29th Jun 2021 17:37
Anglo Asian Mining PLC - gold, copper and silver producer operating in Azerbaijan - In letter for annual general meeting that was held on Tuesday, President & Chief Executive Reza Vaziri says Covid-19 restrictions in Azerbaijan have now mostly all been lifted and daily life has "more or less" returned to normal.
"The company's main priority is to now increase production by developing new mines as the Gedabek open pit nears the end of its life. I was therefore delighted at the recent discovery of the Zafar deposit, which is situated very close to our processing facilities," says Vaziri.
Firm in talks, which are progressing "satisfactorily" but taking longer than expected, with the government to obtain additional contract areas in Azerbaijan which will mostly be contiguous with Gedabak contract area.
Adds: "We continue to look at opportunities outside of Azerbaijan which will add shareholder value as we believe the market places a higher value on miners which operate in multiple jurisdictions. We also believe operating in multiple jurisdictions will be valuable experience for the company."
Current stock price: 143.50 pence, up 2.5% on Tuesday
Year-to-date change: up 9.1%
By Lucy Heming;Â [email protected]
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