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Anglo Asian Mining PLC (AIM:AAZ) | RNS | Anglo Asian Mining - 5-year Extension to Gedabek Contract Area Approved


Negotiations Continue for Additional Territory
 
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 it has obtained ratification for the first of the two permitted five-year extensions of the Production Sharing Agreement for its Gedabek Contract Area. The Company is also currently in negotiations with the Government of
Azerbaijan to obtain an extension of the territory of its existing contract areas and for new contract areas in
Azerbaijan.
Anglo Asian CEO,
Reza Vaziri, commented: 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.   ....

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Anglo Asian Mining PLC gets approval for 5-year extension to Gedabek contract area


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. ....

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Anglo Asian Mining posts production increases in first quarter


Anglo Asian Mining posts production increases in first quarter
Thu, 15th Apr 2021 11:05
(Alliance News) - Anglo Asian Mining PLC on Thursday provided full-year production guidance, as gold, silver and copper production all increased in the first quarter.
The gold, copper and silver producer operating in Azerbaijan said its gold production for the three months ended March 31 was 11,907 ounces, down 25% from 15,867 year-on year.
Anglo Asian s silver production in the quarter was 35,365 ounces, up 2% from 34,642 year-on year, while copper production was 638 tonnes, up 14% from 559 tonnes.
Shares in Anglo Asian were down 8.1% at 123.20 pence in London on Thursday.
The company said no copper concentrate shipments were made during the quarter as renegotiated contracts with off-takers were waiting the approval of the government of Azerbaijan. It has since obtained government approval for the contracts. ....

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