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Anglo Asian Mining PLC - Azerbaijan-focused copper and gold producer - Reports a pretax profit of $7.5 million in 2022, down 40% from $12.6 million the year prior. Revenue in the year totals $84.7 million, down 8.4% from $92.5 million. Anglo Asian says the drop in revenue was due to lower production and lower gold grades of ore mined at Gedabek. Production totals 57,618 gold equivalent ounces. Gold production falls to 43,114 ounces from 48,680 ounces the year prior. Copper productions drops to 2,516 tonnes from 2,649 tonnes. Silver production, meanwhile, rises to 182,046 ounces from 154,515 ounces year-on-year. Gold bullion sales total 34,918 ounces at an average price of $1,783 per ounces. This compared to 39,563 ounces at an average price of $1,799 per ounce the year prior. Looking forward, total production for 2023 is expected between 50,000 to 54,000 gold equivalent ounces. Declares a final dividend of 4 US cents per share, maintaining the full-year payout at the same level as 2021.
Current stock price: 112.25 pence, closing 2.0% in London on Tuesday
12-month change: up 32%
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