Anglo Asian Mining PLC Payment of 2019 final dividend -- sterling amount (9590S)
July 14 2020 - 6:19AM
UK Regulatory
TIDMAAZ
RNS Number : 9590S
Anglo Asian Mining PLC
14 July 2020
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
14 July 2020
Anglo Asian Mining plc
Payment of 2019 final dividend - sterling amount
On 13 May 2020, the directors of Anglo Asian Mining plc
announced a final dividend in respect of the year ending 31
December 2019 of US$0.045 per ordinary share. This final dividend
is to be paid on 30 July 2020 to shareholders on the share register
on 3 July 2020. The dividend is payable in cash in sterling to
holders of ordinary shares. A scrip dividend or any other dividend
reinvestment plan will not be offered by Anglo Asian Mining
plc.
The dividend will be converted to pounds sterling using the
average of the sterling closing mid-price using the exchange rate
published by the Bank of England at 4pm each day from the 6 to 10
July 2020, being GBP1 = US$1.2591. Accordingly, the amount of
sterling dividend payable in cash on 30 July 2020 will be:
3.5739 pence per ordinary share.
**ENDS**
For further information please contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
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Stephen Westhead Anglo Asian Mining plc Tel: +994 502 916 894
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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
Nominated Adviser and Broker
------------------------------ ----------------------
Camilla Horsfall Blytheweigh Financial Tel: + 44(0) 20 7138
3224
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Megan Ray Blytheweigh Financial Tel: + 44(0) 20 7138
3224
------------------------------ ----------------------
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 newly 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 81,399 gold equivalent ounces ("GEOs") for
the year ended 31 December 2019. 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.
The Company has a production target for the year to 31 December
2020 of 65,000 ounces to 67,000 ounces of gold and 2,200 tonnes to
2,400 tonnes of copper. This total production target expressed as
gold equivalent ounces ("GEOs") at budgeted prices is between
75,000 GEOs and 80,000 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
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