Stock Market News
Anglo Asian Mining increases production guidance
AIM-quoted group Anglo Asian Mining set its production guidance for the current financial year to be somewhere in the region of 78,000 to 84,000 gold equivalent ounces, increasing the mid-point of its earlier guidance by more than 13%.
Anglo Asian anticipated production to rise throughout the year as a result of optimisation initiatives undertaken at Gedabek in 2017 and the start-up of a second crusher line for its flotation plant during the second quarter if 2018.
Forecasts estimated production to be around 64,000 to 70,000 ounces of gold, up from the previous period's figure of 59,617, and copper to tick ahead even more from 1,991 tonnes of the stuff to around 2,100 to 2,300 tonnes.
Anglo Asian's chief executive Reza Vaziri, said, "2018 is shaping up to be a year of delivery for Anglo Asian with a production of between 78,000 to 84,000 gold equivalent ounces planned by our operational team. The mid-point of this guidance is over 13% higher than FY 2017 production and continues the upward trajectory from last year which we believe will continue in the coming years."
"As in previous years, the second half of 2018 is expected to be better than the first due to seasonal factors and the added momentum of the flotation plant processing on a stand-alone basis from Q2 2018," he added.
As of 1120 GMT, shares were flat on the day at 38.00p.
Anglo Asian anticipated production to rise throughout the year as a result of optimisation initiatives undertaken at Gedabek in 2017 and the start-up of a second crusher line for its flotation plant during the second quarter if 2018.
Forecasts estimated production to be around 64,000 to 70,000 ounces of gold, up from the previous period's figure of 59,617, and copper to tick ahead even more from 1,991 tonnes of the stuff to around 2,100 to 2,300 tonnes.
Anglo Asian's chief executive Reza Vaziri, said, "2018 is shaping up to be a year of delivery for Anglo Asian with a production of between 78,000 to 84,000 gold equivalent ounces planned by our operational team. The mid-point of this guidance is over 13% higher than FY 2017 production and continues the upward trajectory from last year which we believe will continue in the coming years."
"As in previous years, the second half of 2018 is expected to be better than the first due to seasonal factors and the added momentum of the flotation plant processing on a stand-alone basis from Q2 2018," he added.
As of 1120 GMT, shares were flat on the day at 38.00p.
Related share prices |
---|
Anglo Asian Mining (AAZ) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price