Azerbaijan’s AzerGold to pay investor fee on placement of second tranche of bonds
BAKU, Azerbaijan, Nov. 23
By Fidan Babayeva – Trend:
In accordance with the decision of the Listing Committee of the Baku Stock Exchange (BSE) on November 23, 2020, Azerbaijan’s AzerGold closed joint-stock company’s shares worth $20 million were included in the listing in the standard market segment, Trend reports with reference to the BSE.
The placement of the second tranche of bonds worth $10 million will be placed through a competitive auction on the BSE.
At the same time, we would like to inform the investors that the fee (0.02 percent) on the placement of the second tranche will be paid by AzerGold CJSC.
AzerGold will allocate the proceeds from the placement of bonds to increase the resources of Chovdar field (Dashkesan district), Kokhnamadan field (Balakan district), and Garadagh field (Shamkir-Gadabay district), accelerate ground exploitation work and finance field research on these fields.
In accordance with the Azerbaijani president’s order dated August 6, 2020, AzerGold CJSC has begun geophysical research and exploration work as part of the preparation of the primary assessment document for re-commissioning of the Dashkesan iron ore deposit.
The deposit with reserves in the volume of 350 million tons of ore was constantly used from 1954 through 1994, during which 92 million tons of minerals were extracted.
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