Anglo Asian Mining (AAZ)

Sector:

Mining

Index:

FTSE AIM All-Share

68.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 97.50
  • 52 Week Low: 42.00
  • Currency: UK Pounds
  • Shares Issued: 114.39m
  • Volume: 37,187
  • Market Cap: £77.79m
  • RiskGrade: 310

Anglo Asian unveils maiden Xarxar resource estimate

By Josh White

Date: Tuesday 20 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Anglo Asian Mining announced a significant milestone on Tuesday, with the completion of its maiden JORC 2012 mineral resource estimate for the Xarxar copper deposit in Azerbaijan.
The AIM-traded company said the mineral resource estimate for the deposit revealed 24.9 million tonnes of mineralisation with an average copper grade of 0.48%.

Within the measured plus indicated JORC categories, that included 22 million tonnes of mineralisation containing 106,000 tonnes of copper.

The total in-situ mineral resource for copper stood at 119,100 tonnes.

Anglo Asian said the estimate was based on data gathered from 66 drill holes, amounting to a cumulative length of 21,707 metres.

Notably, the exploration efforts also involved the excavation of a 470-metre exploration adit to facilitate underground drilling and sampling.

"The maiden JORC mineral resource estimate for the Xarxar deposit demonstrates that this is a substantial resource, containing over 100,000 tonnes of copper," said Anglo Asian vice-president Stephen Westhead.

"We are confident that the Xarxar mine will be a significant contributor to our future production, enabling the company to deliver future growth and attractive returns to shareholders.

"To further expand the current mineral resources estimate, work will include surface infill drilling to the east of the deposit, deposit geotechnical and hydrogeological drilling, and drilling to supply samples for further metallurgical testwork."

Westhead said additional core drill samples would also be subject to external quality assurance and control.

"This will enable mineral resources to be reclassified from indicated to measured in preparation for the full mining study."

At 1254 GMT, shares in Anglo Asian Mining were up 3.45% at 60p.

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 68.00p
Change Today 1.00p
% Change 1.49 %
52 Week High 97.50
52 Week Low 42.00
Volume 37,187
Shares Issued 114.39m
Market Cap £77.79m
RiskGrade 310

AAZ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.12% below the market average6.12% below the market average6.12% below the market average6.12% below the market average6.12% 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
16.91% below the market average16.91% below the market average16.91% below the market average16.91% below the market average16.91% below the market average
17.73% above the sector average17.73% above the sector average17.73% above the sector average17.73% above the sector average17.73% above the sector average
Income Not Available
Growth
96.71% below the market average96.71% below the market average96.71% below the market average96.71% below the market average96.71% 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
15:45 10,000 @ 68.80p
15:38 718 @ 68.89p
14:47 13 @ 68.96p
14:47 75 @ 67.00p
14:47 7,350 @ 67.90p

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