Business
Operations Update
Operations Update.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n RNS Number : 9936J Anglo Asian Mining PLC 12 April 2010 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n12 April 2010\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nGedabek Operations Update - 6,167 oz March Gold Production\n \nAnglo Asian Mining plc, the AIM listed emerging gold producer, is pleased to provide an update on operations at its Gedabek gold/copper mine ('Gedabek') in Azerbaijan.\n \nOverview\n· Record production for month ending 31 March 2010 at Gedabek of 6,167 oz Au\n· Total production to date from Gedabek 25,022 oz Au - exceeding production target for first full year of operation to 30 June 2010 of 25,000 oz Au \n· Second calendar year production target of 53,500 oz Au\n \nAnglo Asian CEO Reza Vaziri said, \"Naturally we are delighted to report that gold production at Gedabek continues to increase and we are confident that this upward trend will be maintained as processing efficiencies further improve. We are particularly pleased to report that we have already exceeded our target production of 25,000 ounces of gold for the mine's first year of operation and anticipate that this figure will more than double for the calendar year ending 31 December 2010.\"\n \nIn the month ended 31 March 2010, the Company produced 6,167 ounces ('oz') of gold ('Au') at Gedabek. This brings total production to date from Gedabek to 25,022 oz Au, which is ahead of the Company's production target for the first full year of operation to 30 June 2010 of 25,000 oz Au. Going forward, Anglo Asian will report quarterly operation updates, with the first update commencing for the quarter ending 30 June 2010. Additionally, the Company is aligning its production forecasts with its calendar year reporting. In line with this, its production forecast for the year ending 31 December 2010 is 53,500 oz Au. \n \nThe following summary table of gold production and prices highlights the month-on-month increase in gold production at Gedabek. \n \n\n\n\n\nMonth\n\n\nGold Produced (Including Govt. of Azerbaijan's share) (oz)\n\n\nWeighted Average Gold Sale Price (US$)\n\n\n\n\nJuly 2009\n\n\n802\n\n\n944\n\n\n\n\nAugus...