC - Azerbaijan-focused copper and gold producer - Takes forward sale position for 4,600 ounces of gold bullion for seven months, starting from June. Says forward sales have been priced between USD1,949 and USD1,979.

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15 Jun 2023 15:51

UK shareholder meetings calendar - next 7 days

Friday 16 June 
Alpha Growth PLCAGM
Anglo-Eastern Plantations PLCAGM
Gulf Keystone Petroleum LtdAGM
John Lewis of Hungerford PLCGM re proposed cancellation of admission to trading on AIM
Tesco PLCAGM
Woodbois LtdAGM
Monday 19 June 
All ThingsConsidered Group PLCAGM
Blackbird PLCAGM
Finsbury Food Group PLCAGM
Globalworth Real Estate Investments LtdAGM
Marlowe PLCGM re proposed capital reduction
Metals Exploration PLCAGM
Red Rock Resources PLCGM re security conversion into shares for cash
Savannah Resources PLCAGM
Tuesday 20 June 
Acceler8 Ventures PLCAGM
Afentra PLCAGM
Armadale Capital PLCAGM
Bay Capital PLCAGM
Blackrock Smaller Companies Trust PLCAGM
Block Energy PLCAGM
Corero Network Security PLCAGM
Coro Energy PLCAGM
Crimson Tide PLCAGM
Curtis Banks Group PLCAGM
EPE Special Opportunities LtdAGM
ICG-Longbow Senior Secured UK Property Debt Investments LtdAGM
Jersey Oil & Gas PLCAGM
Kore Potash PLCAGM
Lords Group Trading PLCAGM
Mission Group PLCAGM
North Atlantic Smaller Cos Investment Trust PLCAGM
Red Capital PLCAGM
Saga PLCAGM
SDX Energy PLCAGM
Skillcast Group PLCAGM
Zegona Communications PLCAGM
Wednesday 21 June 
Argentex Group PLCAGM
Clean Power Hydrogen PLCAGM
Eqtec PLCAGM
Hydrogen Utopia International PLCAGM
HSS Hire Group PLCAGM
Intelligent Ultrasound Group PLCAGM
JD.com IncAGM
RTW Venture Fund LtdAGM
Schroders Capital Global Innovation Trust PLCAGM
Sivota PLCAGM
Numis Corp PLCGM re acquisition by Deuche Bank AG
THG PLCAGM
UK Commercial Property REIT LtdAGM
Thursday 22 June 
Alphawave IP Group PLCAGM
Angling Direct PLCAGM
Anglo Asian Mining PLCAGM
boohoo Group PLCAGM
Card Factory PLCAGM
Ergomed PLCAGM
Futura Medical PLCAGM
Good Energy Group PLCAGM
Grand Vision Media Holdings PLCAGM
Longboat Energy PLCAGM
MaxRets Ventures PLCAGM
Pathfinder Minerals PLCAGM
RBG Holdings PLCAGM
Sanderson Design Group PLCAGM
Team17 Group PLCAGM
Trellus Health PLCAGM
Whitbread PLCAGM

 

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31 May 2023 10:19

Anglo Asian hails extension to mineralisation at Gilar in Azerbaijan

(Alliance News) - Anglo Asian Mining PLC on Wednesday celebrated progress at one of its deposits in Azerbaijan, as drilling results confirmed an extension to previously reported mineralisation.

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16 May 2023 17:00

IN BRIEF: Anglo Asian Mining annual profit falls amid lower production

Anglo Asian Mining PLC - Azerbaijan-focused copper and gold producer - Reports a pretax profit of USD7.5 million in 2022, down 40% from USD12.6 million the year prior. Revenue in the year totals USD84.7 million, down 8.4% from USD92.5 million. Anglo Asian says the drop in revenue was due to lower production and lower gold grades of ore mined at Gedabek. Production totals 57,618 gold equivalent ounces. Gold production falls to 43,114 ounces from 48,680 ounces the year prior. Copper productions drops to 2,516 tonnes from 2,649 tonnes. Silver production, meanwhile, rises to 182,046 ounces from 154,515 ounces year-on-year. Gold bullion sales total 34,918 ounces at an average price of USD1,783 per ounces. This compared to 39,563 ounces at an average price of USD1,799 per ounce the year prior. Looking forward, total production for 2023 is expected between 50,000 to 54,000 gold equivalent ounces. Declares a final dividend of 4 US cents per share, maintaining the full-year payout at the same level as 2021.

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17 Apr 2023 16:34

TRADING UPDATES: Anglo Asian gold output down; Faron hails antibody

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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30 Mar 2023 19:20

TRADING UPDATES: Centamin targets reduction in greenhouse gases

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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27 Mar 2023 18:42

TRADING UPDATES: Sabien works with Empiric; Coro sells in Italy

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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21 Mar 2023 20:18

TRADING UPDATES: React Group optimistic; Cindrigo inks financing

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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16 Mar 2023 20:21

TRADING UPDATES: Highbridge delays liquidation; Phoenix finds silver

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Mar 2023 17:02

Anglo Asian completes initial study at Xarxar deposit

(Sharecast News) - Anglo Asian Mining, a gold, copper, and silver producer based in Azerbaijan, announced on Thursday that it has completed an initial geological block model and open pit optimisation study at the Xarxar deposit.

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