BAKU, Azerbaijan, April 14. Anglo Asian Mining plc, the AIM-listed gold, copper and silver producer in Azerbaijan, has published its financial and operating results for the first quarter of 2025, Trend reports.
The company reported gold bar sales of 4,753 ounces at an average price of $2,843 per ounce (1Q2024: 3,925 ounces at $2,080/oz). The full resumption of processing operations helped the company achieve a positive net cash flow of $1 million for the quarter.
The company continues to maintain strong financial discipline and cost control. Net debt, including a $5 million advance from Trafigura, decreased to $13.8 million as of March 31, 2025 (December 31, 2024: $14.8 million). Finished goods inventory rose to $7.1 million (FY2024: $4.0 million).
"I am pleased to report our first full quarter of production following the restart of operations in the final quarter of last year. We produced 8,085 gold equivalent ounces, including 534 tonnes of copper, which is an encouraging performance during the winter season. As a result of our careful cash management, we are pleased to report an overall positive net cash inflow of $1 million.
"This strong start to 2025 is very encouraging as we ramp up production and execute our medium-term growth strategy to transition to a mid-tier, primarily copper-focused producer. Gilar entering full production in May will be another key milestone, and we are making important progress across our developmental portfolio. I look forward to providing further updates in the coming months." CEOReza Vazirisaid.
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