RNS Number: 0602 S Anglo Asian Mining PLC 04 November 2019 Anglo Asian Mining plc/ Ticker: AAZ/ Index: AIM/ Sector: Mining. Q3 2019 Geological Exploration Activities. Anglo Asian Mining PLC, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide a summary of its geological exploration activities from 1 July to 30 September 2019 at...
RNS Number: 0603 S Anglo Asian Mining PLC 04 November 2019. Anglo Asian Mining plc/ Ticker: AAZ/ Index: AIM/ Sector: Mining. Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce discovery of a new gold-copper mineral occurrence, "Avshancli" and a new gold mineral occurrence "Gilar" in its northeast region of...
Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide a production, sales and operations review for its Gedabek gold, copper and silver mining and production contract area in western Azerbaijan for the three and nine months to 30 September 2019.. ·Strong cash generation with $8.5 million generated in...
On 18 September 2019, the directors of Anglo Asian Mining plc announced an interim dividend in respect of the year ending 31 December 2019 of US $0.035 per ordinary share. This interim dividend is to be paid gross on 31 October 2019 to shareholders on the share register on 4 October 2019. The dividend will be converted to pounds sterling using the average of the...
Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that representatives of the British Embassy in Azerbaijan recently visited the Company's Gedabek gold, copper and silver mine. Anglo Asian Mining is the largest mining investor in Azerbaijan, the second largest British investor in Azerbaijan...
Anglo Asian Mining* (AAZ LN) 153p, Mkt Cap £175m – H1/19 results – EBITDA up 14%, 3.5c interim dividend announced and investment in exploration ramped up • Revenues climbed to $43.3m (H1/18:$40.0m) helped by stronger sales volumes. • Gold dore sales (post PSA) increased to 26.6koz (H1/18: 25.8koz) with no change in the realised gold price of $1,319/oz. • Copper concentrate sales (post PSA) advanced to 4.3kt generating $8.1m in sales proceeds (H1/18: 2.3kt and $5.9m). • Operating cash costs amounted to $22.3m (H1/18: $19.6m) on the back of higher costs for consumables and spare parts, haulage and excavation; although, those were partially offset by lower drilling costs. • AISC came in at $603/oz (H1/18: $543/oz) reflecting higher mining volumes with some of the ore stockpiled and to be processed. • EBITDA climbed to $23.6m (H1/18: $18.5m) with margins improving to 54.4% (H1/18: 46.3%). • PAT and EPS increased to $6.6m and 5.8c, respectively, (H1/18: $5.1m and 4.5c). • FCF (post interest) totalled $9.1m (H1/18: $15.2m) • Net cash position has further strengthened during the period closing at $15.2m (H2/18: $6.1m) including $20.5m of cash in the bank as of end June. • In the view of continuing positive FCF generation and strong balance sheet, the Company declared a 3.5c dividend per share equivalent to $3.3m or 34% of the unlevered FCF of $9.6m implying stronger payout to the declared dividend policy of 25% of FCF. • This is equivalent to 3.7% annualised dividend yield on the latest share price of 153p. • Capital costs amounted to $5.0m (H1/18: $8.3m) including mine development costs ($1.5m), deferred waste stripping ($0.9m) as well as exploration spend of $2.0m (H1/18: $0.1m). • Exploration work is continuing in full swing with the team exploring potential to extend the life of mine of existing mines, identifying new mineralised bodies in vicinity to the Gebabek processing complex as well as carrying surface exploration works including drilling at Ordubad. • Exploration and evaluation costs were spread between Gedabek ($0.7m), Ordubad ($1.0m) and Gosha ($0.3m). • Touching on dore and concentrate sales, the Company said it signed up a second gold refinery for its gold dore sales in late 2018 helping to secure the best commercial terms while also bringing in Trafigura in mid-2018 for its copper concentrate sales. • Minor delays in the shipment of flotation concentrates experienced in H1/19 as Trafigura established its logistical procedures have now been resolved and shipments continue as usual. • Annual production reiterated at 82-86koz GE. Conclusion: Good set of results with strong FCF generation supported by low cost status of operations translating into ~55% EBITDA margins (close to SPA EBITDA and FCF estimates $22.2m and $9.3m, respectively). That coupled with >$15m in net cash, the Company decided to pay out 34% of its unlevered FCF (v 25% policy) in the interim dividend further highlighting directors’ confidence in Gedabek operations. Additionally, the Company invests heavily in organic growth focusing on both expanding the resource/reserve base around the existing Gedabek processing complex as well as greenfield exploration at Ordubad. The Company has also reported to be evaluating several opportunities outside Azerbaijan potentially offering growth in production profile through M&A. H2/19 is set to come in stronger led by stronger GE production driving unit costs lower as well as ~$150/oz increase in average gold prices (H1/19 av $1,306/oz v H2/19 (to mid Sep/19) av $1,467/oz). *SP Angel act as Nomad and broker to Anglo Asian Mining
Anglo Asian Mining Plc (AAZ.L) Announced, in its interim results for the six-month period ended 30 June 2019, that the revenue rose to $43.33 million from $39.97 million posted in the same period preceding year. The company’s profit before tax stood at $10.28 million, compared to profit of $8.07 million reported in the previous year. The basic earnings per share stood at 5.81c compared to earnings per share of 4.46c reported in the previous year. The company’s cash and equivalents stood at $20.48 million.
Interim dividend for 2019 increased to US cents 3.50 per ordinary share. Anglo Asian Mining plc, the AIM listed gold, copper and silver producer in Azerbaijan, is pleased to announce its interim results for the six-month period ended 30 June 2019. Note that all references to "
quot; and "cents" are to United States dollars and cents..
Anglo Asian Mining* (AAZ LN) 149.5p, Mkt Cap £171m – Comment regarding media article • Interfax-Azerbaijan ran a short article yesterday regarding the ministry of Economy engaging a consultant to advise on a possible transaction with R.V. Investment Group Services, a subsidiary of Anglo Asian whose principal asset is the Group’s PSA with the government. • The Company notes that while it has been in recent discussions with the Government of Azerbaijan and other parties in relation to potential transactions, such discussions are preliminary and no terms have been discussed or agreed. • The announcement also highlights that the Company is regularly in discussions with other parties regarding the development of the Group. *SP Angel act as Nomad and broker to Anglo Asian Mining
Anglo Asian Mining PLC, the AIM listed gold, copper and silver producer focused in Azerbaijan, notes the recent press report regarding the Ministry of Economy of Azerbaijan engaging a consultant to advise on a possible transaction with R.V. Investment Group Services, LLC, a subsidiary of Anglo Asian whose principal asset is the Group's production sharing...
Anglo Asian Mining PLC, the AIM listed gold, copper and silver producer focused in Azerbaijan, notes the recent press report regarding the Ministry of Economy of Azerbaijan engaging a consultant to advise on a possible transaction with R.V. Investment Group Services, LLC, a subsidiary of Anglo Asian whose principal asset is the Group's production sharing...
Anglo Asian Mining* (AAZ LN) 134p, Mkt Cap £154m – H1/19 exploration update highlight mineral resource growth potential BUY – TP under review • The team completed the ranking of primary targets identified by the recently completed geophysics survey kick starting work on high priority prospects, continued both infill and step out drilling at producing assets as well as progressed with exploration work at Ordubad. • At Gedabek Contract Area, main objectives of the 2019 exploration programme focused on in-pit as well as near-mine drilling at Gedabek, exploration of the mineralisation potential at Gedbek underground, Gadir lateral and down-dip exploration potential and prospective work on ‘high-priority’ ZTEM targets. • Gedabek in-pit drilling returned good copper and gold grades with the data to be used in the Mineral Resource update. Selected intersections included: Drillhole Depth, m Interval, m g/t Au g/t Ag % Cu 19GBD04 85 1.0 1.17 22 2.07 19GBD07 58 9.0 5.07 63.53 - 19GBD08 147.9 4.9 11.05 76.08 - 154.5 1.0 2.29 51.88 2.25 • Additionally, some 63 RC holes were completed in H1/19 in adjacent to the open pit for grade control and mineral resource expansion purposes. • At Gadir, 101 core holes were completed with roughly a third dedicated to test lateral and dip extension of the orebody and 2/3s of infill drilling with selected results including: Drillhole Depth, m Interval, m g/t Au g/t Ag 19GUD09 58.4 1.6 4.45 - 19GUD10 99.5 1.2 11.09 - 19GUD17 19 13.5 4.47 25.2 19GUD17 36 1.0 6.02 92 • Field mapping and outcrop sampling is in progress on ‘high priority’ ZTEM targets including Korogly, Zehmet and Gyzyljadag/Yagublu. • Samples are being assayed for gold, silver, copper and zinc. • At Korogly and Zehmet, the team is referring to excellent results with one sample showing strong limonitic alteration with a grade of 95.4g/t. • At Zehmet, trenching returned gold grades of up to 3.44g/t and 2.09% Cu. • At Gosha Contract Area, prospective work focused on step out drilling testing dip extensions of the Gosha orebody as well surface sampling at adjacent targets. • 6 core drill holes have been completed and 2 more are in progress at the Gosha mine for a total of 1,896m with assays showing very narrow but high grade intersections including: Drillhole Depth, m Interval, m g/t Au GSHDD06 282.2 0.3 4.27 GSHDD02 361.8 0.2 3.59 GSHDD06 265.2 0.1 5.92 • Outcrop samples at Asrikchay returned high contained grades of gold/silver/copper in one of the areas labelled QS including: Sample g/t Au g/t Ag % Cu QS02 2.77 33.5 9.75 QS04 4.13 30.72 10.32 QS16 7.46 99.34 9.26 QS18 4.38 38.77 0.1 • Given high grades recorded in samples, the Company is planning to follow up QS with drilling H2/19. • Surface sampling at Khatinca, another target located 4km away from the Gosha mine that was selected due favourable geology, did not return notable grades with further work planned at the site. • At Ordubad Contract Area, drilling was conducted at the Dirnis copper/silver prospect (18 drillholes for 3,642m) and Keleki (10 drillholes for 1,765m) as well as a small geochemical programme at Destabashi. • At Dirnis selected drill results included narrow high in copper intersections including: Drillhole Depth, m Interval, m g/t Ag % Cu DRDD04 102 0.6 47.64 3.8 109 0.4 24.39 1.19 115 2.0 18.48 1.29 • Remaining results are to be reported once available. • At Keleki, drillholes are being assayed with results expected in Q3/19. • The plan is to spend $1.8m in H2/19 on remote sensing, mapping, geochemical and drilling data interpretation at Ordubad assessing the region’s potential for hosting copper/gold deposits including porphyry type systems. Conclusion: Exploration work continues across the Company’s properties in Azerbaijan. Drilling at operating mines point to a potential for mineral resource expansion while exploration work at greenfield target areas returns exciting early results (areas at Asrikchay, Zehmet and Korogly, in particular) to be followed up with more groundwork including drilling. With the Gedabek running smoothly, the team is working on building the pipeline of projects across its permit areas to ultimately extend the life of its operations. *SP Angel act as Nomad and broker to Anglo Asian Mining
RNS Number: 3846 I Anglo Asian Mining PLC 08 August 2019 Anglo Asian Mining plc/ Ticker: AAZ/ Index: AIM/ Sector: Mining. H1 2019 Geological Exploration Activities. Anglo Asian Mining PLC, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide a summary of its geological exploration activities from 1 January to 30 June 2019 at its...
Anglo Asian Mining* (AAZ LN) 122p, Mkt Cap £139m – Robust production and strong margins driven net cash to $15.4m in Q2/19 BUY – TP under review • Production amounted to 19.6koz GEO in Q2/19 (+3%yoy) taking total for H1/19 to 39.9koz GEO (+7%yoy). • The Company remains on track to achieve 2019 annual guidance of 82-86koz GEO. • GEO output was slightly lower on the previous quarter (Q1/19: 20.3koz) on the back of lower copper grades processed that are expected to pick up in H2/19. • Breaking down between commodities, gold production amounted to 17.1koz (Q1/19: 17.2koz), copper output was 450t (Q1/19: 513t) and silver was 33koz (Q1/19: 51koz). • Agitation leaching plant performed well contributing 12.8koz treating 177kt at 2.4g/t and demonstrating best gold recoveries (c.94%) since commissioning in 2013. • Heap leaching operations contributed 3.3koz with 438kt at 0.63g/t stacked on heaps during the quarter. • Flotation plant produced 0.4kt of copper (Q1/19: 0.5kt) and 1.1koz of gold (Q1/19: 1.7koz) treating 131kt at 0.46% Cu. • Total concentrate production from flotation and SART plants totalled 2.4kt (Q1/19: 3.0kt). • Q2/19 gold bullion sales amounted to 13.5koz at $1,332/oz (Q1/19: 13.1koz at $1,306/oz) after deducting 12.75% in government share of sales under the PSA. • Concentrate sales totalled 4.0kt of concentrate generating $6.7m in post PSA revenues (Q1/19: 0.3kt for $0.7m). • Higher concentrate sales are attributed to the disposal of concentrate production backlog from the previous quarter following a resolution to logical issues by off-taker. • Strong cash flow from Gedabek operations led to further build up in the net cash position that climbed to $15.4m as of Q2/19 end, up on $10.8m as of Q1/19 end and $6.1m as of Dec/18. • The net cash balance is made of $20.5m in cash and $5.1m in outstanding Pasha Bank loan facility. • The Company paid $2.2m in taxes during the quarter taking the total paid in H1/19 to $3.0m. Conclusion: Good quarter with production up 7%yoy in H1/19 and the Company remaining on target for 82-86koz in FY19. Cash flow generation remains strong (Net Cash up by $9.3m since start of the year and standing at $15.4m) supported by low cash costs of operations. We remain buyers of Anglo Asian highlighting robust cash flows and exploration upside of the currently carried programme at Gedabek as well as Ordubad contract areas amid high gold price environment. *SP Angel act as Nomad and broker to Anglo Asian Mining
Anglo Asian Mining Plc (AAZ.L) Announced, in its sales and operations review for its Gedabek gold, copper and silver mining and production contract area, that its 2Q19 production lower than 1Q19 production by 669 GEOs mainly due to copper production reduced by 63 tonnes following planned mining of lower copper grade ore in the quarter - copper grades expected to increase in remainder of the year. Further, its gold production totalled 17,149 ounces, compared to 16,764 ounces in the preceding year. And its copper production totalled 450 tonnes, compared to 332 tonnes in previous year.
H1 2019 Year-on-Year Production up 7 per cent. and Increase in net cash to $15.4 million. Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide a production, sales and operations review for its Gedabek gold, copper and silver mining and production contract area in western Azerbaijan for the three...
Anglo Asian Mining* (AAZ LN) 115p, Mkt Cap £132m – Final dividend (4USc) payment BUY – TP Under Review • The final dividend of 4USc will be paid on 25 July 2019 to shareholders on the share register on 28 June 2019. • Using the average GBPUSD exchange rate of 1.2580 the sterling amount payable in cash will be 3.1797p per share. • Together with a 2.29p interim dividend, that amounts to nearly 5.5p paid in dividends in respect of the 2018 year, equivalent to 10.4% dividend yield on an average price of 53p. Conclusion: The first full year of dividend payments reflects the Company’s strong free cash flow generation and net debt free balance sheet. The Company is expected to remain highly profitable this year with the Board committed to pay at least 6USc in respect of 2019 which yields around 4.2% on the current share price of 115p. In addition to the dividend income, the Company is offering an exciting exploration exposure with the latest geophysics survey identifying a series of new prospective targets within the Gedabek Contact Area. *SP Angel act as Nomad and broker to Anglo Asian Mining
On 16 May 2019, the directors of Anglo Asian Mining plc announced a final dividend in respect of the year ending 31 December 2018 of US $0.04 per ordinary share which was approved at the Company's annual general meeting on the 20 June 2019. This final dividend is to be paid on 25 July 2019 to shareholders on the share register on 28 June 2019. The dividend will be...
Anglo Asian* (AAZ LN) 120p, Mkt Cap £137m – Board presents to packed AGM on dividends, further expansion and new exploration success BUY – TP Under Review • The board and its technical experts presented to a packed AGM of investors on the company strategy going forward. • Management highlighted how unusually well aligned they are with shareholders in their interests. • Anglo Asian paid out 7c/s representing just over 25% of earnings in dividends following impressive performance in lowering costs and driving production. • The payout implies a 10.2% yield on 2018 average price of 53p • All in cash costs fell to $541/oz placing the company at the lowest quartile of global gold producers. • The team reported a 17% increase in production at 83.7koz gold equivalent ounces in the upper range of the guidance driving pre-tax profits to $25.2m • Critically, the team highlighted their thoughts and excitement on the newly announced exploration targets close to the Gedabek gold mine . • Exploration: recent geological surveys indicate good potential over 31 prospective targets with 20 anomalies close to surface offering the opportunity to fast track new production from a number of open pits. • We look forward to an exciting year from an exploration perspective. *SP Angel act as Nomad and broker to Anglo Asian Mining
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Company Profile

Anglo Asian Mining PLC is an AIM quoted (ticker – AAZ) company with a portfolio of gold, copper and silver production and exploration assets in Azerbaijan. The Group has a 1,926 square kilometre portfolio of gold, silver and copper properties at various stages of the development cycle. These include Anglo Asian’s open pit and underground Gadir mine and the Ugur deposit under development at Gedabek, the Gosha mine which is located 50km from Gedbek and Ordubad, the Group’s early stage gold and copper exploration project.

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HQ
20, Block 520
Huseyn Javid Avenue
Baku
AZ 1073
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