Anglo Asian Mining PLC Payment of 2020 Final Dividend (9620E)
12 July 2021 - 11:25PM
UK Regulatory
TIDMAAZ
RNS Number : 9620E
Anglo Asian Mining PLC
12 July 2021
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
12 July 2021
Anglo Asian Mining plc
Payment of 2020 Final Dividend
On 20 May 2021, the Directors of Anglo Asian Mining plc ("Anglo
Asian", the "Company" or the "Group") announced a final dividend in
respect of the year ending 31 December 2020 of US 3.5 cents per
ordinary share. This final dividend is to be paid on 29 July 2021
to shareholders on the share register on 2 July 2021. The dividend
is payable in cash in sterling to holders of ordinary shares. A
scrip dividend or any other dividend reinvestment plan will not be
offered by Anglo Asian Mining plc.
The dividend will be converted to pounds sterling using the
average of the sterling closing mid-price using the exchange rate
published by the Bank of England at 16:00 BST each day from 5 to 9
July 2021, being GBP1 = US$1.3805. Accordingly, the amount of
sterling dividend payable in cash on 29 July 2021 will be:
2.5354 pence per ordinary share.
**ENDS**
For further information please contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
------------------------------ ----------------------
Stephen Westhead Anglo Asian Mining plc Tel: +994 502 916 894
------------------------------ ----------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Adam Cowl SP Angel Corporate Finance Tel + 44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Charlie Jack Hudson Sandler Tel: +44(0) 20 7796
4133
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Elfie Kent Hudson Sandler Tel: +44(0) 20 7796
4133
------------------------------ ----------------------
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio at its active Gedabek, Gosha and Ordubad
contract areas assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
("PSA") modelled on the Azeri oil industry. The Company also has
three recently restored contract areas in the formerly Occupied
Territories and Karabakh under its PSA and which the Company has
started to preliminary evaluate.
The Company's main operating location is the Gedabek contract
area ("Gedabek") which is a 300 square kilometre area in the Lesser
Caucasus mountains in western Azerbaijan. The Company developed
Azerbaijan's first operating gold/copper/silver mine at Gedabek
which commenced gold production in May 2009. Mining at Gedabek was
initially from its main open pit which is an open cast mine with a
series of interconnected pits. The Company also operates the high
grade Gadir underground mine which is co-located at the Gedabek
site. The Company has a second underground mine, Gosha, which is 50
kilometres from Gedabek. Ore mined at Gosha is processed at Anglo
Asian's Gedabek plant.
The Company produced 67,249 gold equivalent ounces ("GEOs") for
the year ended 31 December 2020. Gedabek is a polymetallic ore
deposit that has gold together with significant concentrations of
copper in the main open pit mine. The Company therefore employs a
series of flexible processing routes to optimise metal recoveries
and efficiencies. The Company produces gold doré through agitation
and heap leaching operations, copper concentrate from its
Sulphidisation, Acidification, Recycling, and Thickening (SART)
plant and also a copper and precious metal concentrate from its
flotation plant.
The Company has a production target for the year to 31 December
2021 of 48,000 ounces to 54,000 ounces of gold and 2,500 tonnes to
2,800 tonnes of copper. This total production target expressed as
gold equivalent ounces ("GEOs") at budgeted prices is between
64,000 GEOs and 72,000 GEOs.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for properties in other jurisdictions in order to fulfil
its expansion ambitions and become a mid-tier gold and copper metal
production company.
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