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Anglo Asian finance chief on Gedabek gold mine turnaround

Bill Morgan, finance chief at Anglo Asian Mining (LON:AAZ), says the firm has put last year’s technical issues behind it and is well on the way to turning its Gedabek gold mine in Azerbaijan around.

Last year the miner experienced  difficulties with lower metal prices, together with the first full year's operational cost of the agitation leach plant at Gedabek,  impacting profitability.

“There’s been no silver bullet in terms of the turnaround – it’s been hard work,” said Morgan.

This week the firm said that Gedabek set a new gold production record with 35,938 ounces in the six months to June 30, compared with 27,054 ounces in the same period of 2014.

Quick facts: Anglo Asian Mining PLC

Price: 125 GBX

Market: AIM
Market Cap: £142.99 m

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