18th Jun 2019 16:12
(Alliance News) - Azerbaijan-focused gold, copper and silver producer Anglo Asian Mining PLC said Tuesday it has achieved "significant" milestones over the past 18 months.
Anglo Asian said it is in a "transformational" stage of its development but has identified a "significant" number of exploration targets,
2019 will be the second year of the company's three-year exploration programme, which is "progressing well", Anglo Asian said. The company noted that all of its geological reporting is now in line with the JORC code.
"Further work defining the ore at Gedabek underground is ongoing, as well as lateral and down-dip mineralisation definition at Gadir," the company explained.
For 2019, a budget of USD1.8 million has been approved for a work programme at the company's Ordubad project.
"Current production has shown a steady increase and the stable operational conditions provide the financial platform on which to grow the exploration assets and convert them into future production," the company added.
Shares in Anglo Asian Mining were up 4.5% Tuesday at 116.50 pence each.
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