Baku, Azerbaijan, Nov. 29
By Sara Israfilbayova – Trend:
Stephen Westhead, director of geology at Anglo Asian Mining PLC, purchased a total of 60,000 ordinary shares of the company at an average price of 86.3 pence per share, the company said in a message Nov. 29.
Following these transactions, Stephen Westhead holds a beneficial interest in 235,000 ordinary shares representing approximately 0.21 percent of the company’s issued share capital.
Earlier, AAM issued 75,000 shares at the London Stock Exchange. The total number of shares of the company reached 114,392,024.
Presently, the value of the company’s shares is quoted at the London Stock Exchange in the range of 90-95 pence per share.
Anglo Asian Mining PLC is a gold, copper and silver producer with a broad portfolio of production and exploration assets in Azerbaijan.
AAM and Swiss Industrial Minerals SA signed an agreement in May 2014 on selling cooper concentrate produced at Gadabay field in Azerbaijan.
Based on a production sharing agreement signed with Azerbaijani government in August 1997, Anglo Asian Mining PLC 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.
In January-September 2018, AAM produced 54,600 ounces of gold, 144,400 ounces of silver and 1,060 tons of copper.
---
Follow the author on Twitter: @IsrafilbekovaS