London-listed Anglo Asian Mining hits 5-yr low on HY profit slump, gloomy outlook

Anglo Asian Mining

26/09/2023 09:36

** Shares of Anglo Asian Mining Plc  AAZ.L  plunge as much
as 41% to 38p, their lowest since August 2018
    ** Azerbaijan-based copper, gold, and silver producer posts
75% slump in HY pre-tax profit, partly hurt by increased cost of
processing lower grade ore
    ** Co, which suspended operations at Gebabek last month,
says activity there would not resume until 2024
    ** AAZ cuts overall production guidance for FY23
    ** Stock set to post worst day ever, if trend holds 
    ** Currently stock down 39%, pushing YTD losses to 61%


($1 = 0.8209 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))