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Group strategy

Anglo Asian Mining PLC's strategy is to build a leading gold, copper and silver producer in Azerbaijan and Caucasia by using its first mover advantage and to leverage the experience of its Board and management team. Key pillars of the strategy are as follows:

  • Optimisation of gold and copper production at its Gedabek site, in particular the performance of its agitation leach plant, to ensure maximum production at lowest possible cost.
  • Optimisation of flotation processing at its Gedabek site to exploit the copper content of the ore.
  • Increase of its production profile by identifying further resources and reserves in proximity of the Gedabek mine within the 300 square kilometre licence area.
  • Exploration of the Ordubad site with the aim of increasing the Company’s resource base and assessing production opportunities.

The Company will also look to develop the 900 square kilometre additional licences it holds in the occupied territories when the political situation permits.

Group strategy - 2017 update

In early 2017, a wide-ranging strategic review of Gedabek was completed in response to the discovery of the Ugur gold deposit and the decreasing gold grade of ore mined in the main open pit. As a result of this strategic review, several initiatives to ensure sustainable long-term production at Gedabek are currently underway in 2017:

  • Ore production from both the main open pit and Gadir underground mines is temporarily reduced so exploration, ore zone definition and production optimisation can be carried out. Any ancillary ore mined will be stockpiled for later processing.
  • The Ugur deposit will be developed so that mining can commence from an open pit before the end of 2017.
  • The Company will process its extensive stockpiles of ore whilst mining is suspended and the flotation and agitation leaching plants reconfigured to treat the high copper content of the stockpiled ore to maintain production.

The Company’s strategy for 2017 will have a positive impact on production starting from Q4 2017. In this quarter, the Company will be able to recommence mining in both the Gadir and Gosha underground mines. In addition, production will commence from the new Ugur open pit. These various sources of ore will enable the Company to quickly increase production and give it flexibility to optimise its processing facilities. The resumption of full production from the main open pit in Q1 2018 will further enhance the ability of the Company to increase production and give it additional flexibility in processing.

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