Anglo Asian Mining plc Reports Production and Sales Results for the Fourth Quarter and Year Ended December 31, 2016
For the year, the company reported gold production of 65,394 ounces, a 9%, decrease over production of 72,032 ounces a year ago. Copper production was 1,941 tonnes, a 100%, increase over 2015 production of 969 tonnes. Silver production was 165,131 ounces, a 5.8 times increase over 2015 production of 28,626 ounces.
For the quarter, the company reported gold bullion sales of 12,995 ounces at an average of $1,227 per ounce. Copper concentrate shipments to the customer totalled 2,147 dry metric tonnes with a sales value of $3.9 million (excluding Government of Azerbaijan production share).
For the year 2016, the company's gold bullion sales of 53,366 ounces at an average of $1,253 per ounce. Copper concentrate shipments to the customer totaled 6,830 tonnes with a sales value of $12.6 million. The company had net debt at 31 December 2016 of $35.1 million, a reduction of $14.9 million since 31 December 2015.