Business
2023 Production Guidance
2023 Production Guidance.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \n \n 23 February 2023\n \n \n \n \n \n \n Anglo Asian Mining PLC\n \n \n \n 2023 Production Guidance\n \n \n 63 to 71 per cent. forecast increase in copper production\n \n \n \n \n \n \n \n Anglo Asian Mining PLC (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce\n its production guidance for the full year 2023 (\"FY 2023\"). The Company is forecasting to produce between 50,000 and 54,000 gold equivalent ounces comprising 4,100 to 4,300 tonnes of copper and 30,000 to 32,000 ounces of gold.\n \n \n \n \n \n 2023 is a pivotal year for Anglo Asian as it begins its transition to achieve significant copper production with the opening of its new Gilar and Zafar mines and the delivery of the increased capacity of its flotation plant. Copper production is forecast to increase by 63 to 71 per cent. and gold production to decrease by 26 to 30 per cent. This is in accordance with the Company's growing focus on copper, capitalising on the global decarbonisation agenda. More information about Anglo Asian's medium-term growth strategy and its increasing focus on copper will be announced later this quarter.\n \n \n \n \n \n FY 2023 production guidance is as follows:\n \n \n \n \n \n \n \n \n \n \n Metal\n \n \n \n \n \n \n Unit\n \n \n \n \n \n \n \n \n \n \n \n \n \n Full year 2023\n \n \n \n \n \n \n \n \n Full year 2022\n \n \n \n \n Actual production\n \n \n \n \n \n \n Production guidance\n \n \n \n \n \n \n \n Gold\n \n \n \n \n Ounces\n \n \n \n \n 43,114\n \n \n \n \n 30,000 to 32,000\n \n \n \n \n \n \n Copper\n \n \n \n \n Tonnes\n \n \n \n \n 2,516\n \n \n \n \n 4,100 to 4,300\n \n \n \n \n \n \n Gold equivalent ounces\n \n \n \n \n GEOs\n \n \n \n \n 57,618\n \n \n \n \n 50,000 to 54,000\n \n \n \n \n \n \n \n Note the Company does not forecast silver production as it is not material.\n \n \n \n \n \n \n \n \n The gold equivalent ounces have been computed using the following budget rates:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Price of metal ($)\n \n \n \n \n \n \n \n \n \n \n \n Weight of metal equivalent to one ounce of gold\n \n \n \n \n \n \n \n \n Metal\n \n \n \n \n \n \n Unit\n \n \n \n \n \n \n Actual\n \n \n \n \n 31 Dec...