Anglo Asian Mining PLC Q3 2014 Production and -2-
October 15 2014 - 5:30AM
UK Regulatory
For further information please visit www.angloasianmining.com or
contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
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Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
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Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3463
LLP 2260
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Felicity Edwards St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
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Lottie Brocklehurst St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
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Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold producer in Central
Asia with a broad portfolio of production and exploration assets in
Azerbaijan. The Company has a 1,962 square kilometre prospective
exploration portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
('PSA') based on the Azeri oil industry. The Company developed
Azerbaijan's first operating gold/copper/silver mine, Gedabek,
which commenced gold production in May 2009. Gold production for
the year ended 31 December 2013 from Gedabek totalled 52,068
ounces. The Company is also developing a second resource area
within Azerbaijan, Gosha, which is 50 kilometres from Gedabek.
Gosha is being advanced with a view to developing a high grade
underground gold mine. Due to the proximity of Gosha to Gedabek,
gold ore produced at Gosha is processed at Anglo Asian's Gedabek
plant. Anglo Asian's Company production target for FY 2014 stands
at circa 62,000 of gold. In addition, Gedabek is a polymetalic
deposit and its ore has a high copper content, and as a result the
Company produces copper concentrate through its Sulphidisation,
Acidification, Recycling, and Thickening plant. In addition, it is
examining the potential to construct a small scale, low capital
expenditure flotation plant to produce a copper and precious metal
concentrate. This will initially process ore from its existing
stockpiles of sulphide ore having a high copper content.
Anglo Asian is also actively looking 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 company news service from the London Stock Exchange
END
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