Anglo Asian Mining plc Reports Production and Sales Results for the Fourth Quarter and Full Year Ended 31 December 2015 At Its Gedabek Gold, Copper and Silver Mine, Azerbaijan
For the full year of 2015, the company reported gold production of 72,032 ounces, a 19% increase over fiscal year 2014 production of 60,285 ounces. Copper production was 969 tonnes, a 24% increase over fiscal year 2014 production of 784 tonnes. Silver production was 28,626 ounces, an 8% decrease over fiscal year 2014 production of 31,177 ounces.
For the quarter, the company reported gold doré sales of 15,759 ounces at an average of $1,108 per ounce. SART copper concentrate sales totalled 425 dry metric tonnes (dmt), containing 235 tonnes of copper.
For the full year of 2015, the company reported gold doré sales of 63,924 ounces at an average of $1,161 per ounce. Copper concentrate sales was 1,310 dmt generating $3.3 million in sale proceeds. The company had net debt at 31 December 2015 of $49.2 million, a reduction of $3.2 million since 31 December 2014.