Anglo Asian Mining PLC provided production and sales results for its Gedabek gold, copper and silver mining and production contract area (Gedabek) in western Azerbaijan for the three months and the year ended 31 December 2018. For the quarter, total production of 21,945 GEOs against 23,185 GEOs a year ago - prior year benefitted from higher grade ores due to the commencement of mining from the Ugur open pit mine, partially offset by higher copper production in fourth quarter of 2018. Gold production of 18,209 ounces against 21,931 ounces a year ago: 15,444 ounces contained within gold doré; 13 ounces from SART processing; and 2,752 ounces from flotation. 394% year-on-year increase in copper production to 588 tonnes against 119 tonnes a year ago, as flotation plant operated throughout fourth quarter of 2018: 67 tonnes from SART processing; 521 tonnes from flotation processing. 39% year-on-year increase in silver production to 65,822 ounces against 47,478 ounces a year ago: 5,646 ounces contained within gold doré; 14,229 ounces from SART processing; and 45,947 ounces from flotation.

For the year, the company reported 17% year-on-year increase in total production to 83,736 GEOs against 71,461 GEOs a year ago. 22% year-on-year increase in gold production to 72,798 ounces against 59,617 ounces a year ago. Copper production totalled 1,645 tonnes against 1,991 tonnes a year ago. Silver production totalled 210,184 ounces against 172,853 ounces a year ago.

For the quarter, the company reported gold bullion sales of 15,066 ounces at an average of $1,231 per ounce. Copper concentrate shipments to the customer totalled 3,774 dry metric tonnes (dmt) with a sales value of $6.1 million (excluding Government of Azerbaijan profit share).

For the year, the company reported gold bullion sales of 59,481 ounces at an average of $1,265 per ounce against 43,496 ounces at an average of $1,265 per ounce a year ago. Copper concentrate shipments to the customer totalled 7,675 dry metric tonnes (dmt) with a sales value of $15.4 million (excluding Government of Azerbaijan profit share) against 8,499 dmt with a sales value of $16.7 million a year ago.