Business
Full year results 2018 - pre-tax profit of $25.2m
Full year results 2018 - pre-tax profit of $25.2m.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 1786Z Anglo Asian Mining PLC 16 May 2019 \n\n \nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n16 May 2019\nAnglo Asian Mining PLC \nFull year results - 2018\nProfit before tax increases to $25.2 million (2017: $5.7 million)\nFinal dividend of $0.04 per share giving a total 2018 dividend of $0.07 per share\n \nAnglo Asian Mining PLC (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce its final audited results for the year ended 31 December 2018 (\"FY 2018\"). Note that all references to \"$\" are to United States Dollars.\n \nHighlights\n \n· Achieved FY 2018 production at the upper range of the Company forecast - 83,736 gold equivalent ounces (\"GEOs\") produced compared to forecast of 78,000 to 84,000 GEOs:\no Total production for FY 2018 increased by 17 per cent. year-on-year (\"y-o-y\") to 83,736 GEOs (FY 2017: 71,461 GEOs) \no Gold production for FY 2018 increased by 22 per cent. y-o-y to 72,798 ounces (FY 2017: 59,617 ounces)\no Copper production for FY 2018 of 1,645 tonnes (FY 2017: 1,991 tonnes)\no Silver production for FY 2018 of 210,184 ounces (FY 2017: 172,853 ounces)\n· Gold bullion sales in FY 2018 of 59,481 ounces (FY 2017: 43,496 ounces) completed at an average of $1,265 per ounce (FY 2017: $1,265 per ounce) \n· All-in sustaining cost of gold production in 2018 further decreased in the lowest quartile to $541 per ounce (2017: $604 per ounce) \n· Net cash of $6.1 million at 31 December 2018\n· Final dividend declared of $0.04 per ordinary share payable on 25 July 2019 subject to approval at the Annual General Meeting giving a FY 2018 total dividend of $0.07 per ordinary share\n· Total production target for FY 2019 of between 82,000 and 86,000 GEOs\n \nFinancials\n \n· Total revenues in 2018 of $90.4 million representing a 26 per cent. y-o-y increase (2017: $71.8 million)\n· Profit before taxation in 2018 of $25.2 million representing a more than four times increase (2017: $5.7 million) \n· Operating cash flow before movements in working capital for FY 2018 of $50.1 million (2017: $32.2 million...