Proactiveinvestors Australia Anglo Asian Mining PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia Anglo Asian Mining PLC RSS feed en Wed, 19 Dec 2018 08:26:41 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - PDMR Dealing ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181127090003_13881665/ Tue, 27 Nov 2018 20:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181127090003_13881665/ <![CDATA[RNS press release - Airborne Geophysical Survey Across Gedabek ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181121070002_13874254/ Wed, 21 Nov 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181121070002_13874254/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181101140030_13851838/ Fri, 02 Nov 2018 01:00:30 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181101140030_13851838/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181031183002_13850266/ Thu, 01 Nov 2018 05:30:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181031183002_13850266/ <![CDATA[RNS press release - Payment of interim dividend - sterling amount ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181023070007_13838217/ Tue, 23 Oct 2018 17:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181023070007_13838217/ <![CDATA[RNS press release - Q3 2018 Production and Operations Review ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181011070004_13824245/ Thu, 11 Oct 2018 17:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181011070004_13824245/ <![CDATA[RNS press release - Exercise of Share Options and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181008070003_13819169/ Mon, 08 Oct 2018 17:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20181008070003_13819169/ <![CDATA[RNS press release - Interim Results and Maiden Dividend ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180919070001_13795731/ Wed, 19 Sep 2018 16:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180919070001_13795731/ <![CDATA[RNS press release - Gedabek Open Pit - JORC Resources and Reserves ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180918070004_13793949/ Tue, 18 Sep 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180918070004_13793949/ <![CDATA[RNS press release - H1 Geological Exploration Activities and Results ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180917070006_13792264/ Mon, 17 Sep 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180917070006_13792264/ <![CDATA[RNS press release - Airborne Geophysical Survey at Gedabek ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180913070002_13788853/ Thu, 13 Sep 2018 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180913070002_13788853/ <![CDATA[RNS press release - Corporate Presentation and Net Cash ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180905093002_13779553/ Wed, 05 Sep 2018 18:30:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180905093002_13779553/ <![CDATA[RNS press release - Technical Presentation and Paper ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180903113002_13776629/ Mon, 03 Sep 2018 20:30:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180903113002_13776629/ <![CDATA[RNS press release - Approval of Capital Reduction by the Court ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180829083004_13771101/ Wed, 29 Aug 2018 17:30:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180829083004_13771101/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180731070005_13736809/ Tue, 31 Jul 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180731070005_13736809/ <![CDATA[RNS press release - Result of General Meeting ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180730113001_13736060/ Mon, 30 Jul 2018 20:30:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180730113001_13736060/ <![CDATA[RNS press release - Exercise of Share Options and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180719170902_13724796/ Fri, 20 Jul 2018 02:09:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180719170902_13724796/ <![CDATA[Media files - Anglo Asian Mining 'in extremely good shape' after first half production boost ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9899/anglo-asian-mining-in-extremely-good-shape-after-first-half-production-boost-9899.html Thu, 19 Jul 2018 08:35:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9899/anglo-asian-mining-in-extremely-good-shape-after-first-half-production-boost-9899.html <![CDATA[RNS press release - Q2 & H1 2018 Production and Operations Review ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180717070007_13719880/ Tue, 17 Jul 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180717070007_13719880/ <![CDATA[News - Anglo Asian Mining shares jump as it delivers 22% boost to production from Gedabek ]]> https://www.proactiveinvestors.com.au/companies/news/200922/anglo-asian-mining-shares-jump-as-it-delivers-22-boost-to-production-from-gedabek-200922.html Anglo Asian Mining Plc (LON:AAZ) saw its shares jump higher on Tuesday as the AIM-listed miner delivered a 22% year-on-year increase in total production of gold equivalent ounces for the first half of 2018.

Total production from the Gedabek gold, copper and silver mining contract area in western Azerbaijan rang in at 37,349 gold equivalent ounces, a performance the company characterised as “excellent”.

READ: Dividend plan underlines confidence at Anglo Asian Mining

Anglo Asian had net debt of US$2.9mln at 30 June 2018, a reduction of US$7.5mln since 31 March 2018.            

Anglo Asian also said a second crusher line is now in operation at Gedabek with the agitation leaching and flotation plants now processing independently.

"Our operations are moving up a gear with the new Ugur mine and second crusher line adding significantly to our production capacity and, I believe, we are well placed to meet our financial year 2018 production target of between 78,000 to 84,000 gold equivalent ounces,” said chief executive Reza Vaziri.

“We are accordingly creating a sound financial position from which to announce and pay a maiden dividend, in line with our previous announcements, following completion of the share capital reduction proposed in the recent circular to shareholders.”

In early morning trading, Anglo Asian Mining shares were 13% higher at 51p.

-- Adds share price --

 

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Tue, 17 Jul 2018 08:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200922/anglo-asian-mining-shares-jump-as-it-delivers-22-boost-to-production-from-gedabek-200922.html
<![CDATA[RNS press release - Posting of Circular and Notice of General Meeting ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180713100004_13717100/ Fri, 13 Jul 2018 19:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180713100004_13717100/ <![CDATA[RNS press release - PDMR Exercise of Share Options and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180705110003_13707123/ Thu, 05 Jul 2018 20:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180705110003_13707123/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180629161501_13700133/ Sat, 30 Jun 2018 01:15:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180629161501_13700133/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180629070003_13698399/ Fri, 29 Jun 2018 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180629070003_13698399/ <![CDATA[News - Anglo Asian Mining says “2017 was a year of delivery” ]]> https://www.proactiveinvestors.com.au/companies/news/199860/anglo-asian-mining-says-2017-was-a-year-of-delivery-199860.html Anglo Asian Mining Plc (LON: AAZ) has said that 2017 was a year of delivery for the company as it has implemented a wide-ranging optimisation and expansion strategy to provide long-term sustainable production growth at Gedabek contract area.

In a statement to be delivered at today's annual general meeting, Reza Vaziri, CEO of the company, said that these initiatives ‘have proved overwhelmingly successful’ and the group began 2018 with production growing and a much more robust platform to sustain this into the future. 

READ: Anglo Asian Mining forecasts sizeable production uplift in 2018

He said: “In light of the group's prospects and current strong financial position, the board is now considering a dividend policy and the payment of a maiden dividend.”

Vaziri added that in 20017 the company achieved “a healthy total production output of 71,461 gold equivalent ounces”.  

The company has estimated the total production for the financial year 2018 at between 78,000 to 84,000 gold equivalent ounces.

“The company also achieved a 26 per cent increase in year-on-year gold equivalent ounces production in the first quarter of 2018, further highlighting the strong growth we are experiencing following the implementation of our expansion and optimisation programme,” Vaziri said.

In early morning trading, Anglo Asian Mining shares jumped 3.6% to 43.00p 

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Fri, 29 Jun 2018 08:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199860/anglo-asian-mining-says-2017-was-a-year-of-delivery-199860.html
<![CDATA[News - Anglo Asian declares maiden dividend which could “nearly double next year” says broker ]]> https://www.proactiveinvestors.com.au/companies/news/199343/anglo-asian-declares-maiden-dividend-which-could-nearly-double-next-year-says-broker-199343.html Anglo Asian Mining Plc’s (LON:AAZ) half-year results saw the declaration of its maiden dividend following a swing to profit, but broker SP Angel thinks it will go further, saying the firm’s dividend could “nearly double next year”.

Based on previously released commodity price and production assumptions, the broker added that Anglo Asian could be “one of the top-yielding precious metals producers on the London market”.

READ: Anglo Asian Mining to hit upper end of guidance after strong production quarter

The fact that shares in the AIM-listed group have risen over 85% since January, boosted by a jump following the latest results, suggests investors may share SP Angel’s optimism.

If the broker, which has a price target of 84p on the stock, continues to reflect market sentiment there could be much more coming for Anglo’s shareholders.

There are several reasons for this price strength, but the central one is that Anglo Asian has been expanding operations and upgrading resources at its three mines in Azerbaijan.

Three gold and gold-copper mines supported by exploration

Its main mine is the Gedabek gold-copper open pit. Nearby are the high grade underground Gadir gold-copper mine and the Gosha underground gold mine.

In September the firm boosted the total gold and copper resource amount at the Gedabek open pit to 985,697 ounces of gold, 63,375 tonnes of copper and 8.2mln ounces of silver.

The measured and indicated portion rings in at 796,269 ounces of gold, 53,676 tonnes of copper and 6.8mln ounces of silver, while the proved plus probable reserves contain 343,160 ounces of gold, 36,011 tonnes of copper and 3.4mln ounces of silver.

But it’s not just the mines themselves. The Gedabek contract area also has significant exploration potential along a mineralised belt within its 300 square kilometre area.

Underground link-up between Gadir and Gedabek underway

Construction of a tunnel between Gadir and the Gedabek underground mineralisation is also underway with some 600 metres of tunnelling completed in July.

This work also intersected Gedabek-style mineralisation at the end of the tunnel drive.

It is further planned to extend this tunnel along the Gedabek mineralisation beneath the back wall of the open pit and to fan drill to assess the mining potential for an underground mine.

Strong first half

In addition to the maiden dividend, the miner also delivered a 22% year-on-year increase in total production of gold equivalent ounces, swinging to a pre-tax profit of US$8.1mln from a US$1.3mln loss the year before as revenues climbed to US$40mln from US$29.8mln.

The hefty rise in revenues was attributed to higher production and an increase in the average selling price of metals, with gold bullion sales reaching 25,778 ounces at US$1,319 each from 15,689 ounces at US$1,238 each in the year-ago period, offsetting a reduction in sales of copper concentrate which were down to 2,344 dry metric tonnes (dmt) at US5.9mln from 5,396 dmt at US$10.3mln in the first half of 2017.

The all sustaining cost of production per ounce of gold also fell 4% to US$543 compared to the same period a year ago. At the current gold price of US$1,206 per ounce, this translates to a profit of US$663 for every ounce mined.

That margin has helped boost the company’s cash balance to US$12.5mln from US$2.5mln last year and slashing its net debt from US$18.1mln to US$2.9mln.

However, the company has moved into a net cash position since the end of the reporting period, allowing it to declare the maiden dividend payment of US$0.03 per share.

Anglo also says under its new dividend policy it will aim to distribute around 25% of its free cash flow to shareholders each year.

For the whole of 2018, the company is targeting between 78,000 to 84,000 gold equivalent ounces (GEOs), a 13% increase from 2017.

In October, it added it would hit the upper end of the estimate after a strong third quarter.

At 61.5p, Anglo Asian has a market cap of around £67.4mln.

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Thu, 21 Jun 2018 15:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199343/anglo-asian-declares-maiden-dividend-which-could-nearly-double-next-year-says-broker-199343.html
<![CDATA[RNS press release - Notice of General Meeting ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180607093005_13670768/ Thu, 07 Jun 2018 18:30:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180607093005_13670768/ <![CDATA[Media files - Anglo Asian Mining posts profit for 2017 and cuts net debt ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9380/anglo-asian-mining-posts-profit-for-2017-and-cuts-net-debt-9380.html Fri, 25 May 2018 14:06:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9380/anglo-asian-mining-posts-profit-for-2017-and-cuts-net-debt-9380.html <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180524070006_13653128/ Thu, 24 May 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180524070006_13653128/ <![CDATA[News - Anglo Asian Mining forecasts sizeable production uplift in 2018 ]]> https://www.proactiveinvestors.com.au/companies/news/197614/anglo-asian-mining-forecasts-sizeable-production-uplift-in-2018-197614.html Gold miner Anglo Asian Mining Plc’s (LON:AAZ) has forecast a sizeable uplift in production in the current year after revenues and profits fell in 2017.

Revenues for the year dropped to US$71.8mln from US$79.2mln as the proportion of concentrate sold increased.

WATCH: Anglo Asian Mining posts profit for 2017 and cuts net debt

Profits eased to US$5.7mln (US$6.8mln) but strong cashflow almost halved debts to US$18.1mln and the miner is bullish over the current twelve months.

Production from the new Ugur open pit is fully onstream while gold and copper prices remain high.

The Azerbaijan-based gold miner produced 71,500 gold equivalent ounces in the past year and but expects this to rise to between 78,000 and 84,000oz in 2018.

Based on the higher production and lower debts, the company is also considering paying its first dividend with a schedule to be announced next quarter.

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Thu, 24 May 2018 07:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197614/anglo-asian-mining-forecasts-sizeable-production-uplift-in-2018-197614.html
<![CDATA[RNS press release - New Corporate Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180503111638_13628930/ Thu, 03 May 2018 20:16:38 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180503111638_13628930/ <![CDATA[RNS press release - Q1 2018 Production and Operations Review ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180416072502_13604794/ Mon, 16 Apr 2018 16:25:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180416072502_13604794/ <![CDATA[News - Anglo Asian’s gold equivalent production increases by 26% to 18,307 ounces in the first quarter ]]> https://www.proactiveinvestors.com.au/companies/news/195018/anglo-asians-gold-equivalent-production-increases-by-26-to-18307-ounces-in-the-first-quarter-195018.html Anglo Asian Mining Plc (LON:AAZ) posted a 26% increase in the year-on-year production of gold equivalent ounces from its Gedabek project in Azerbaijan.

In the three months to March 31, Anglo Asian produced 18,307 gold equivalent ounces, up from the 14,577 equivalent ounces produced in the corresponding period of 2017.

READ: Anglo Asian Mining briefs investors on 2017 field campaign

Net debt was reduced by 43% during the first quarter to US$10.4mln, down from US$18.3mln at the end of the previous quarter.

Gross cash stood at US$8.6 million at the end of the March quarter.  

"This has again been another excellent quarter for the company given that production in the first quarter of the year is always our lowest due to the winter weather conditions,” said chief executive Reza Vaziri. 

“This strong increase in performance can be attributed to the optimisation and expansion initiatives which we implemented during the course of 2017, and, perhaps most importantly, the commencement of production from our new Ugur open pit. The increased production that Anglo Asian is now achieving, coupled with improved metal prices, is flowing through strongly to our cash generation. The discovery of new potential mines, such as Ugur, together with the conversion of already known but under-explored prospects across our contract lease areas, is crucial to the continued growth and enhancement of our total production profile."

In early trading, Anglo Asian mining shares were nearly 8.8% higher at 43.5p.

 -- Adds share price --

 

 

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Mon, 16 Apr 2018 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195018/anglo-asians-gold-equivalent-production-increases-by-26-to-18307-ounces-in-the-first-quarter-195018.html
<![CDATA[RNS press release - Repayment of Director Loan ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180403120002_13589547/ Tue, 03 Apr 2018 21:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180403120002_13589547/ <![CDATA[RNS press release - 2017 Exploration Activities & Results ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180326090002_13580779/ Mon, 26 Mar 2018 19:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180326090002_13580779/ <![CDATA[News - Anglo Asian Mining briefs investors on 2017 field campaign ]]> https://www.proactiveinvestors.com.au/companies/news/193783/anglo-asian-mining-briefs-investors-on-2017-field-campaign-193783.html Anglo Asian Mining Plc (LON:AAZ) has released a report outlining the objectives and achievements of its 2017 exploration programme.

A copy of the report can be found here: http://www.angloasianmining.com/operations/

READ: Anglo Asian Mining embarks on major, three-year rolling exploration programme in Azerbaijan

The company states that it drilled 106 surface core drill holes at Gedabek, amounting to 13,681 metres, with a further 115 reverse circulation drill holes completed for a total of 7,870 metres.

The company also completed 63 underground core drill-holes totalling 5,042 metres.

The exploration results obtained provided a solid foundation for the recently announced 2018 geological programme, including revealing the presence of further mineable copper and gold ores at Gedabek

In addition, the presence of mineralisation beneath the Gedabek open pit was established, and a new prospect at Soyudlu was discovered.

 

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Mon, 26 Mar 2018 10:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193783/anglo-asian-mining-briefs-investors-on-2017-field-campaign-193783.html
<![CDATA[Media files - Anglo Asian Mining outlines three year exploration programme ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8894/anglo-asian-mining-outlines-three-year-exploration-programme-8894.html Fri, 16 Mar 2018 12:05:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8894/anglo-asian-mining-outlines-three-year-exploration-programme-8894.html <![CDATA[RNS press release - Launch of 2018 Exploration Programme ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180313070002_13564092/ Tue, 13 Mar 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180313070002_13564092/ <![CDATA[News - Anglo Asian Mining embarks on major, three-year rolling exploration programme in Azerbaijan ]]> https://www.proactiveinvestors.com.au/companies/news/193052/anglo-asian-mining-embarks-on-major-three-year-rolling-exploration-programme-in-azerbaijan-193052.html Anglo Asian Mining Plc (LON:AAZ) is launching a three-year rolling programme of geological exploration of near mine, brownfield and greenfield areas on its ground in Azerbaijan.

The objectives of the programme are to replace mined ounces, extend the current mine life at the Gedabek project to a 10-year minimum, increase the company's inventory of resources, and to discover new mineral deposits.

READ: Anglo Asian refinances debt with new US$15mln facility

The target discoveries would ideally be similar to Anglo Asian’s Ugur open pit mine and have the potential to be quickly developed into operating mines.

The programme will build on the results of the 2017 geological work and comprehensively cover the Company's three operating contract areas, Gedabek, Gosha contract area ("Gosha") which is located 50 kilometres from Gedabek, and Ordubad, which is located in Nakhichevan, South West Azerbaijan.

A total of around 43,500 metres of surface and underground drilling is planned, to be undertaken by one reverse circulation and two core drill rigs.

Airborne geophysics is also planned for the entire Gedabek contract area.

The overall cost for all this work in 2018 is expected to be approximately US$6mln, to be funded from internal cash flow.

"I am very pleased to announce this programme of geological exploration of our three operating contract areas,” said Anglo Asian chief executive Reza Vaziri.

“This will build upon the success of the previous few years during which time we discovered the Ugur and Gadir deposits.”

 

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Tue, 13 Mar 2018 08:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193052/anglo-asian-mining-embarks-on-major-three-year-rolling-exploration-programme-in-azerbaijan-193052.html
<![CDATA[Media files - Anglo Asian Mining to accelerate 2018 expansion plans after debt refinancing ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8757/anglo-asian-mining-to-accelerate-2018-expansion-plans-after-debt-refinancing-8757.html Fri, 16 Feb 2018 13:02:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8757/anglo-asian-mining-to-accelerate-2018-expansion-plans-after-debt-refinancing-8757.html <![CDATA[RNS press release - $15 million Syndicated 2-year 7% Loan Facility ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180212070047_13528887/ Mon, 12 Feb 2018 18:00:47 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180212070047_13528887/ <![CDATA[News - Anglo Asian refinances debt with new US$15mln facility ]]> https://www.proactiveinvestors.com.au/companies/news/191489/anglo-asian-refinances-debt-with-new-us15mln-facility-191489.html Anglo Asian Mining Plc (LON:AAZ) has refinanced the majority of its existing debts with a new US$15mln facility at 7% that will run over a two-year term.

Anglo Asian’s debts are well supported by cash flow, although the loan itself is unsecured.

WATCH: Anglo Asian Mining to accelerate 2018 expansion plans after debt refinancing

The announcement comes not long after the company projected that it would produce between 78,000 and 84,000 gold equivalent ounces from its mines in Azerbaijan this year.

The refinancing will releasing US$8.4mln of capital to accelerate 2018 expansion and optimisation plans, as the principal require for repayment this year will drop to just US$5.1mln from the previous US$13.5mln.

WATCH: Anglo Asian Mining 'beginning to get the wind in its sails'

What’s more, the aggregate interest rate also drops and the company will save US$100,000 on interest payments.

A total of $13.5mln of the Facility will be utilised to repay existing loans to Amsterdam Trade Bank, Gazprombank, Anglo Asian chief executive Reza Vaziri and Yapi Credit Bank.

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Mon, 12 Feb 2018 07:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191489/anglo-asian-refinances-debt-with-new-us15mln-facility-191489.html
<![CDATA[RNS press release - Updated Corporate Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180206123008_13523395/ Tue, 06 Feb 2018 23:30:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180206123008_13523395/ <![CDATA[RNS press release - FY2018 Production Guidance of 78,000 - 84,000 GEOs ]]> https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180206070002_13522373/ Tue, 06 Feb 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/62/LSE20180206070002_13522373/ <![CDATA[News - Anglo Asian sets guidance of between 78,000 and 84,000 ounces of gold equivalent ]]> https://www.proactiveinvestors.com.au/companies/news/191202/anglo-asian-sets-guidance-of-between-78000-and-84000-ounces-of-gold-equivalent-191202.html Anglo Asian Mining Plc (LON:AAZ) has set production guidance for the full year ending December 2018 at between 78,000 and 84,000 gold equivalent ounces.

The production will come from the company’s mines in Azerbaijan, which are currently in an expansion phase. The guidance represents an increase over the mid-point of more than 13% on the 2017 number.

WATCH: Anglo Asian Mining 'beginning to get the wind in its sails'

The company expects to produce between 64,000 and 70,000 ounces of gold, and between 2,100 to 2,300 tonnes of copper.

The increase in total anticipated production during 2018 will results from optimisation initiatives undertaken at the Gedabek mine last year, with continuation of production from the new Ugur open pit and Gadir underground mines and recommencement of mining in the Gedabek main open pit.

Furthermore, the start-up of a second crusher line for the flotation plant in the second quarter of 2018 will enable copper production to increase.

READ: Anglo Asian hits top end of gold equivalent production guidance for 2017

"2018 is shaping up to be a year of delivery for Anglo Asian with production of between 78,000 to 84,000 gold equivalent ounces planned by our operational team,” said Anglo Asian chief executive Reza Vaziri.

“As in previous years, the second half of 2018 is expected to be better than the first due to seasonal factors and the added momentum of the flotation plant processing on a stand-alone basis from Q2 2018. Key to the future growth of the Company will be expansion opportunities and with this objective we are commencing a substantial geological exploration programme at Gedabek. I look forward to reporting details of this programme in the coming weeks."

 

 

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Tue, 06 Feb 2018 08:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191202/anglo-asian-sets-guidance-of-between-78000-and-84000-ounces-of-gold-equivalent-191202.html
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All told, this was still slightly lower than the 72,304 ounces produced in 2016 but, allowing for the planned suspension of mining from the main open pit for part of the year, still looks highly satisfactory.

READ: Anglo Asian Mining continues expansion of operations in Azerbaijan

"Anglo Asian is continuing to lay the foundations for long term sustainable production growth and to deliver value to its shareholders,” said chief executive Reza Vaziri.

“Mining is expected to recommence at our main open pit at Gedabek in the near-term together with the installation of a second, dedicated crusher line for the flotation plant. These should significantly enhance our production profile throughout 2018. I look forward to providing further updates on forecast 2018 production and expansion and exploration objectives in the coming weeks."

 

 

 

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Tue, 16 Jan 2018 07:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190068/anglo-asian-hits-top-end-of-gold-equivalent-production-guidance-for-2017-190068.html