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Anglo Asian Mining PLC - London-based gold, copper and silver producer focused on Azerbaijan - Buys exploration data about Garadagh and Xarxar areas in Azerbaijan from gold mining firm AzerGold QSC. Pays $3.3 million for Garadagh data and $700,000 for Xarxar data.
‘The acquisition of these contract areas is transformational for Anglo Asian and underpins its strategic objective to transition into a copper-focused mining company with mid-tier production status. It also allows the company to complete its three to five year development plan,’ firm says.
Chief Executive Officer Reza Vaziri states: ‘We will soon begin a detailed geological analysis of Garadagh and Xarxar. This will enable our team to formulate the best approach to developing these assets which we look forward to announcing to the market once finalised.’
Current stock price: 84.05 pence, down 3.4% on Thursday
12-month change: down 40%
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