Sales of Anglo Asian Mining plc in Azerbaijan decreased

16:45 - 17.04.2024

April 17, Fineko/ UK’s Anglo Asian Mining plc has announced sales in Azerbaijan.

ABC.AZ reports that in the 1st quarter of 2024, the company sold a total of 3,925 ounces of gold bars. According to the report, on average, Anglo Asian sold gold for an average of $2,080 in the 1st quarter.

This means that the total volume of gold sales is $8.164 million.

For example, in the 1st quarter of 2023, gold was sold at an average of $1,895 per ounce, and total sales amounted to 5,719 ounces, which is equivalent to 10.837 million manats.

In Q1 of 2024, net cash inflows totaled only $700,000 as a result of the sale of primary stocks and control of strong expenses.

As of March 31, 2024, gold reserves are estimated at $2 million. At the beginning of this year, there were 2,506 ounces of gold for $6.9 million and copper concentrate for $200,000.