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Anglo Asian Mining to issue new shares on London Stock Exchange

Business Materials 9 October 2018 14:03 (UTC +04:00)
The Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, will issue new shares on the London Stock Exchange

Baku, Azerbaijan, Oct. 9

By Taleh Mursagulov – Trend:

The Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, will issue new shares on the London Stock Exchange, reads the message of the company.

On October 5, AAM submitted an application to issue 75,000 new ordinary shares and expects them to be admitted to trading on October 12.

Thus, the total number of shares of the company will increase from 114,317,024 to 114,392,024.

Presently, the value of the shares is quoted at 69-70 British pennies.

Based on the production sharing agreement signed with Azerbaijani government in August 1997, AAM has the right to develop six fields in Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu.

The gold produced at the fields is sent to Switzerland for purification. The ingots are delivered to Azerbaijan and are stored in the government’s account.

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