Anglo Asian Mining PLC Research Report published by Hardman & Co

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Anglo Asian Mining PLC

19 June 2019

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

19 June 2019

Anglo Asian Mining plc ("Anglo Asian" or the "Company")

Research Report published by Hardman & Co

Anglo Asian Mining plc, the AIM-listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that Hardman & Co has today released a comprehensive research report on the Company.

To download the full research report please visit the following link: http://www.rns-pdf.londonstockexchange.com/rns/7923C_1-2019-6-19.pdf

**ENDS**

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

 
   Reza Vaziri         Anglo Asian Mining plc       Tel: [phone] 
   Bill Morgan         Anglo Asian Mining plc       Tel: [phone] 
                   ------------------------------  ---------------------- 
 Stephen Westhead      Anglo Asian Mining plc       Tel: [phone] 
                   ------------------------------  ---------------------- 
   Ewan Leggat       SP Angel Corporate Finance     Tel: [phone] 
                                 LLP                         0470 
                     Nominated Adviser and Broker 
                   ------------------------------  ---------------------- 
  Soltan Tagiev      SP Angel Corporate Finance     Tel + 44 (0) 20 3470 
                                 LLP                         0470 
                     Nominated Adviser and Broker 
                   ------------------------------  ---------------------- 
 Isabel de Salis       St Brides Partners Ltd       Tel: [phone] 
                                                             1177 
                   ------------------------------  ---------------------- 
   Gaby Jenner         St Brides Partners Ltd       Tel: [phone] 
                                                             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 [e-mail] or visit www.rns.com.

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June 19, 2019 09:01 ET (13:01 GMT)