Business
2022 Annual General Meeting Statement
2022 Annual General Meeting Statement.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \n \n Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n \n \n \n \n 23 June 2022\n \n \n \n \n \n \n Anglo Asian Mining plc\n \n \n \n \n 2022 Annual General Meeting Statement\n \n \n \n \n \n \n Anglo Asian Mining PLC (\"Anglo Asian\" or the \"Company\"), the AIM-listed gold, copper and silver producer focused on Azerbaijan, is holding its annual general meeting for 2022 at 11.00 am today at 33 St James' Square, London, SW1Y 4JS. At the meeting Reza Vaziri, Anglo Asian's President and Chief Executive, will make the following statement:\n \n \n \n \n \n \"2021 was a transformational year for Anglo Asian Mining. The agreement with the Government of Azerbaijan for new concessions will significantly enhance our portfolio in the country. We also made our first investment outside of Azerbaijan. Our operational and financial performance were both solid and within guidance. This was achieved against a background of geopolitical instability and the waning COVID-19 pandemic.\n \n \n \n \n \n \"The year saw a continued reliable performance from our existing operations. The Company produced a total of 64,610 gold equivalent ounces during the year, a 4 per cent. decline due to the lower gold grades of ore processed. We reported a robust financial performance with revenues of $92.5 million and profit before taxation of $12.6 million. At 31 December 2021, we held cash of $37.5 million, having paid $10.9 million in dividends during the year. Our all-in sustaining cost for the year was $843 per ounce.\n \n \n \n \n \n \"We continue to make progress with our extensive exploration programme which underpins our near-term production. Early in 2021, we announced the discovery of Zafar, a new copper deposit at Gedabek. Its final mineral resources were announced in March 2022 and production is planned to start next year. In March 2022, we were pleased to announce the discovery of a new gold vein, \"Hasan\", to the south of the Gosha gold mine which will start production later this year. We are also making good progress at our restored contract area of Vejnaly with mining due to start later this month.\n \n \n \n \n \n \"In September 2021, we announced an agreement with the Government of Azerbaijan to acquire three new concessions: Garadagh, Xarxar and Demirli. This acquisitio...