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Anglo Asian Mining present record revenues and outline opportunities ahead
Anglo Asian Mining s (LON:AAZ) Bill Morgan, CFO and Vice President Stephen Westhead present record revenues in 2020.
Revenues rising by 11% to US$102.1mln while profits before tax increased by 19% to US$35.7mln as the junior benefited from higher metal prices.
The dividend for the year is maintained at 8 US cents per share excluding a special payment of 1.5 US cents.
Quick facts: Anglo Asian Mining PLC
Price: 146 GBX
Anglo Asian Mining secures approval for 5-year extension to Gedabek contract area
It is also in talks to obtain an extension of the territory of its existing contract areas and for new contract areas in Azerbaijan
Anglo Asian Mining PLC (LON:AAZ) said the government of Azerbaijan has approved the first of two five-year extensions of the production sharing agreement for its Gedabek contract area. I am very pleased to announce that the company has obtained the first of the five-year extensions of the production sharing agreement for the Gedabek contract area, especially as we continue with our exploration programme which has already identified a number of new mineral occurrences including Zafer and Avshancli,” said chief executive Reza Vaziri.
15 April 2021 | 09:50am
StockMarketWire.com - Gold, copper and silver producer Anglo Asian Mining said it expected a fall in annual gold production, following depletion of its Ugur mine.
Gold production for FY 2021 was expected in the range of 48,000 to 54,000 ounces, down from 56,864 ounces of gold reported in 2020. This year we will only be mining from our existing Gedabek open pit and Gedabek and Gadir underground mines. Gold production is therefore expected to be lower as there will be no contribution from Ugur, which was depleted in 2020, the company said.
Copper production was forecast in the range of 2,500 to 2,800 tonnes, up from 2,591 tonnes of copper last year.