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Buy AIM dog Anglo Asian Mining!

By Robert Tyerman | Friday 17 July 2015

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

AIM dog Anglo Asian Mining (AAZ) says it is on track to meet its target of lifting gold production from its Gedabek gold, copper and silver mine in the central Asian republic of Azerbaijan from 60,285 oz. in 2014 to between 70,000 and 75,000 oz. this year after achieving record output of 35,938 oz. in the first six months. The company, steered by chief executive officer and 29.9% shareholder Reza Vaziri, a former foreign office chief under the Shah of Iran, increased copper output at Gedabek 12.3 % in the first half year to 418 tonnes and plans to grow the copper side significantly with the installation of a new flotation plant, which it expects to be up and running by the end of September at a direct cost of $2.5 million (£1.6 million), plus $1 million or more of ancillary expenses.

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