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Pin to quick picksAnglo Asian Share News (AAZ)

Share Price Information for Anglo Asian (AAZ)

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Share Price: 68.50
Bid: 67.00
Ask: 70.00
Change: 3.40 (5.35%)
Spread: 3.00 (4.478%)
Open: 63.50
High: 69.50
Low: 67.00
Prev. Close: 63.60
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Anglo Asian Mining returns to profit but reduces gold production target

Mon, 12th Sep 2016 08:50

(ShareCast News) - Azerbaijani gold, copper and silver explorer Anglo Asian Mining returned to profit in the first half of the year, but reduced its target gold production.For the six months ended 30 June, profit before tax increased to $3.5m after a $4.1m loss last year. Revenue decreased slightly by 6% to $39.3m due to low gold bullion sales, which was partially offset by higher sales of copper concentrate.Target gold production for the year to 31 December was lowered to between 69,000 and 71,000 ounces. Target copper production remains the same between 1,700 and 2,100 tonnes.Chairman Khosrow Zamani, said: "Unfortunately, the late commissioning of the second semi-autogenous grinding mill and the Gadir development work required in August resulted in a shortfall in gold doré production in July and August of 2,779 ounces compared to budget. These issues have now been overcome but as a result we have had to lower our target gold production for the 2016 financial year".Average cash operating costs fell by 26% to $546 per ounce of gold bullion due to low mining and processing costs and higher by-product sales.Capital expenditure was down 27% to $6.6m with spending mainly on advanced stripping, the new SAG mill and underground equipment.Net debt narrowed by 17% to $40.7m and cash rose to $3.3m at 30 June, from $200,000 in December 2015.The AIM-listed company reported strong copper and silver production figures in the six-month period. Copper production rose to 969 tonnes from 418 tonnes last year, and silver rose to 90,782 ounces from 6,478 ounces.Gold production reduced slightly to 33,837 ounces from 35,938 ounces last year.Copper concentrate sales of 2,912 dry metric tonnes (dmt) generated revenue of $5.2m, compared to 606 dmt with revenue of $1.7m.Gold bullion sales of 27,719 ounces at an average of $1,230 per ounce in comparison to 33,294 ounces at $1,204 per ounce last year.The company said 18,000 ounces of gold bullion sales were hedged at no cost with a minimum sale price per ounce of $1,200 and maximum of $1,426.Zamani added: "The increase in metal prices since the beginning of 2016 and the recent devaluations of the Azerbaijan Manat have materially assisted in our return to profitability."However, the company is always mindful of the volatile environment in which it operates and therefore remains highly focused on optimising the efficiency of its operations and reducing costs wherever possible."
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18 Aug 2022 14:14

IN BRIEF: Anglo Asian Mining buys exploration data USD4.0 million

Anglo Asian Mining PLC - London-based gold, copper and silver producer focused on Azerbaijan - Buys exploration data about Garadagh and Xarxar areas in Azerbaijan from gold mining firm AzerGold QSC. Pays USD3.3 million for Garadagh data and USD700,000 for Xarxar data.

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18 Aug 2022 13:22

Anglo Asian acquires exploration data for two new concessions

(Sharecast News) - Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining announced the acquisition of exploration data and associated studies and reports from AzerGold on Thursday.

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8 Aug 2022 15:36

IN BRIEF: Anglo Asian Mining invests in Libero Copper & Gold

Anglo Asian Mining PLC - London-based gold, copper and silver producer focused on Azerbaijan - Invests further into TSX-listed Libero Copper & Gold Corp, buying 2.9 million new shares at 33 Canadian cents each, for a total of CAD957,000, or USD748,0000. The investment is part of Libero's recent private placement for gross proceeds of CAD4.5 million to fund its exploration at the Big Red porphyry copper project in British Columbia, Canada. The investment maintains Anglo Asian's 19.9% holding in Libero, which owns or has the right to acquire several copper exploration properties in North and South America.

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8 Aug 2022 13:17

Anglo Asian Mining joins Libero Copper's private placement

(Sharecast News) - Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining has made a further investment in Libero Copper & Gold Corporation, it announced on Monday.

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14 Jul 2022 14:50

IN BRIEF: Anglo Asian shares fall on lower half-year production

Anglo Asian Mining PLC - London-based gold, copper and silver producer focused on Azerbaijan - Produces 28,772 gold equivalent ounces in the first half of 2022, falling 11% from 32,171 GEOs a year ago. Gold production during the period totals 20,906 ounces, down 14% from 24,247 ounces a year ago. Copper production falls by 3.8% to 1,283 tonnes from 1,333 tonnes.

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6 Jul 2022 16:01

IN BRIEF: Anglo Asian wins contract area expansion in Azerbaijan

Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Announces that amendments to its production sharing agreement have been ratified by the Parliament of Azerbaijan, granting the company three new contract areas with a combine areas of 882 square kilometres.

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30 Jun 2022 20:21

TRADING UPDATES: Riverstone launches buyback; Anglo Asian Mining loans

(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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23 Jun 2022 21:28

TRADING UPDATES: FirstGroup extends takeover date; Tasty repays debt

(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 Jun 2022 16:03

UK shareholder meetings calendar - next 7 days

Friday 17 June 
Blackstone Loan Financing LtdAGM
boohoo Group PLCAGM
Directa Plus PLCAGM
Tesco PLCAGM
EnQuest PLCAGM
Octopus Renewables Infrastructure Trust PLCAGM
Monday 20 June 
Armadale Capital PLCAGM
Bank of Georgia Group PLCAGM
Globalworth Real Estate Investments LtdAGM
MetalNRG PLCAGM
Midatech Pharma PLCAGM
Silver Bullet Data Services Group PLCGM re fundraise
Venture Life Group PLCAGM
Tuesday 21 June 
1Spatial PLCAGM
Altus Strategies PLCAGM
Coca-Cola HBC AGAGM
FireAngel Safety Technology Group PLCAGM
HC Slingsby PLCAGM
HSS Hire Group PLCAGM
Mission Group PLCAGM
Novacyt SAAGM
Pendragon PLCAGM
RTW Venture Fund LtdAGM
Velocys PLCAGM
Wednesday 22 June 
ASA International Group PLCAGM
Atalaya Mining PLCAGM
Bonhill Group PLCAGM
Chapel Down Group PLCAGM
Churchill China PLCAGM
Downing Renewables & Infrastructure Trust PLCGM re share issue
Ecofin US Renewables Infrastructure Trust PLCAGM
EJF Investments LtdAGM
Frenkel Topping Group PLCAGM
Good Energy Group PLCAGM
Honeycomb Investment Trust PLCAGM
ICG-Longbow Senior Secured UK Property Debt Investments LtdAGM
Intelligent Ultrasound Group PLCAGM
Iofina PLCAGM
John Wood Group PLCAGM
Kingfisher PLCAGM
LXi REIT PLCGM
Menhaden PLCAGM
North Atlantic Smaller Cos Investment Trust PLCAGM
Pennant International Group PLCAGM
Plant Health Care PLCAGM
Skillcast Group PLCAGM
Team PLCAGM
Tribal Group PLCGM re final dividend
Trident Royalties PLCAGM
Vertu Motors PLCAGM
Wentworth Resources PLCAGM
Thursday 23 June 
Avacta Group PLCAGM
Anglo Asian Mining PLCAGM
Card Factory PLCAGM
Cordiant Digital Infrastructure LtdAGM
Downing Renewables & Infrastructure Trust PLCGM re initial placing & open offer
Eight Capital Partners PLCGM re aligning 2022 bonds with 2026 bonds
GENinCode PLCAGM
Ideagen PLCGM re takeover by Hg Pooled Management Ltd
Longboat Energy PLCAGM
Oxford Nanopore Technologies PLCAGM
Puma VCT 13 PLCGM re cancellation of listing & liquidation
RBG Holdings PLCAGM
Tandem Group PLCAGM
Zinnwald Lithium PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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17 May 2022 14:09

Anglo Asian Mining posts plunge in profit; expects demand for copper

(Alliance News) - Anglo Asian Mining PLC on Tuesday reported a fall in profit and drop in gold production in 2021, more than offsetting a rise in silver and copper output.

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14 Apr 2022 21:36

TRADING UPDATES: Polar Capital assets up; Brooks Macdonald funds fall

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

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14 Apr 2022 14:47

Anglo Asian upbeat on first quarter production at Gedabek

(Sharecast News) - Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining reported first quarter gold production of 10,040 ounces at its Gedabek contract area in an update on Thursday, down from 11,907 ounces a year ago.

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21 Mar 2022 12:12

TRADING UPDATES: Asimilar to list on AQSE; Spectral MD swings to loss

(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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14 Mar 2022 19:43

TRADING UPDATES: IOG's first gas at Saturn Banks; Oriole spots gold

(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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8 Mar 2022 12:33

TRADING UPDATES: Tasty sales rise; Synectics wins National Grid deal

(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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