Anglo Asian Mining PLC (ISE:AAZ)

Anglo Asian Mining PLC (ISE:AAZ)


Share Price
127.50 p
Change
1 (0.79 %)
Market Cap
£145.85 m
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Anglo Asian Mining PLC RNS Release

Notice of AGM


RNS Number : 3311A
Anglo Asian Mining PLC
28 May 2019
 

28 May 2019

Anglo Asian Mining plc

Posting of the Annual Report for 2018 and Notice of Annual General Meeting

 

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that its Annual Report and Accounts ('Annual Report') for the year ended 31 December 2018 has been posted today to shareholders along with the Notice of Annual General Meeting ("AGM") and Form of Proxy. 

 

The Company's AGM will be held at 10:30am on 20 June 2019 at The Washington Mayfair Hotel, 5 Curzon Street, Mayfair, London W1J 5HE. Votes may be submitted prior to the AGM by mail using the Form of Proxy or in the case of CREST members, by utilising the CREST electronic proxy appointment service.

The Annual Report and Notice of AGM are now available for download on the Company's website at www.angloasianmining.com.

 

 

**ENDS**

 

For further information please visit www.angloasianmining.com or contact:

Reza Vaziri

Anglo Asian Mining plc

Tel: +994 12 596 3350

Bill Morgan

Anglo Asian Mining plc

Tel: +994 502 910 400

Stephen Westhead

Anglo Asian Mining plc

Tel: +994 502 916 894

Ewan Leggat

SP Angel Corporate Finance LLP

Nominated Adviser and Broker

Tel: +44 (0) 20 3470 0470

Soltan Tagiev

SP Angel Corporate Finance LLP

Nominated Adviser and Broker

Tel + 44 (0) 20 3470 0470

Isabel de Salis /

Gaby Jenner

St Brides Partners Ltd

Financial PR

Tel: +44 (0) 20 7236 1177

 

Notes:

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 square kilometre portfolio, assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement modelled on the Azeri oil industry.

 

The Company's main operating location is the Gedabek contract area ("Gedabek") which is a 300 square kilometre area in the Lesser Caucasus mountains in western Azerbaijan. The Company developed Azerbaijan's first modern operating gold/copper/silver mine at Gedabek which commenced gold production in May 2009. Mining at Gedabek was initially from its main open pit, which is an open cast mine with a series of interconnected pits.

 

The Company also operates the high grade Gadir underground mine, which is co-located at the Gedabek site. In September 2017, production commenced at the Ugur open pit mine, a recently-discovered gold ore deposit at Gedabek. The Company has a second underground mine, Gosha, which is 50 kilometres from Gedabek. Ore mined at Gosha is processed at Anglo Asian's Gedabek plant.

 

The Company produced 83,736 gold equivalent ounces ('GEOs') for the year ended 31 December 2018. Gedabek is a polymetallic ore deposit that has gold together with significant concentrations of copper in the main open pit mine, and an oxide gold-rich zone at Ugur. The Company therefore employs a series of flexible processing routes to optimise metal recoveries and efficiencies. The Company produces gold doré through agitation and heap leaching operations, copper concentrate from its Sulphidisation, Acidification, Recycling, and Thickening (SART) plant and also a copper and precious metal concentrate from its flotation plant. A second dedicated crusher line has been commissioned and is now in operation for  the flotation plant to enable it to operate independently of the agitation leaching plant.

 

The Company has forecast metal production for FY 2019 of between 82,000 to 86,000 gold equivalent ounces ("GEOs"). Of the forecast production for FY 2019, between 28,000 to 30,000 GEOs is in the form of copper and gold flotation concentrate.

 

Anglo Asian is also actively seeking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in order to fulfil its expansion ambitions and become a mid-tier gold and copper metal production company.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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