Business
FY2018 Production Guidance of 78,000 - 84,000 GEOs
FY2018 Production Guidance of 78,000 - 84,000 GEOs.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 9506D Anglo Asian Mining PLC 06 February 2018 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n6 February 2018\n \nAnglo Asian Mining plc\nProduction Guidance for Full Year 2018\n \n Over 13 per cent. increase in 2018 production compared to the previous year to 78,000 - 84,000 gold equivalence ounces\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 production guidance for the year ended 31 December 2018 (\"FY 2018\").\n \nOverview\n \n· Forecast production for FY 2018 of between 78,000 to 84,000 gold equivalent ounces (\"GEOs\"), an increase for the mid-point of this guidance of over 13 per cent. compared to FY 2017 production of 71,461 GEOs\n· Forecast production for FY 2018 of between 64,000 to 70,000 ounces of gold (FY 2017: 59,617 ounces of gold produced) and between 2,100 to 2,300 tonnes of copper (FY 2017: 1,991 tonnes of copper produced)\n· Increase in total anticipated production during 2018 resulting from the optimisation initiatives undertaken at Gedabek in 2017, with continuation of production from the new Ugur open pit and Gadir underground mines and recommencement of mining in the Gedabek main open pit\n· Start-up of second crusher line for the flotation plant in Q2 2018 will enable copper production to increase\n \nAnglo Asian CEO Reza Vaziri commented, \"2018 is shaping up to be a year of delivery for Anglo Asian with production of between 78,000 to 84,000 gold equivalent ounces planned by our operational team. The mid-point of this guidance is over 13 per cent. higher than FY 2017 production and continues the upward trajectory from last year which we believe will continue in the coming years. As in previous years, the second half of 2018 is expected to be better than the first due to seasonal factors and the added momentum of the flotation plant processing on a stand-alone basis from Q2 2018.\n \n\"Key to the future growth of the Company will be expansion opportunities and with this objective we are commencing a substantial geological exploration programme at Gedabek. I look forward to reporting details of this programme i...