Anglo Asian Mining boosts investments in Libero Copper & Gold

Economy Materials 21 February 2023 12:38 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, February 21. The UK Anglo Asian Mining (AIM) company in Azerbaijan acquired more than 3.2 million shares of Libero Copper & Gold Corporation (registered in Toronto) for $355,000, Trend reports via AIM.

According to the company, the purchased value of one share is 15 Canadian cents, and the yield on them within 24 months will be about $1.9 million.

“Now we hold in Libero 21.3 million common shares and 12.1 million warrants (securities giving the holder the right to buy a proportional number of shares at a specified price within a certain period of time, usually at a lower price than the current market price) exercisable at Canadian 22 cents and 75 cents, respectively,” the company said.

Besides, the company stressed that this investment aims to hold AIM's 19.8 percent share in Libero.

Previously, the AIM company in Azerbaijan acquired 2.6 million shares of Libero Copper & Gold Corporation for $289,000. Its share in the corporation currently stands at 19.8 percent.

The main activity of Anglo Asian Mining in Azerbaijan is focused in Gadabay, and this year the "Zafar" deposit is planned to be commissioned in the Gadabay district. In addition, in the coming years, Anglo Asian Mining plans to put into operation such contract zones as "Garadagh", "Kharkhar" and "Damirli". On the liberated territories, the company has already started the exploration of the Vezhnali gold deposit in the Zangilan district.

Anglo Asian Mining mainly exports gold bars produced in Azerbaijan to Switzerland, and copper to Georgia, Uzbekistan, and Türkiye.

Libero provides Anglo Asian with exposure to significant copper resources, in addition to the company's fully-owned projects in Azerbaijan.