Anglo Asian Mining (AAZ)

Sector:

Mining

Index:

FTSE AIM All-Share

67.54p
   
  • Change Today:
      0.54p
  • 52 Week High: 97.50
  • 52 Week Low: 42.00
  • Currency: UK Pounds
  • Shares Issued: 114.39m
  • Volume: 19,031
  • Market Cap: £77.26m
  • RiskGrade: 310

Anglo Asian reports promising drill results from Gilar deposit

By Josh White

Date: Monday 23 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Anglo Asian Mining reported promising drill results from the Gilar deposit in Azerbaijan on Monday, confirming an expansion of mineralisation compared to previous findings.
The AIM-traded firm said the drilling efforts unveiled up to 21 metres of continuous gold and copper mineralisation.

It said the Gilar deeper zone, rich in gold, copper, and zinc, now exhibited an intercept thickness exceeding 20 metres.

Additionally, two step-out drill holes reinforced the potential for extending that mineralisation.

Given its depth, Anglo Asian said it intended to continue drilling from underground locations.

In preparation for accessing the mineralisation, the company said it was progressing with the construction of the main decline and a ventilation tunnel, while an area had also been designated for rock storage, and plans for a haul road from the mine to the processing plant were finalised.

A temporary heavy earthworks equipment workshop was set to start construction at the portal area.

Critical support measures were implemented at the portal pushback area, including geotechnical wire mesh and shotcrete.

Further infrastructure enhancements, such as a boundary fence, lighting, and auxiliary equipment, including compressors and generators, had now been installed.

Anglo Asian said it was also working on a Joint Ore Reserves Committee (JORC) mineral resource estimate (MRE) for the Gilar deposit.

The company said its independent geological consultants, Mining Plus UK, had completed a site visit in September as part of the due diligence process.

It was expecting the release of the maiden JORC MRE for the Gilar deposit in November.

"The drilling results have further confirmed the extension potential of the deeper mineralisation, which will form an important component of the upcoming JORC report and prove once again the significance of the Gilar deposit," said the company's vice-president, Stephen Westhead.

"We look forward to continuing to develop the Gilar deposit, culminating in the first production in the first half of 2024.

"The Gilar mine will be an important contributor to the future production of the company given the high grades of both gold and copper."

At 0919 BST, shares in Anglo Asian Mining were up 1.26% at 44.56p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AAZ Market Data

Currency UK Pounds
Share Price 67.54p
Change Today 0.54p
% Change 0.80 %
52 Week High 97.50
52 Week Low 42.00
Volume 19,031
Shares Issued 114.39m
Market Cap £77.26m
RiskGrade 310

AAZ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.81% below the market average4.81% below the market average4.81% below the market average4.81% below the market average4.81% below the market average
4.55% below the sector average4.55% below the sector average4.55% below the sector average4.55% below the sector average4.55% below the sector average
Price Trend
22.18% below the market average22.18% below the market average22.18% below the market average22.18% below the market average22.18% below the market average
10.64% above the sector average10.64% above the sector average10.64% above the sector average10.64% above the sector average10.64% above the sector average
Income Not Available
Growth
96.72% below the market average96.72% below the market average96.72% below the market average96.72% below the market average96.72% below the market average
96.72% below the sector average96.72% below the sector average96.72% below the sector average96.72% below the sector average96.72% below the sector average

AAZ Dividends

  Latest Previous
  Final Interim
Ex-Div 29-Jun-23 29-Sep-22
Paid 27-Jul-23 03-Nov-22
Amount 4.00¢ 4.00¢

Trades for 18-Jun-2024

Time Volume / Share Price
10:02 1 @ 67.96p
09:41 700 @ 68.00p
09:38 3,019 @ 68.00p
09:38 5,147 @ 67.88p
09:24 6,718 @ 67.05p

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