Gold producer operating in Azerbaijan increases sales revenue by nearly 13%

Anglo Asian Mining plc, the AIM-listed gold, copper and silver producer operating in Azerbaijan, sold 2,900 ounces of gold bars in July-September of this year, according to the sales and operations review for the three and nine months to September 30, 2023, Report informs.

This is 7,100 ounces or 3.4 times less than the figure for the third quarter of 2022.

During this period, the average price of gold per ounce was $1,949, which is an average increase of $222, or 12.8%, compared to the average price of the third quarter of 2022.

The sale of copper concentrate amounted to 2,358 tons. This is 640 tons, or 37.2%, more than the indicator of the third quarter of last year. The company generated $3.1 million in copper concentrate sales, down $0.3 million, or 8.8%, compared to the average price for the third quarter of 2022.

During the third quarter of this year, Anglo-Asian Mining Plc's cash flow decreased by $8.6 million, or 6 times, to $1.6 million.