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Anglo Asian Mining – dismal end to 2013, does 2014 promise better?

By Steve Moore | Wednesday 15 January 2014

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-listed gold producer from the Gedabek mine in Azerbaijan, Anglo Asian Mining (AAZ) has announced fourth quarter of 2013 gold production of 14,329 ounces, down from 20,242 ounces in the prior quarter “due to unexpected weather conditions and processing issues”. It added that “this, in tandem with the lower gold price, in particular during the second half, will see the cash cost per ounce increase and profitability for 2013 significantly reduced from FY 2012”. The following reviews with the shares currently down by more than 14.5% at 20.5p.

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