Business
Q1 2016 operations and production update, Gedabek
Q1 2016 operations and production update, Gedabek.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 9823U Anglo Asian Mining PLC 13 April 2016 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n13 April 2016\nAnglo Asian Mining plc\nQuarter 1 2016, operations and production update - Gedabek gold, copper and silver mine, Azerbaijan\n \nAnglo Asian Mining plc (\"Anglo Asian\" or \"the Company\"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide an operations and production update from its Gedabek gold, copper and silver mine (\"Gedabek\") in western Azerbaijan for the three months to 31 March 2016 (\"Q1 2016\"). Note that all references to \"$\" are to United States dollars.\n \nProduction overview\n· Gold production for Q1 2016 totalled 14,172 ounces with 13,383 ounces contained within gold doré, 12 ounces from SART processing and 777 ounces from flotation (Q4 2015: total 17,930 ounces)\n· Copper production for Q1 2016 totalled 432 tonnes, 181 tonnes from SART processing and 251 tonnes from flotation (Q4 2015: total 335 tonnes)\n· Silver production for Q1 2016 totalled 34,342 ounces with 1,958 ounces contained within gold doré, 7,789 ounces from SART processing and 24,595 ounces from flotation (Q4 2015: total 17,710 ounces)\n· Gold production target for the year to 31 December 2016 (\"FY 2016\") is a total of between 73,000 ounces and 77,000 ounces (which includes approximately 4,000 ounces to 5,000 ounces of production from the flotation plant)\n· Copper production target for FY 2016 is between 1,700 tonnes and 2,100 tonnes, comprising between 700 tonnes to 800 tonnes from SART processing and between 1,000 tonnes to 1,300 tonnes from flotation\n \nOperational update\n· First full quarter of production from flotation plant - plant produced 251 tonnes of copper and 777 ounces of gold\n· Gold doré production lower than Q4 2015 due to harder ore with lower grades encountered and severe winter weather. Second SAG mill for the agitation leach plant now contracted for and expected to begin operation in Q3 2016. This will increase amount of ore that can be processed to offset slower milling of harder ore\n· Additional underground equipment purchased from Atlas Copco (drill machine, loader an...