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Anglo Asian Mining cuts full-year output guidance; on track to achieve turnover target
StockMarketWire.com
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Mining company Anglo Asian Mining cut its output guidance, though said it was still on track to achieve turnover for 2020 of over $100 million.
The group's revised 2020 production guidance was between 68,000 to 72,000 gold equivalent ounces, down from guidance of 75,000 to 80,000 gold equivalent ounces.
The reduction, as the company previously reported, was mainly due to 'some delays in underground development, resulting from the conscription of a number of engineering staff, together with slowed tunnelling progress due to underground rock faulting.' the company said.
Following a peace agreement between Azerbaijan and Armenia, staff members who were conscripted due were expected to return to work early next year after the military starts to demobilise.
At 9:42am: (LON:AAZ) Anglo Asian Mining PLC share price was 0p at 135p
Story provided by StockMarketWire.com
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