https://www.miningweekly.com

Debt-free Anglo Asian starts off 2020 ‘strong’

14th January 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed Anglo Asian Mining is able to pay off its final instalment of its refinancing loan, effectively becoming debt free, after a strong net cash generation of $21.1-million last year.

The company managed to increase its net cash from $6.1-million at the start of last year to $21.1-million by December, while paying dividends of $8.7-million and corporate taxes of $7.5-million.

CEO Reza Vaziri said on Tuesday Anglo Asian Mining was in a strong operational position and robust financial health as it moved into 2020.

Anglo Asian produced 82 795 gold equivalent ounces (GEOs) in 2019, compared with 83 736 GEOs produced in 2018, from its gold/copper/silver project, in Azerbaijan.

Copper production had been recorded at 2 210 t last year, compared with 1 645 t copper produced in 2018, while silver production totalled 159 356 oz in the reporting year, compared with 210 184 oz produced in 2018.

Anglo Asian Mining produced 70 098 oz of gold in 2010, compared with 72 798 oz of gold produced in 2018.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION