Business
AGM 2020 - Letter from CEO to Company Shareholders
AGM 2020 - Letter from CEO to Company Shareholders.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \n \n RNS Number : 6951Q\n Anglo Asian Mining PLC\n 23 June 2020\n \n \n \n Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n \n 23 June 2020\n Anglo Asian Mining PLC\n (\"Anglo Asian\" or the \"Company\")\n AGM 2020 - Letter from Reza Vaziri to Shareholders of the Company\n \n Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, is holding its annual general meeting (\"AGM\") at 10:30am today at The London Marriott Hotel Twickenham, 198 Whitton Road, Twickenham TW2 7BA. As previously notified, this is a closed AGM and shareholders will not be able to attend due to COVID-19 pandemic safety concerns. Accordingly, the following letter to shareholders has been released by Reza Vaziri, the Company's CEO.\n Dear Shareholders\n As you are all aware, I cannot be with any of you today. This is personally a big disappointment as I always enjoy meeting shareholders at our annual general meetings which are very valuable opportunities for exchanging views. I and my fellow directors very much look forward to meeting you all again next year. We all hope that the COVID-19 pandemic restrictions will be behind us by that time.\n 2019 has been another year of consistent delivery for the Company. Anglo Asian Mining is now a well-established, dividend paying, low cost producer of gold, copper and silver. The year demonstrated the Company's ability to deliver excellent financial performance and production whilst pursuing growth opportunities. To date, the Company has also been able to weather the COVID-19 pandemic without significant disruption to its operations or performance.\n Our impressive financial performance in 2019 was highlighted by revenues of US$92.1 million, a two per cent. year-on-year increase. Profits after tax increased by over 18 per cent. to US$19.3 million and we ended the year with US$21.1 million in net cash, a significant increase compared to $6.1 million in the previous year. I am delighted to report an increased total dividend for 2019 of US$0.08 per ordinary share. We understand the importance of dividends for shareholders and, as one of the few mining companies on the London AIM market that pays dividends, we take great pleasure in rewarding our shareholders for their continued support. \n Production levels in 2019 remained cons...