StockMarketWire.com - Anglo Asian Mining said output from its Gedabek mine in Azerbaijan fell 3% in the fourth quarter, as higher copper output was offset by a fall in gold and silver production.

Production for the three months through December fell to 21,284 ounces of gold equivalent, down from 21,945 ounces on-year.

The company said it expected to achieve record revenue in 2019 in excess of $90.0m, driven by 'sustained gold and increased copper production and strong commodity prices'

'We have had another strong year, delivering production in line with expectations and also making good progress with our exploration programme,' chief executive Reza Vaziri said.

'We report our production in gold equivalent ounces which have reduced due to the increase in the market price of gold relative to the market price of copper during the year.'

'Our production calculated as gold equivalent ounces using our budgeted metal prices was 82,795 ounces and within our original production forecast.'


At 1:40pm: [LON:AAZ] Anglo Asian Mining PLC share price was +2p at 146.5p



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