Anglo Asian Mining issues ops, production update

Anglo Asian Mining has provided an operations and production update from its Gedabek gold, copper and silver mine in western Azerbaijan for the three months to Sept. 30, 2016.

PRODUCTION UPDATE

- Gold production for Q3 2016 totalled 16,497 ounces - 15,370 ounces contained within gold dore, 4 ounces from SART processing and 1,123 ounces from flotation (Q2 2016: total 19,375 ounces)

- Copper production for Q3 2016 totalled 485 tonnes - 225 tonnes from SART processing and 260 tonnes from flotation (Q2 2016: total 497 tonnes)

- Silver production for Q3 2016 totalled 33,899 ounces - 2,502 ounces contained within gold dore, 7,291 ounces from SART processing and 24,106 ounces from flotation (Q2 2016: total 52,214 ounces)

- Cumulative total production in the nine months to 30 September 2016 (YTDQ3 2016) as follows: Gold - 49,874 ounces (YTDQ3 2015: 54,103 ounces); Silver - 114,915 ounces (YTDQ3 2015: 10,916 ounces); Copper - 1,363 tonnes (YTDQ3 2015: 634 tonnes)

- Gold production target for the year to 31 December 2016 ("FY 2016") remains a total of between 69,000 ounces and 71,000 ounces

- Copper production target for FY 2016 is between 1,700 tonnes and 2,100 tonnes

OPERATIONAL UPDATE

- New Semi-Autogenous Grinding ("SAG") mill now operational - ore milled by the agitation leaching plant in Q3 2016 increased to 160,211 tonnes from 151,649 tonnes in Q2 2016 partially offsetting lower ore gold grade

- Work on construction of electrical sub-station and associated overhead power lines now substantially complete

- Water treatment plant and water evaporation initiatives proceeding to plan with equipment now being manufactured

- Stockpiled sulphide ore used for feedstock for the flotation plant in Q3 2016

At 9:23am: (LON:AAZ) Anglo Asian Mining PLC share price was -2p at 19p