AGM 2020 – ANGLO ASIAN MINING PLC23 Jun 2020 08:37
Our impressive financial performance in 2019 was highlighted by revenues of US$92.1 million, a two per cent. year-on-year increase. Profits after tax increased by over 18 per cent. to US$19.3 million and we ended the year with US$21.1 million in net cash, a significant increase compared to $6.1 million in the previous year. I am delighted to report an increased total dividend for 2019 of US$0.08 per ordinary share. We understand the importance of dividends for shareholders and, as one of the few mining companies on the London AIM market that pays dividends, we take great pleasure in rewarding our shareholders for their continued support.
Production levels in 2019 remained consistent and within our forecast range at 81,399 gold equivalent ounces. Despite producing slightly less during the year compared to 2018, continued efficiencies, our low cost base and an increased average gold sales price of $1,410 per ounce meant that revenues and profits again increased. We look to continue our consistency in production and our guidance for 2020 is between 75,000 and 80,000 gold equivalent ounces. Together with this year's increased metal prices, our excellent financial performance is set to continue.