Business
Notice of Discovery
Notice of Discovery.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n Anglo Asian Mining PLC\n05 March 2007\n\n\n \n\n\n5 March 2007\n\n\n\n ANGLO ASIAN MINING PLC\n\n ('Anglo Asian' or 'the Company')\n\n\n AAZ Submits Notice of Discovery\n\n\nAnglo Asian Mining PLC (AIM:AAZ) the gold and copper development company with\nprojects in Azerbaijan, is pleased to announce they submitted a 'Notice of\nDiscovery and its Commerciality' for the Gedabek property to the Azerbaijan\nMinistry of Ecology and Natural Resources ('MENR') on 26 February 2007. This\nsubmission follows the successful completion of the scoping study on Gedabek as\nannounced on 15 February 2007.\n\n\nUnder the terms of the Product Sharing Agreement ('PSA'), the submission of the\nNotice of Discovery will initiate the 15 year Development and Production Period,\nwith the potential for two five year extensions. The information provided within\nthe Notice of Discovery was drawn from the results of the recently completed\nscoping study. The Gedabek project will now move to feasibility which is\nexpected to be completed in the second quarter of 2007 with construction\ntargeted to begin in the summer.\n\n\nCommenting on the Notice of Discovery, Chief Executive Gordon Lewis stated,\n'This submission marks a significant milestone for Anglo Asian as we now move\nforward to feasibility at Gedabek. We continue to investigate the potential\ncontained within our other Azerbaijan properties and look forward to reporting\nthose to the market.'\n\n\n-Ends-\n\n\nFor further details, please contact:\n\n\nAnglo Asian Mining PLC\n\nGordon Lewis, Chief Executive +994 12 499 3350\n\nRichard Round, Finance Director +44 1525 211 988\n\n\nNumis Securities Limited\n\nJohn Harrison +44 20 7776 1590\n\n\nParkgreen Communications\n\nVictoria Thomas +44 20 7851 7480\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2058,"tagName":"div"}]