Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
ANGLO ASIAN MINING PLC NEX:AAZ.GB NEX Ordinary Share GB00B0C18177
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00p -2.51% 116.50p 114.00p 121.00p 119.45p 116.00p 117.50p 55,225 11:59:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - -

Anglo Asian Mining PLC Airborne Geophysical Survey Update

29/03/2019 2:18pm

UK Regulatory (RNS & others)


ANGLO ASIAN MINING (NEX:AAZ.GB)
Historical Stock Chart

3 Months : From Mar 2019 to Jun 2019

Click Here for more ANGLO ASIAN MINING Charts.

TIDMAAZ

RNS Number : 5326U

Anglo Asian Mining PLC

29 March 2019

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

29 March 2019

Anglo Asian Mining plc

Airborne Geophysical Survey Update

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, notes that following the announcement dated 7 February 2019, the Company has now received the first draft of the Gedabek airborne geophysical survey interpretation (the "Survey").

Following discussions this week with the contractor, the Company now expects the final results of the Survey to be available in April 2019.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**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      Tel: +44 (0) 20 3470 
                     LLP                             0470 
                     Nominated Adviser and Broker 
                   ------------------------------  ---------------------- 
 Soltan Tagiev      SP Angel Corporate Finance      Tel + 44 (0) 20 3470 
                     LLP                             0470 
                   ------------------------------  ---------------------- 
 Susie Geliher      St Brides Partners Ltd          Tel: +44 (0) 20 7236 
                                                     1177 
                   ------------------------------  ---------------------- 
 Gaby Jenner        St Brides Partners Ltd          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 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 production for FY 2019 of between 82,000 to 86,000 GEOs.

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 rns@lseg.com or visit www.rns.com.

END

UPDCKCDDQBKDQNB

(END) Dow Jones Newswires

March 29, 2019 10:18 ET (14:18 GMT)

1 Year ANGLO ASIAN MINING Chart

1 Year ANGLO ASIAN MINING Chart

1 Month ANGLO ASIAN MINING Chart

1 Month ANGLO ASIAN MINING Chart
Your Recent History
NEX
AAZ.GB
ANGLO ASIA..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190627 12:20:57