Anglo Asian Mining plc Reports Sales and Production Results for the Third Quarter and Nine Months Ended 30 September 2017; Provides Production Guidance for the Year Ending 31 December 2017
For nine months, the company reported gold production of 37,686 ounces compared to 49,911 ounces a year ago. Silver production 125,375 ounces compared to 114,915 ounces a year ago. Copper production 1,872 tonnes compared to 1,363 tonnes a year ago.
For the quarter, gold bullion sales were 9,287 ounces at an average of $1,286 per ounce. Copper concentrate shipments to the customer totalled 2,905 dry metric tonnes with a sales value of $5.5 million (excluding Government of Azerbaijan profit share). Net debt, being interest-bearing loans and borrowings less cash and cash equivalents, totalled $25.2 million at 30 September 2017 compared to $29.0 million at 30 June 2016.
For the year company expects gold target production for the 12 months to 31 December 2017 expressed as gold equivalent ounces remains at between 64,000 and 72,000 ounces.