SP Angel expects a strong production rebound in 2025 from Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) after last year’s operational disruptions. The boutique mining house expects record revenues as gold and copper output surges.
The company forecasts 2025 production of 28-33koz of gold (up from 15.1koz in 2024) and 6.5-6.8kt of copper (from just 0.4kt). Revenues are expected at $110-125m, with EBITDA between $45-55m.
Key to the recovery is the Gilar underground mine, set to contribute around 60% of gold and copper production.
Demirli’s restart is expected before year-end, though its output is not yet included in 2025 guidance. SP Angel sees Demirli as a major driver of future growth, estimating first full-year production in 2027.
It tweaked its price target 12p lower to 296p, but remains a 'buyer'. The stock is currently changing hands for 117.2p.