Business
Commencement of Production from Ugur Open Pit Mine
Commencement of Production from Ugur Open Pit Mine.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 6004Q Anglo Asian Mining PLC 13 September 2017 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n13 September 2017\nAnglo Asian Mining plc\nCommencement of Gold and Silver Production from the Ugur Open Pit Mine at Gedabek licence area, Azerbaijan\n \nAnglo Asian Mining plc (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer, is pleased to announce the commencement of production at the Company's latest mine, the Ugur Open Pit Mine (\"Ugur\"), located at its Gedabek licence area (\"Gedabek\") in Western Azerbaijan.\n \nThe Directors are pleased to report that Ugur is already making a highly significant contribution to Anglo Asian's production. The average daily gold production in the form of gold doré for the period from 1 to 10 September 2017 was 212 ounces which is 116 per cent. higher than the average daily production for the previous eight months. This average daily production is expected to increase further as Ugur moves into full production.\n \nHighlights\n \n· Significantly increased average daily gold production from Ugur - average daily gold doré production for first 10 days of September has more than doubled compared to the average daily production of the previous eight months\n· Mining conducted by conventional shovel and truck haulage before crushing and agitation leaching treatment\n· Ugur ore treated only by agitation leaching - flotation plant is now independently processing mainly high sulphide stockpiled ore\n· Production at Ugur being conducted in parallel with optimisation and expansion initiatives across Gedabek to deliver a long-term, sustainable and profitable mining operation\n \nAnglo Asian CEO, Reza Vaziri, said \"Progressing from discovery to production in a year is a significant achievement and underlines Anglo Asian's confidence that the Ugur deposit will be an important contributor to the Company's future production. Indeed, the impact on gold doré production has already been significant. The average daily ounces of gold produced as doré has more than doubled so far in September compared to the previous eight months. \n \n\"Bringing Ugur into production now, whilst we undertake the previously reported optimis...