Anglo Asian Mining (GB:AAZ) has released an update.
Anglo Asian Mining plc reports a significant reduction in Q1 2024 production due to partial shutdowns while awaiting permission to raise its tailings dam wall. Despite lower production, gold bullion sales remained strong, fetching an average of $2,080 per ounce, and the company maintained strict cost control, resulting in a minor net cash outflow of $0.7 million. Looking forward, the company expects to resume normal production upon receiving government permission, with plans to launch production at the new Gilar mine by Q4 2024.
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