Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Announces that amendments to its production sharing agreement have been ratified by the Parliament of Azerbaijan, granting the company three new contract areas with a combine areas of 882 square kilometres.
Anglo Asian will start a detailed review of existing data and opportunities for the development of the new areas to achieve mid-tier production status. Anglo Asian now has eight contract areas in Azerbaijan, covering a total areas of 2,544 square kilometres.
‘The significance of these acquisitions cannot be overstated, adding considerable mineralisation to our asset base and revolutionising our portfolio. These new contract areas provide Anglo Asian with a pathway to achieving our ambition of becoming a mid-tier mining company. In pursuit of this, the company is currently developing our operational growth strategy and we look forward to sharing this with the market once finalised,’ said Chief Executive Officer Reza Vaziri.
Current stock price: 93.00 pence
12-month change: down 32%
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