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Thought it worthbring to your attention as news by end of August,via laresr RNS.

RNS Number : 3987Q
Anglo Asian Mining PLC
03 August 2010
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Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
3 August 2010
Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Phase I of the Realistic Mineral Resources Model Report - Gedabek Update

Anglo Asian Mining plc, the AIM quoted gold producer, announces that it has been
advised by its mining consultants, SGS Mineral Services ('SGS'), that the final
JORC compliant resource results of Phase I of the Realistic Mineral Resources
Model Report ('the Report') at the Company's Gedabek gold/copper mine in
Azerbaijan ('Gedabek'), are now expected to be available by the end of August
2010. The resource upgrade, which SGS has indicated will exceed existing
figures by at least 50% for the measured, indicated and inferred gold, copper
and silver metal contents at Gedabek (RNS:13 April 2010), is well progressed,
however additional work required at the modelling stage has necessitated a
longer timetable than expected. Gedabek's resource currently stands at 702,000
ounces of gold, 37,500 tonnes of copper and 6,100,000 ounces of silver.

The Report represents the first phase of SGS's work; the second phase of the
project will involve in-fill drilling to increase the reliability of the results
obtained from the original drill holes and for metallurgical/environmental
assessment of the mineralisation. This work is expected to be completed in Q4
2010/Q1 2011 and will increase the Board's confidence in the new resource
evaluations. It is the Board's intention to prepare a new Mineral Reserves
Statement after completion of the second phase of the project in order to comply
with the JORC Code for producing mines by first half of 2011.
**ENDS**

http://www.investegate.co.uk/Article.aspx?id=201101100700051330Z
http://www.investegate.co.uk/Article.aspx?id=201104060700073739E

http://www.investegate.co.uk/Article.aspx?id=201105260700112995H

http://www.investegate.co.uk/Article.aspx?id=201107110700080987K


http://www.kitco.com
 Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining 15 June 2011 Anglo
http://www.investegate.co.uk/Article.aspx?id=201110250700257564Q
http://www.investegate.co.uk/Article.aspx?id=201205100700130166D
http://www.investegate.co.uk/Article.aspx?id=201205230700128773D
http://www.investegate.co.uk/Article.aspx?id=201206070700058471E
http://www.moneyam.com/action/news/showArticle?id=4448509
http://www.investegate.co.uk/Article.aspx?id=201210080700051083O
http://www.investegate.co.uk/anglo-asian-mining-%28aaz%29/rns/q4-2012-production-and-operations-update--gedabek/201301090700061182V/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/gedabek---gosha-gold-mining-update-azerbaijan/201309110700106797N/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/interim-results/201309260700089223O/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/record-gold-production-q3-2013---gedabek/201310100700081597Q/
http://www.moneyam.com/action/news/showArticle?id=4728736

E-mail to a PI,

We have completed all the necessary drilling and analysis of results of the 6,000 metre infill drilling. However, we need to get a QP sign off and we dont have anyone available in-house to do this. The QP we are using from a consulting company needs to familiarize himself with what we have done from the start of the process before he can sign off.

I do not want to give you a deadline at this stage, but just to reiterate that the work has already been completed and that the QP is going to complete his work as soon as possible

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Interim Results

Anglo Asian Mining plc, the AIM listed emerging gold producer, is pleased to announce its interim results for the six months ended 30 June 2011.

Overview
Profit before tax up 129% to US$14.2 million (30 June 2010: US$6.2 million)
Gross profit up 62.5% to US$19.8 million (2010: US$12.3 million)
Revenue up 35.6% to US$38.5 million (2010: US$28.4 million)
Operating cash flows before movement in working capital of US$24.8 million (2010: US$18.6 million)
Gold production at Gedabek gold/copper mine for the six months to 30 June 2011 totalled 28,610 ounces of gold
Gold production target for FY 2011 between 58,000 ounces to 60,000 ounces
Produced gold at an average cash operating cost of US$445 per ounce of gold including the Government of Azerbaijan's share and US$524 per ounce of gold net of the Government of Azerbaijan's share
Feasibility study in progress for new agitation leaching plant at Gedabek to improve total gold recovery and increase life of mine
First sales of copper concentrate from SART operations at Gedabek recorded of US$2.1 million
Repaid US$12.6 million of loans to International Bank of Azerbaijan - outstanding loans at 30 June 2011 total US$18.0 million (2010: US$42.1 million)
Focussed on developing 1,962 sq km gold/copper exploration portfolio with the aim of replicating success at Gedabek and developing additional mining operations

Chairman's Statement

During the period under review we have continued our progress as a profitable gold mining company focussed in Central Asia, and have been active in developing and implementing plans to ensure the future growth and success of our flagship Gedabek gold/copper mine ('Gedabek') and two mining development Contract Areas, Gosha and Ordubad, in Azerbaijan. Additionally, we have implemented defined exploration and development programmes across each of these Contract Areas to delineate and upgrade our resource base, which currently stands at 791,000 ounces ('oz') of gold, 49,300 tonnes of copper and 7,597,000 oz of silver for all categories.

At Gedabek, the first gold mine in Azerbaijan in modern times, gold production for the six month period to 30 June 2011 totalled 28,610 oz (2010: 28,497 oz), with an average cash operating cost of US$445 per oz (2010: US$324) of gold including the Government of Azerbaijan's share and US$524 per oz (2010: US$372) of gold net of the Government of Azerbaijan's share. This low cash operating price is up slightly on last year mainly due to the increased consumption of chemicals and reagents, an increase in employee numbers, the impact of lower grade in 2011 compared to 2010 and general inflationary increases. In terms of gold sales completed for the first half of the year, Anglo Asian sold 24,586 oz at an average of US$1,450 per oz (2010: 24,460 oz at an average of US$1,155). As a result of solid gold sales, combined with the buoyant gold price environment, we have achieved a profit before tax of US$14.2 million (2010: US$6.2 million) and operating cash flow of US$16.2 million (2010: US$13.1 million) for the period.

Our headline gold production figure was 28,500 oz of gold, which was slightly behind management's target of 30,000 oz of gold for the half year period. This slight drop in gold production is due to a number of factors relating to a change in the physical characteristics of the ore, whereby a change in density and structure associated more with transitional ore is affecting the leach rates and in turn gold recovery and production. Channelling has also occurred in one of the cells as a result of harsh winter conditions.

In order to address these processing difficulties, we have implemented initiatives which include two-shift drilling for blasting and have employed additional excavators to accelerate waste removal. This will open up areas of known oxide ore over the Gedabek Mine, which will deliver the leaching characteristics more suitable to the heap leach process. We have also started to crush the ore more finely to help with cyanide leaching. Waste removal has increased to approximately 6,000m3 per day; this will rise further when our contractor steps up the haulage of waste to leach pad # 4.

In terms of processing, during the first half of the year we transferred 418,526 tonnes of dry ore onto the leach pad with an average gold content of 3.34 g/t (2010: 370,000 tonnes at an average grade of 4.4 g/t). The reduced grade in 2011 is in line with expectations from the Company's mine plan.

To ensure the long-term success of Gedabek as a leading gold/ copper mine in the Central Asian region we are continually looking at ways to improve operational efficiencies and production. One primary measure of the efficiency of the plant is the gold recovery rate, and in view of this we have entered into an agreement with mining consultants Arcardis Chile with regards to undertaking a feasibility study to assess the potential benefits of building a new agitation leaching plant. This plant would process high grade ore and additional resources that are not suitable for heap leaching, thereby improving total gold recoveries at Gedabek. Agitation leaching recovery rates for mineral extraction are typically measured at over 90% compared to circa 70% typically achieved in heap leaching. Additionally, residual gold in high grade ore that has been processed by heap leaching and left on the heap leach pad during 2009 through to the end of 2011 could be processed through agitation leaching, again improving total metal extraction from Gedabek's orebody. We are expecting the feasibility study to be completed by October 2011 and look forward to reporting on these developments in due course.

In terms of copper production at Gedabek, our Sulphidisation, Acidification, Recycling, and Thickening ('SART') plant, which recovers copper in the form of a precipitated copper sulphide concentrate containing silver with commercial value, has seen increased production. Copper concentrate produced for the first half of the year totalled 433 tonnes, which contained 261 recovered tonnes of copper, 50,739 oz of silver and an additional 109 oz of gold. The SART plant is currently running at 75% capacity and we are on track to achieve the production budgets. The SART plant's full capacity is 1,800 tonnes of copper concentrate with copper recoveries projected to be 50-70% and silver recoveries of 4,000 - 6,000 g/t.

We recorded our first copper concentrate sales in the first half of 2011. Revenue of US$2.1 million was generated from the Company's 87.25% share of the sale of 90 tonnes of payable copper, 29,132 oz of payable silver and 335 oz of payable gold. Subsequent to the period end, further shipments of copper concentrate have been loaded and sales will be finalised over the coming months. At the end of August 2011, there was a stockpile of copper concentrate containing approximately 383 tonnes of copper, 2,422 kg of silver and 3kg of gold. We are in discussions with our government partners and potential buyers about the sale of this stockpile and expect to sign an agreement in regards to this in the near future.

Exploration remains an important part of our focus to increase our current resource base at Gedabek of 791,000 oz of gold 49,300 tonnes of copper and 7,597,000 oz of silver for all categories and define maiden resources at Gosha and Ordubad Contract Areas to prove their economic potential and in turn develop additional mining operations.

In order to increase the life of mine at Gedabek, which currently stands at 300,000 oz of gold over a six year period, we have undertaken an advanced exploration programme comprising a two phase drilling programme. Phase 1 drilling, which was completed February 2011, comprised 61 holes over 6,000m and concentrated within the boundaries of the existing pit. The results, which are presently being assessed by a third party Qualified Person, will be announced to the market shortly. In the first quarter of 2011 we commenced Phase 2 of the exploration programme. So far 47 drill holes with a total of 7,150m of drilling have been completed and some of the assays have been received. Further drill holes have been planned as the ore body shows extensions towards the south of the mine.

Other exploration activities continue within the Gedabek Contract Area, namely at the Maarif target. To date, 1,630m of the planned 3,000m drilling programme (previously 7,000m) has been completed at Maarif, and the samples have been sent for independent assay. Priority for drilling equipment has been given to Phase 2 drilling at Gedabek, which has lead to the Maarif programme being reduced for the year. Drilling was also due to take place at the Cholpan target, a highly prospective area in close proximity to the existing mine, but this has been delayed whilst further geological mapping is undertaken prior to commencing drilling. Additionally, remote sensing has been conducted across the entire Gedabek Contract Area with several potential anomalies detected for further investigations, which are planned for 2012.

It is our intention to issue an upgraded JORC resource report by the first quarter of 2012 with a JORC compliant reserve estimate to follow soon after.

At Gosha, during the period we were delighted to announce that we submitted a Notice of Discovery to the Government of Azerbaijan, following an active exploration programme in 2010, which included 3,000m of drilling and 300m of adit and sample work. We are on course to submit a Development and Production Programme in October 2011 to the Government as per the Product Sharing Agreement ('PSA') rules and we will update shareholders on the programme's approval in due course. It is the Company's intention to develop a small gold mine with production by the second half of 2012.

Exploration work continues in the Ordubad Contract Area focusing on the Agyurt deposit. The Soviet-era galleries have been re-sampled and further underground drilling is planned for 2011.

We continue to work closely with the Government of Azerbaijan and are pleased with the level of support it gives us. Additionally, we have a strong relationship with the International Bank of Azerbaijan ('IBA'), which is majority owned by the Government of Azerbaijan. During the first half of 2011 we repaid US$12.6 million of our loan with the IBA, bringing the outstanding loan balance to US$17.0 million as at 30 June 2011. Including our loan of US$1.0 million from our CEO Reza Vaziri, the value of total outstanding loans at 30 June 2011 is US$18.0 million (2010: US$42.1 million). A further repayment of US$1.0 million has been made subsequent to the balance sheet date. The next repayment to IBA of US$0.6 million is due in March 2012, although the Company will continue to repay this loan ahead of schedule as cash flow allows.

As mentioned earlier, we have a PSA with the Government of Azerbaijan whereby until the time Anglo Asian has recovered its carried forward, unrecovered costs, the Government of Azerbaijan effectively takes 12.75% of the commercial products of each mine, with the Company taking 87.25%. We expect to continue retaining 87.25% of the commercial products until at least the end of 2011.

The Company made a profit before tax of US$14.2 million in the period to 30 June 2010 (2010: US$6.2 million). Revenue of US$38.5 million (2010: US$28.4 million) was generated from gold sales of 24,586 oz (2010: 24,360 oz) at an average price of $1,450 per oz (2010: US$1,155 per oz), silver sales of US$0.8 million (2010: US$0.3 million) and copper concentrate sales of US$2.1 million (2010: nil).

The cost of sales for the period amounted to US$18.7 million (2010: US$16.1 million), resulting in a gross profit of US$19.8 million (2010: US$12.3 million).

Administration costs were US$3.1 million (2010: US$2.3 million) and finance costs were US$1.9 million (2010: US$3.4 million), most of which related to interest on the loans from IBA.

Net cash inflow from operating activities was US$16.2 million (2010: US$13.1 million). This was utilised to fund the purchase of tangible assets of US$2.8 million, exploration expenditure of US$2.7 million, a reduction in loans of US$12.6 million and payment of interest of US$1.8 million.

Current assets have increased from US$25.8 million at 31 December 2010 to US$31.7 million at 30 June 2011 (2010: US$20.6 million). The increase is mostly as a result in increase of gold work in progress and finished inventory. Increased lead time on the leach pad has led to more ounces in stock and increased production cost has led to a higher cost per unit of stock, when compared to 31 December 2010. The other main factor affecting current assets is that the Company has made an advance payment of profit tax for 2011. Under the terms of the PSA, the Company must estimate its profit tax liability for the financial year and pay one-quarter of this amount within 25 days following the end of the calendar quarter in the form of an advance. Following the first quarter, an amount of US$2.1 million was paid (2010: nil). Subsequent to the balance sheet date, a further amount of US$2.1 million was paid. At the balance sheet date, the Company believes that it has unutilised carried-forward tax losses in its subsidiary, R.V. Investment Group Services LLC. However, the Company expects that these carried-forward tax losses will be fully exhausted within 2011 and profit tax will be assessed.

Maintaining good health, safety, social and environmental standards remains a priority to us and in line with this we have a Health, Safety, Environment and Technology Committee ('HSET') at Board level, under the chairmanship of Professor John Monhemius, one of our Non-executive Directors. This committee has the responsibility to oversee all aspects of the HSET performance of the Company and to make recommendations to the Board. During the period we appointed an experienced Health, Safety and Environment manager as a full-time member of our corporate management team. We have approximately 450 personnel working in the Company.

With the buoyant gold price set to continue and speculation that the price range of US$1,700 to US$1,900 will be maintained, we remain confident of the on-going profitability and success of our flagship Gedabek operation. Positive actions are being taken to ensure the smooth running of gold production for the remainder of the financial year and beyond. In addition, copper production has been increasing quarter on quarter, which will add increased profitability to our bottom line once sales of the concentrate have been finalised further. I also look forward to reporting on the development of our extensive exploration portfolio and in turn achieving our milestones towards building a multiple gold mine company.

Last but not least, I would like to thank the employees, my fellow Directors, advisors and shareholders for their continued support and I look forward to updating investors regularly on the progress of Anglo Asian, a highly profitable, cash-generative, producing gold and copper company in Azerbaijan.

Khosrow Zamani
Non-executive Chairman

What went wrong?

It's imo a good solid RNS,but we need resource upgrade to give a longer mine life.Don't forget we have to share(51%) with the KAZ gov.

http://www.proactiveinvestors.co.uk/companies/news/33348/anglo-asian-mining-ups-profits-in-first-half-continues-progress-as-profitable-miner-33348.html

Gold producer Anglo Asian Mining (LON:AAZ) says it plans to ensure the future success of its assets as it revealed its interim results with pre-tax profit up 129 percent in the six months to June 30 this year.

The firm also revealed plans today to increase its resource base and increase the mine life of its flagship Gedabek mine in Azerbaijan.

It also told investors that it had recorded its first sales of copper concentrate in the first half - generating revenue of US$2.1 million.

Pre-tax profit was increased to US$14.2 million in the period compared to US$6.2 million in the comparative period the year before, said the company.

Revenue of US$38.5 million (2010: US$28.4 million) was generated from gold sales of 24,586 ounces (2010: 24,360 oz) at an average price of $1,450 per ounce compared to US$1,155 per ounce in 2010.

Silver sales stood at US$0.8 million (2010: US$0.3 million) and copper concentrate sales were US$2.1 million (2010: nil).

Gold production at the Gedabek mine for the six months totalled 28,610 ounces of gold with the target for full year 2011 now standing between 58,000 and 60,000 ounces.

Anglo-Asian also said that to ensure the long-term success of Gedabek as a leading gold/ copper mine in the central Asian region, it had entered into an agreement regarding a feasibility study to assess the potential benefits of building a new agitation leaching plant.

It added that exploration remained an important part of its focus to increase the current resource base at Gedabek of 791,000 ounces of gold, 49,300 tonnes of copper and 7,597,000 ounces of silver for all categories and define maiden resources at its development contract areas - Gosha and Ordubad.

The company said the period saw the first copper concentrate sales. Revenue of US$2.1 million was generated from the firm's 87.25 percent share of the sale of 90 tonnes of payable copper, 29,132 ounces of payable silver and 335 ounces of payable gold.

At the end of August this year, there was a stockpile of copper concentrate containing around 383 tonnes of copper, 2,422 kg of silver and 3kg of gold.

"We are in discussions with our government partners and potential buyers about the sale of this stockpile and expect to sign an agreement in regards to this in the near future," said the firm.

Disappointing results,but at least they're making a profit.

http://www.investegate.co.uk/Article.aspx?id=201110170700102536Q

http://www.investegate.co.uk/Article.aspx?id=201110250700257564Q


Overview
5,460m infill drilling programme undertaken to re-classify the current mineral resources and ore reserves categories and assess the spatial continuity and metallurgy of the existing resource to consider future mineral processing options
Drilling concentrated on the existing resource pit boundaries at Gedabek - results demonstrated consistent gold, silver and copper grades and spatial continuity of mineralisation
Best intersections of 3.2m at 29.47 g/t gold ('Au'), 11.76 g/t silver ('Ag') and 0.61% copper ('Cu') and 17.3m at 11.57 g/t Au, 46.52 g/t Ag and 0.88% Cu
CAE Mining conducting review of all drilling programmes completed at Gedabek - new three dimensional orebody interpretation and modelling expected to be completed by the end of 2011
Phase 2 drilling underway concentrating on outside the boundaries of the existing pit
Upgraded JORC resource report targeted for Q1 2012 followed by a JORC compliant reserve estimate later in 2012

Anglo Asian CEO Reza Vaziri said, "These latest drilling results covering the existing pit continue to demonstrate consistent solid gold, silver and copper grades and continuity of mineralisation at Gedabek. With a current resource base of 791,000oz of gold, 49,300t of copper and 7,597,000oz of silver for all categories, it is our intention to continue both infill and exploration drilling at Gedabek. This is focussed on expanding the existing resource outline in order to announce an increased and upgraded resource by Q1 2012 and in turn, a JORC compliant reserve estimate thereafter. Additionally the latest drilling programme has enabled the Company to gain a better understanding of the metallurgy of the current resource at Gedabek to help assess future mineral processing options and ensure an accurate evaluation of the proposed agitation leaching plant, which would potentially enable an increase in Gedabek's mine life and thereby further improving the economic fundamentals of the mine.

"In addition, with gold and copper production continuing to perform solidly at Gedabek we remain confident of realising our production target of 58,000 to 60,000oz of gold and 525 tonnes of copper for FY 2011."

Detailed Information
The latest infill drilling programme at Gedabek comprised 59 holes over 5,460m across a 90,000 sq m area and concentrated within the boundaries of the existing pit at Gedabek. The drilling campaign was undertaken with a view to increasing and upgrading Gedabek's JORC compliant resource, which currently stands at 791,000oz of gold, 49,300t of copper and 7,597,000oz of silver for all categories. Drilling was also carried out to increase the confidence of the spatial variability of the already known gold, silver and copper mineralisation; to assess the metallurgy of the existing resource and in turn future mineral processing options.

The link to Table 1 shows the average grades of gold, silver and copper of each infill drill hole with grades greater than or equal to 0.3 g/t Au from the fourth drilling programme. The colour in each drill hole interval highlights the classification of the mineralisation, as follows:

Yellow highlighted results - 0.3 <= Au g/t < 1.5
Orange highlighted results - 1.5 <= Au g/t < 3.0
Red highlighted results - 3.0 <= Au g/t < 30.0

Link to Table 1
http://www.rns-pdf.londonstockexchange.com/rns/7564Q_-2011-10-24.pdf

Best intersections from this drilling programme at Gedabek include:
SGSDD02 - 19m at 3.61 g/t Au, 10.52 g/t Ag and 0.18% Cu
SGSDD16 - 17.3m at 11.57 g/t Au, 46.52 g/t Ag and 0.88% Cu
SGSDD22A - 3.2m at 29.47 g/t Au, 11.76 g/t Ag and 0.61% Cu
SGSDD31 - 2.3m at 16.05 g/t Au, 73.54 g/t Ag and 3.45 % Cu
SGSDD33 - 2.1m at 9.35 g/t Au, 23.26 g/t Ag and 0.42 % Cu

A designated competent person from the mining consultants, CAE Mining, has carried out a detailed review of the latest drilling programme results and of those collated from the previous three drilling campaigns. These data include plan and cross section views, together with mineral resource models for Gedabek compiled by mining consultants SRK in 2007 and SGS Geostat in 2010. The review has confirmed the continuity of the gold, silver and copper mineralisation and geological structures across the Gedabek deposit. The new three dimensional orebody interpretation and modelling is expected to be completed by the end of 2011 with a view to announcing an upgraded JORC resource estimate by the first quarter of 2012 and a JORC compliant reserve estimate thereafter.

With the completion of this latest drilling programme the drilling grid in the north area of the existing resource at Gedabek has been reduced to 20 x 20 m in order to improve the classification and increase the confidence of the spatial distribution of gold, silver and copper grades across the mineral resource.

In addition to Phase 1 drilling, the Company commenced Phase 2 of the exploration and development programme of Gedabek in the first quarter of 2011. Drilling is focussed on increasing the existing resource base and is concentrated on exploring outside of the existing pit boundary. So far 55 drill holes for a total of 8,300m of drilling have been completed and some of the assays have been received. Further drill holes have been planned as the ore body shows extensions towards the south of the existing pit boundary.

Other exploration activities continue within the Gedabek Contract Area, namely at the Maarif target. To date, 1,520m of the planned 3,000m drilling programme has been completed at Maarif, and the samples have been sent for independent assay. Remote sensing has also commenced and is being conducted across the entire Gedabek Contract Area with several potential anomalies detected for further investigations, which are planned for 2012.

Anglo Asian CEO Reza Vaziri said, "These latest drilling results covering the existing pit continue to demonstrate consistent solid gold, silver and copper grades and continuity of mineralisation at Gedabek. With a current resource base of 791,000oz of gold, 49,300t of copper and 7,597,000oz of silver for all categories, it is our intention to continue both infill and exploration drilling at Gedabek. This is focussed on expanding the existing resource outline in order to announce an increased and upgraded resource by Q1 2012 and in turn, a JORC compliant reserve estimate thereafter. Additionally the latest drilling programme has enabled the Company to gain a better understanding of the metallurgy of the current resource at Gedabek to help assess future mineral processing options and ensure an accurate evaluation of the proposed agitation leaching plant, which would potentially enable an increase in Gedabek's mine life and thereby further improving the economic fundamentals of the mine.

"In addition, with gold and copper production continuing to perform solidly at Gedabek we remain confident of realising our production target of 58,000 to 60,000oz of gold and 525 tonnes of copper for FY 2011."

http://en.trend.az/capital/analytical/1950510.html

opper: Look at future
27 October 2011, 22:15 (GMT+05:00)

Baku, Azerbaijan, Oct. 27 / Trend /

Azer Ahmedbeyli, expert of Trend's analytical center

Anglo Asian Mining plc, the AIM listed gold producer, yesterday announced positive results from its 5,460m Phase 1 drilling campaign at its flagship Gedabek gold/copper mine ('Gedabek') in Azerbaijan. "These latest drilling results covering the existing pit continue to demonstrate consistent solid gold, silver and copper grades and continuity of mineralisation at Gedabek," Anglo Asian CEO Reza Vaziri said. "With a current resource base of 791,000oz of gold, 49,300t of copper and 7,597,000oz of silver for all categories, it is our intention to continue both infill and exploration drilling at Gedabek."

This project is focussed on expanding the existing resource outline in order to announce an increased and upgraded resource by Q1 2012 and in turn, a JORC compliant reserve estimate thereafter. "In addition, with gold and copper production continuing to perform solidly at Gedabek we remain confident of realising our production target of 58,000 to 60,000oz of gold and 525 tons of copper for FY 2011," he said.

The October newsletter of the International Copper Study Group (ICSG) presented recent data on supply, demand and prices for the period from January to July this year: the production of refined copper in the world increased by 2.2 percent compared to the same period of 2010, consumption excluding China, increased by 4 percent, the shortage of production amounted to 118,000 tons, the average price per ton on the London Metal Exchange reached 9.430 compared to $7.070 over the first seven months of 2010.

China is far ahead in the world imports of copper. Getting rid of existing dollar reserves, China buys raw materials, thus strengthening its resilience to possible new economic shocks in the ongoing competition. But there is another version. Copper production in China is increasing every year (seven months of this year grew by 15 percent), but the country does not diminish, but continues to increase import volumes larger than needed for commercial use - a fact strongly evident.

China has officially announced that it has four million tons of copper reserves valued at $1.3 billion, but unofficial sources describe the figure at least four times greater. According to experts of the Money Morning Investment Group, China is trying to make the raw materials a kind of new world currency instead of dollar, a new accounting tool for making international transactions, and the main role in this case will be played not by the gold, but copper, the practical application of which is far higher. This is a long-term goal, the implementation of which would help ensure world leadership.

Copper, as a perfect conductor of electric current, is a key product in the construction of electricity networks. According to forecasts of IEA, the global energy consumption in 2030 will increase by 2.5 percent annually, and power generation will make up additional 4800 hW. Covering the growing worldwide demand for electricity will require thousands of kilometers of copper cable. The second important factor in covering the future demand for copper is the automobile industry. Today, the ordinary middle-class car contains 22.5 kg of copper, but as for a car of "premium" class, copper wire is used in length of one and a half kilometers.

The volume of copper is more, up to forty kilograms in the new generation cars (with an electric motor or hybrid), of which production is increasing every year. In the high-speed trains of new generation, 2 to 4 tons of copper is used, whereas in the conventional electric locomotives - 1 to 2 tons.

The total volume of gold reserves in Azerbaijan stored in the Central Bank of the country has now reached 12.514.7 troy ounces (389.2 kg with a market value of $18.7 million).

Azerbaijan could also create a strategic reserve of copper from its own resources, given that six of the field are so far developed only by one. It is now exported.

Anglo Asian Mining PLC is the only company to develop gold fields in Azerbaijan, registered in the list of Alternative Investment Market of London Stock Exchange. Anglo Asian Mining Plc owns the rights to develop six fields in south-west Azerbaijan at Gedabey, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu. The concession is based on PSA agreements signed with the Azerbaijani government in August 1997. According to the contract, production plans aim to yield 400 tons of gold, 2,500 tons of silver, and 1.5 million tons of copper. Gold and silver were first discovered in Gedabek in May 2009.

What the future holds for this company this year?

There is no major announcements this year, performance probably within the expectations (58.000-60.000) , no drilling being due...

Do you think that based on the current performance + recovery of the stock markets (if the EU will sort its mess) we have a chance to get back to 55-60p mark where we supposed to be?

http://www.investegate.co.uk/Article.aspx?id=201111210700134102S

I sold out these the other day,will keep on my watchlist,but in the present market i see no great rewards short term?

small volume but nicely moving up. Maybe someone knows something more...

http://www.investegate.co.uk/Article.aspx?id=201201200700138850V

AAZ steadily keeps delivering. Profitable and has reduced debt to negligible amount.
Looking great value for money with PE of mere 4 and is actively looking to expand activity and reserves.

http://www.investegate.co.uk/Article.aspx?id=201205100700130166D

http://www.investegate.co.uk/Article.aspx?id=201206070700058471E

http://www.moneyam.com/action/news/showArticle?id=4448509

http://www.investegate.co.uk/Article.aspx?id=201210080700051083O

Anglo Asian company portfolio video with Sean Duffy, Chief Financial Officer.
Anglo Asian is an AIM quoted, cash generative and profitable gold and copper mining and exploration company in Azerbaijan.

Click the link below to watch:

http://www.brrmedia.co.uk/event/106164/sean-duffy-chief-financial-officer