Business
Full Year 2024 Production Guidance
Full Year 2024 Production Guidance.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n\n \n22 August 2024\n\nAnglo Asian Mining PLC\nFull Year 2024 Production Guidance\n \nAnglo Asian Mining PLC (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces its production guidance for the full year 2024 (\"FY 2024\") after receiving authorisation on 5 August to raise the wall of its tailings dam. The Company is forecasting production of between 15,000 and 19,500 gold equivalent ounces (\"GEOs\") comprising 250 to 850 tonnes of copper and 14,000 to 16,000 ounces of gold.\n \nFY 2024 production guidance is as follows:\n \n\n\n\n\nMetal\n\n\nFull year 2024\n\n\n\n\nProduction Guidance*\n\n\n\n\nGold\n\n\n14,000 to 16,000 ounces\n\n\n\n\nCopper\n\n\n250 to 850 tonnes\n\n\n\n\nTotal**\n\n\n15,000 to 19,500 GEOs\n\n\n\n\n \n* The Company does not forecast silver production as it is not material.\n** The gold equivalent ounces have been computed using actual metal prices for the 7 months of January to July 2024 and a gold price of $2,500 per ounce and a copper price of $8,900 per tonne for the 5 months of August to December 2024.\n \nThe raise of the tailings dam wall commenced immediately upon receipt of authorisation. The work is progressing well, and the Company anticipates that the first raise of 2.5 metres will be completed within 3 months.\n \nThe agitation leaching plant has undergone extensive renovation and refurbishment during the last 12 months. In preparation for restarting production, the Company has undertaken cold commissioning of the plant using water for testing and has rectified all minor leaks. All crushing and grinding equipment has also been subject to extensive maintenance and is fully operational.\n \nThe Company expects the agitation leaching plant will be ready for full production and will restart in mid-September, initially processing 97,000 tonnes of stockpiled ore. The flotation plant will restart in November on an independent basis using fresh ore from the existing open pit.\n \nThe Company expects the first ore to be mined from Gilar in December, with the planned extraction and processing of approximately 35,000 to 40,000 tonnes of ore grading 1.6 grammes of gold per tonne and 2 per cent copper in the month. To treat Gilar ore, processing will be re...